Farming: Developing resilient businesses

Individually and collectively, farmers are obviously thinking about Brexit and the likely transition and ultimate outcome. Will many farming businesses need to reconfigure radically? Will there be major consolidation? How will supply chains and markets be affected?

These are big questions but our sense is that farming business, big and small, are reacting by readying themselves to adapt to change, with a major focus on business restructuring and investment. We see an appetite for detailed business planning, a more robust commercial approach and, in many cases, active diversification – all of which is fuelling demand for funding and the associated legal advice.

The positive aspect of all this is that farmers recognise they are no strangers to market ‘choppiness’, albeit more usually delivered through commodity price fluctuations rather than regulatory change. It is all about building resilient businesses whatever path Brexit might take.