Farm diversification – five areas to consider when planning to diversify

Diversification is a hot topic in this current climate.  From glamping and tea rooms to experience days and selling Christmas trees, farmers are finding new ways to make ends meet.  Johanne Spittle agricultural and commercial specialist at Ware & Kay Solicitors says ‘Diversification can help to transform an agricultural business, but only if it is properly thought through, with the benefit of professional advice and a strong underlying business plan.’ 1.Type of diversification The type of diversification that will work best for you depends on your circumstances, and, if you are a tenant farmer, the type of diversified activity will depend upon what is allowed under your tenancy or permitted by your landlord. Some of the most successful diversifications are those that utilise existing farm resources and infrastructure, or which tap into a gap in the…