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Let’s talk Diversification
For many, diversification is a viable way forward in a time of economic change within the agricultural industry and the UK as a whole.
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In the 2017/18 financial year farms on average generated a farm business income of £12,400 from diversifying out of agriculture. This represented 22% of the farms business income which was more than farms generated from agriculture (£10,400) for 23% of farms.
Almost 40% of diversified farms generated at least a quarter of their farm business income through diversification activities. Only 4% of farms generated a negative diversified income.
Are other farms benefiting from diversification?
Useful resources
Diversification Report | NFU
AHDB Diversification | AHDB
Farm diversification: ideas, grants and examples | Woodland Trust