The debate surrounding Brexit continues apace, fuelled by resignations from government and the recent visit of US President Donald Trump. But whether you support a ‘hard’ or ‘soft’ Brexit, what does it mean for you and your business? And how can you plan for the future in these uncertain times?
We will be leaving the EU on 29 March 2019. Whilst there have been calls for a second referendum, we have to accept that this is unlikely to happen. Whether you voted leave or remain is now irrelevant. We all have to prepare for and work towards the split. It would be short-sighted to do otherwise.
Many issues will affect the agricultural industry not least labour, immigration and trade deals. The final position on these will have a massive impact on how many farms will be successful in the future and conversely fail.
The Government has promised to maintain the current level of subsidies for three years, up until 2022. They will then continue for a further two years but as time goes on the obligations upon farmers in terms of widening public benefit will only increase.
Payment for simply owning and farming agricultural land will become a thing of the past – ministers want to see increased public benefit in return for the continued payment of public money.
Have you thought about, and made provision for, life without subsidies? Is diversification in some way a potential way of increasing your income stream? Have you looked at succession issues that you might be facing and how they may be impacted post Brexit?
These (and many others) are all very valid questions which need your attention and consideration to give you the very best potential for a business that will thrive and flourish post Brexit and beyond.