Who are you?

One of the most important elements of running a business is knowing yourself first. You can then move forward with making goals and plans that will achieve your ambitions.

Back to Choosing farm business options

In order to make a plan – whether that is regarding entry or exit from the agricultural industry or anywhere in between – it is important to first identify your current position followed by your goals.

Current farm business owner, seeking to collaborate or expand business operations

  • Career farmers of any stage, thinking about business growth or diversification and how a business collaboration may assist this process  

  • Landowners or tenants who want to expand their business either in the same sector or into other sectors

Currently farming, seeking retirement plan

  • Late-career farmers, thinking about succession, planning to wind down from some of the practical aspects of running a farm, or to pass on experience

  • Landowners, who want to see their land used practically and gainfully, but who are not able to farm the land themselves

  • Active farmers, with land, may wish to diversify their agricultural business or beyond this without the risks and complexities involved with establishing and running several businesses at once

  • Estate owners or managers who have identified a gap in their estate system

  • Landowning trusts or charities wishing to find cost-effective ways of achieving their social or environmental objectives

New entrant

  • Farmers, with the training and experience to set up a new farm business, but without the land or capital

  • Experienced farmworkers or land managers, who have decided to run their own business, but who do not have the capital to buy land

  • People with a related business background, such as food retail or horticulture, who are keen to branch out into the business of land-based production

  • Communities or groups of consumers who wish to set up or invest in a Community Supported farm which will produce products on their behalf

  • Existing farmers seeking opportunities

Stakeholder

A stakeholder is an employee or family member with no legal stake in the business, who wish to have the opportunity to become a business member usually without any stake on the asset. 

Outcomes to aim for: 

  • A way of offering progression opportunity for staff members who show particular capability and dedication towards the business  
  • Provide security and reward for family members that perhaps contribute towards the business, such as a spouse or child  

One example of how this could work is an equity share farming arrangement. 

Complete a SWOT analysis of yourself and/or current business to gather the information required to analyse your situation

If you are already a farm business owner, complete a business objectives form to help you identify your current position

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