Diversifying is the key, says Bell Ingram

THE news that current farm subsidies will continue for a further four years has given farmers and landowners a window in which to mitigate the probable significant reduction in the farm subsidy regime, says Bell Ingram.

The views of the politicians charged with negotiating Brexit does not augur well for a farming system that is predicated upon subsidies. However, it would seem likely that in upland areas such as Argyll any future payments to farmers and landowners will be in the form of grants for conservation.

It is against this background that Bell Ingram is working with a number of clients on plans to diversify away from agriculture and into other profit centres.

Just because a farm is rural does not mean it cannot be a well-run, diversified business incorporating activities that have no relationship to agriculture.

The renewable energy sector has in the past few years benefited from significant subsidies. Bell Ingram has been working with clients on hydro and wind power, and is now working with clients on anaerobic digestion, energy barns and offgrid solutions.

Off-grid is one of the most exciting and potentially lucrative areas, particularly for private house developers, which as yet has not seen its full potential realised due to the lack of battery capacity.

The private rented sector continues to show strong demand, although rental growth is somewhat static on the West Coast.

There has also been a considerable upturn in the demand for mobile phone mast sites, with several negotiations ongoing.

In these and in many other areas, Bell Ingram is working with clients to develop a coherent strategy for these uncertain times and would be delighted to discuss ideas with clients both old and new.