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CAP boost for ‘countrypreneurs’Proposed changes to the Common Agricultural Policy (CAP) could stimulate a new generation of 'countrypreneurs', according to a leading industry expert. Draft CAP reforms published by the European Commission last month include plans for a rural development 'starter kit' consisting of subsidies of up to 70,000 Euros over five years. In the view of leading rural business software supplier Landmark Systems, this could be just the boost required to encourage more farmers and country firms to experiment with diversification. Landmark Systems MD Nigel Parsons said: "According to the latest Farm Business Survey half of the country's 56,000 farms have some form of diversified activity, a figure which has remained stable since 2006/7. "But the rise of new technologies, particularly environmental applications such as wind and solar farms, is likely to drive this number up in the next few years. The added prospect of financial support in the form of targeted CAP funding could fuel a surge in rural diversification similar to that of the 1990s." Total income from farm diversification in England during 2009/10 was £360 million – around 15 per cent of total farm income. And in nearly a quarter of farms with diversified activity, income from the diversified enterprise exceeded that from the remainder of the farm business. Nigel Parsons added: "Diversification schemes are becoming far more sophisticated. Many of our clients have set up some form of separate trading entity within their existing business in order to keep a firm grip on management accounts and budgets. "Expanding into more complex diversification schemes such as those producing green energy requires a real professional approach to business planning and financial management." The proposed CAP reforms, which are due to come into effect in 2013, are designed strengthen the competitiveness, sustainability and performance of across the UK. |
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