Diversification Options In Farming

Farm diversification is when a farm creates new revenue by extending their activities or services offered. These projects could work on a full or part-time basis alongside the existing farm or could completely replace the business model. Farms that successfully diversify are often able to put their existing farm assets to use.

Advantages of diversification

  • Capitalise on physical resources
  • Revamp existing skills
  • Intermix with local economy
Image

Choosing your options

The ways to diversify are as endless as your ambitions! But you can typically go down an agricultural route or enter a non-agricultural sector.

Diversified agricultural activities include livestock products such as: producing cheese, growing different crops and setting up a petting farm.

Non-agricultural diversion activities typically involve creating retail/catering outlets or tourism attractions. Popular projects include the introduction of independent camping sites (eg. tipi's, pods, glamping etc) or bed and breakfasts on your land where you can add your own personal quirky touches to make your business stand out from the crowd. With an increasing demand for artisan produce and upward trends in locally sourced food, launching a farm shop is a great way to sell your own farm produce and support that of other local producers. Some farms even choose to close their farms completely and start a whole new business project on their land!

Things to consider

  • Diversifying into other forms of agricultural activity does not usually require planning permission but it’s always recommended to contact your local authority as they will be able to help you.
  • If you choose to move into a non-agricultural sector, planning consent may become necessary for new buildings or changes of use for existing ones. 
  • Non-agricultural industries bring their own regulatory framework, understand your requirements and obligations.

It’s clear that diversifying can be a great way to create an additional income for farms and uses the assets that you already own. But should you require any additional finance to complete your diversification plans, Mulberry Asset Finance are here to help. To discuss diversification finance or any other finance solutions that may be available for your farming business, contact 07791555431.

Previous Next

“I am always grateful for the honest advice that I receive from Mike Robinson at Mulberry Asset Finance & his straightforward approach. It is refreshing to deal with a company that can communicate clearly & who genuinely wants to do the right thing for my business. I will definitely use Mulberry Asset Finance again & I highly recommend their services.”

Scott Burton, MD, Scott Burton Timber Harvesting

“D. Cain & Sons have had the pleasure in dealing with Mulberry Asset Finance for the past 10 years. We as a company have built a great relationship with Mike Robinson at Mulberry Asset Finance. Mike always goes above and beyond to provide his customers with an incredible service. D.Cain & Son would recommend Mulberry Asset Finance for all your financial enquiries.”

Darren Cain, MD, D Cain & Sons Ltd

“I had a coffee coaster with Mulberry Asset Finance on and decided to get a quote from them along with two others. They responded immediately with a quote. They gave a personal touch, whilst remaining competitive and efficient. I have now used them twice and found them a delight to deal with.”

Dale Benbow, Benbows Bros. Timber

“I use Mulberry Asset Finance because I know that they will look at my needs and efficiently advise me of the best options available for my business. Always my first choice.”

Peter Fryer, Managing Director, English Lakes Ice Creams Ltd

“Mulberry Leisure played a key part in arranging asset finance for our capital equipment spend during a large and daunting business expansion. The Mulberry team took the time to visit and understand our needs, then provide a range of finance options to meet our budgets. We look forward to working with Mulberry Leisure in the coming years.”

Paul Reynolds, Owner, The Traddock

“I have used Mulberry Transport for ten years. They provide an excellent service for my business and I can access finance to buy the various wagons, machinery and other equipment that I need to run my business. Finance is agreed and arranged within one week, I highly recommend Mulberry Transport.”

Jimmy Dickinson, Director, J Dickinson Transport Ltd

“A & H CARLISLE LTD have used Mulberry Asset Finance since 2012 and I can’t speak highly enough of Mike and his team, they have helped our business grow and their knowledge of a customer needs is impressive. They are always competitive and quick to react to our needs. I wish Mulberry Asset Finance continued success and hope to do business together for many years to come.”

Alan Falder, Managing Director, A & H Carlisle Ltd

“As a company we have been dealing with Mulberry Asset Finance for the past 10 years. We have found them to be so easy to deal with, they make things so simple and effortless, leaving us to concentrate on the day to day running of our business. Their help and advice have been instrumental in our growth and development of the business. Long may it continue!”

Mike Cooke, Managing Director, Breed Clean Ltd
Funding Circle FSB Member NACFB Chamber of Commerce

Our website uses cookies.
By continuing to use this website you agree to our use of cookies but you can opt out at any time.
For more information and for our Privacy Notice please click here.

Agree