Britain’s farmers are still feeling optimistic about the future
This is according to an MHA survey, undertaken at Cereals 2018, based on interviews with over 100 farmers from across the country.
However, the results also highlighted that pricing continues to be an issue, succession planning remains of concern and almost half knew nothing about the Government’s Making Tax Digital initiative.
- Almost 60% felt that there would be moderate or high growth in their business this year
- Nearly 40% see cereal prices as their biggest worry
- 50% feel that succession planning is of some or great concern
- 46% are unaware of Making Tax Digital
- 10% of farmers share machinery
- 38% choose their accountant as the first person to call on when advice is needed
The next few years could see some seismic changes in the industry as the whole future of support mechanisms is reviewed and every business should be looking at succession, cash flow and efficiency with this in mind.
At MHA Carpenter Box we have significant years of experience of acting for agricultural businesses of all sizes. Collectively under our MHA association, we act for over 1,600 agriculture clients. Our team of agricultural specialists take the time to understand the challenges facing the sector and apply this understanding in order to cater to the unique case of each client.
Please contact John Billings on 01903 234094 if you would like to discuss any of the issues raised in this report further.