Farmers optimistic about expansion, says survey

By MHA

15 Aug 2014

The majority of farmers are optimistic about future growth and are planning for expansion where possible, according to the second agricultural survey conducted this year by MHA.

The MHA Agriculture Insight Survey, compiled in partnership with Lancashire accountancy firm Moore and Smalley, was first conducted at LAMMA in January and rerun at Cereals 2014 in June. Collectively these surveys take into account the views of more than 200 farmers nationwide.

Key findings include: • Despite falling prices, optimism for growth is high – 69% of those who responded were expecting growth. • Expansion is an aspiration for many with 51% planning to increase their acreage. • Succession planning is a concern which is moving up the agenda for many respondents.

EU predictions earlier this month, that the European cereal harvest is set to beat the average for the second year running, may be part of the reason for the optimism among those surveyed, outweighing the impact of recent drops in commodity prices.

However, many sounded a note of caution around profitability as the squeeze on margins continues to bite. There is also a shortage of available land for those looking to expand their businesses.

Liz Cliffe, head of Moore and Smalley’s farming and rural business team, said: “Although the recent falls in the price of both cereals and meat was a key topic of conversation, it is encouraging that there is an underlying optimism as we go into harvest. For those looking for expansion however, the availability of the right land at the right price remains a barrier to expansion as land prices continue to rise while supply remains static.”

Aside from the concern about available land, planning for the future of the business is a worry for many. 17% of those surveyed felt that succession planning was a “great concern” and an additional 39% acknowledged that this was of “some concern”.

Liz added: “Planning for the business is essential if anticipated levels of growth are to be achieved. In this business more than any other, a long term view must be taken and advice should be sought. For many of those we spoke to succession seems to be creeping up the agenda and planning for this essential. The earlier this can be done the better.” Of those surveyed by MHA, 54% would consult their accountant as a first port of call when making decisions about their business. Sound financial advice is essential – whether you are planning to expand or looking to hand over the reins to the next generation.

Latest news

1

Work begins on £3m youth zone expansion Blackburn Youth Zone Rosslee Construction

Work begins on £3m youth zone expansion

11 Jul 2024

2

Employment initiative launched at careers conference Careers Hub Event

Employment initiative launched at careers conference

09 Jul 2024

3

New manager takes the helm at Conkers Day Nursery in Langho Katie Twine manager at Conkers.jpg.jpg

New manager takes the helm at Conkers Day Nursery in Langho

12 Jul 2024

4

Farleys assists Basically Cheer and Fitness with new lease in Burnley Parkside Methodist Church.jpg.jpg

Farleys assists Basically Cheer and Fitness with new lease in Burnley

12 Jul 2024

5

Prime industrial developments in Blackburn go to market Trevor Dawson Sigma&Omega.png.png

Prime industrial developments in Blackburn go to market

12 Jul 2024

Bec Web Strip 980x120
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Lancashire Built Environment Conference
BEC 315 X 315 Px
Networking
25 Sep 2024

Lancashire Built Environment Conference

Conference and Exhibition Centre, Winter Gardens Blackpool, FY1 1HL

08:30 - 13:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
11 Jun 2024 - 04 Dec 2024

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 16:30

LBV117 Magazine Launch Event
DSC9389
Networking
16 Jul 2024

LBV117 Magazine Launch Event

Blackburn Rovers Football Club, Blackburn, BB12 9EE

16:00 - 18:00

A Freelancers Introduction to Co-ops with John Atherton
Screenshot 2024-06-13 at 13.59.57.png.png
LBV Hub Seminars
17 Jul 2024 - 17 Jul 2024

A Freelancers Introduction to Co-ops with John Atherton

Society1 Coworking Space, Preston, PR1 3LT

14:00 - 16:00

The Business Network Central & East Lancashire
LBV Header (10).png.png
LBV Hub Networking
18 Jul 2024 - 18 Jul 2024

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Conversations in Creativity - Creative Networking Event
Untitled design-4.png.png
LBV Hub Networking
18 Jul 2024

Conversations in Creativity - Creative Networking Event

Society1 Coworking Space, Preston, PR1 3LT

17:30 - 19:30

Lancashire Economic Breakfast
LBV Hub Seminars
18 Jul 2024

Lancashire Economic Breakfast

The Mill, St Catherine's Park, Preston, Lancashire

07:15 - 09:00

Preston Freelancer MeetUp and Coworking Day
Screenshot 2024-06-13 at 13.55.10.png.png
LBV Hub Networking
30 Jul 2024

Preston Freelancer MeetUp and Coworking Day

Society1 Coworking Space, Preston, PR1 3LT

10:00 - 12:00

Chamber Breakfast Networking
Chamber Logo1.png.png
LBV Hub Networking
31 Jul 2024

Chamber Breakfast Networking

Pye Motors, Morecambe, LA3 3PF

08:00 - 10:00

Scaling your revenue: From zero to £1m in 60 months
CBP-logo LBV.png.png
LBV Hub Webinar
31 Jul 2024

Scaling your revenue: From zero to £1m in 60 months

Online, Online, Online

08:00 - 09:30

Online Women's Health Clinic
clinic.png.png
LBV Hub Webinar
06 Aug 2024

Online Women's Health Clinic

x, Online, x

12:00 - 12:00

International Coworking Day Open Day
1.png.png
LBV Hub Social
09 Aug 2024 - 09 Aug 2024

International Coworking Day Open Day

Society1 Coworking Space, Prestin, PR1 3 LT

10:00 - 13:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV116 Online Graphic
Subscribe now

Weekly news bulletin