In April 2024, Investec Wealth & Investment (UK), commissioned an independent research agency to interview 100 freehold farmers to illuminate the changing conditions, aspirations and challenges facing the agricultural sector. Those who were interviewed included arable, dairy and livestock farmers.
Investec Wealth & Investment (UK), is for the third year running, the official Wealth Management Partner for The Game Fair. The partnership enables Investec Wealth & Investment (UK) to further strengthen its commitment to supporting rural and farming communities across the UK, along with innovators who are finding new ways to help protect and preserve landscapes for future generations.
Key findings
The five key findings from the research are:
1. UK farmers are showing entrepreneurial spirit as they diversify their farms and income
2. UK farmers are focusing more on renewable energy, showing their own commitment in the struggle against climate change, as well as increasing alternative revenue
3. UK farmers are facing debt as they take on rising costs, yet are focussed on finding grants and subsidiaries
4. UK farmers are dependent on a familial succession plan, with nearly nine out of 10 farmers having a succession plan in place
5. UK farmers are heavily reliant on their farms to fund their future retirement
Scott Jones, Divisional Director – Southern Offices at Investec Wealth & Investment (UK), said: “Our survey shows that some farmers are having to diversify away – at least in part – from traditional arable, dairy and livestock farming. Many feel that they are being led to these new enterprises because of the current market dynamics, but that they are also proving to be economically attractive. There doesn’t appear to be a one-size-fits-all approach to diversification with farmers showing their entrepreneurial spirit to try out a whole host of new ways to use their land, from carbon capture, to glamping, making new products or even contract farming with local supply chains.
“Whichever route farmers and landowners decide to take, we can help to navigate this journey whilst protecting and building assets and wealth along the way, for today and for future generations to come.”
James Gower, Managing Director of The Game Fair, commented: “The findings from the research highlight key factors affecting the farming community which is an important part of the future of our countryside. Our partnership with Investec Wealth & Investment (UK) is at the heart of our drive to create the perfect opportunity at The Game Fair for farmers to come together to share values, discuss the latest topics and find solutions to the challenges they face.”
Tickets are on sale for The Game Fair including the VIP Enclosure, sponsored by Investec Wealth & Investment (UK).
