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.

Source: Farm Business Survey
Source: Farm Business Survey

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?

Should you diversify out of agriculture? Consider how you could utilise your farms existing resources to improve the economic viability of your business?

Useful resources

Diversification Report | NFU
AHDB Diversification | AHDB
Farm diversification: ideas, grants and examples | Woodland Trust