…into alternative livestock and crops
Rural lending opportunities could help farmers to boost their income by giving them the means to diversify into alternative livestock and crops.
Many farmers are feeling the pinch of increased competition, Brexit uncertainty, and the falling price of milk. In an uncertain economy and a changing industry, diversifying can bring in a valuable source of extra income.
According to Countryfile, over half of the UK’s farmers have now diversified in some form.
Some farmers are choosing to diversify into very different areas like leisure and tourism, which require significant investment to set up. Diversifying into alternative crops and livestock is less of a jump, uses existing skillsets, and is often more affordable.
Alternative livestock and crop ideas
Here are just a few popular alternative livestock and crop diversification ideas to inspire your new venture.
- Goat or sheep milk.
- Quail or duck eggs.
- Wild boar.
- Angora rabbit wool.
- Llama or alpaca wool.
- Edible flowers or herbs.
- Pharmaceutical crops.
- Free-from crops.
- Christmas trees.
Rural lending opportunities
For many farmers, diversification is becoming a necessity to stay afloat rather than an option. Whilst diversifying can be daunting, the results can be exciting and rewarding.
For most farmers, taking the plunge and deciding to diversify is aprofitable decision. Some farmers even find that their side-project grows into their main business. However, finding the funds to set it up in the first place can be challenging.
Rural lending opportunities provide farmers with the means to expand and grow their business. Whatever your circumstances, it is worth speaking with a specialist rural lending business like our team here at Richmond Asset Finance to find out more about how our short-term and long-term rural lending services can help you to grow your business and income.
To discuss your vision in more detail, receive free help and advice, or find out what rural finance options are available to you, give our team a call on 0113 288 3277.