The Courier & Advertiser (Angus and Dundee)
RBS announces support scheme for new entrants
Programme looks to address issues raised in survey
Young Scottish farming entrants are to be offered specialist support and advice in a new programme launched by the Royal Bank of Scotland (RBS).
The offer of dedicated relationship managers to help new entrant customers establish their farms is expected to help between 60 and 90 fledgling businesses in Scotland each year and address some of the issues raised in a survey commissioned by the bank in January.
Non-RBS customers will also be offered up to three years of free mentoring from a sector specialist as they establish their business.
The bank’s Harvesting the Future for Young Farmers survey of more than 500 young and potential new entrant farmers highlighted concerns that pose a significant challenge for young people seeking a career in farming.
The hurdles include “dead man’s shoes” – limited succession opportunities, often combined with the complexity of family dynamics; an inability to embrace new farming models such as share farming; and the problem of accessing funding and business skills. And more than a third of survey respondents said they did not have access to sufficient advice and resources to develop their businesses.
The bank’s team of business growth enablers will support new entrants by establishing regional mentoring groups through partnerships such as Women in Agriculture and the Scottish Association of Young Farmers.
The bank’s commercial and private banking chief executive, Alison Rose, said it was necessary to make it easier to enter the farming industry.
“Many mainstream banks operating in the sector have face-to-face relationship criteria which are outwith the scope of most young farmers. This means many do not have access to specialised relationship managers who understand the sector and can use their experience to guide their decision making,” she said.
“This programme, which will provide support for all new entrants in Scotland, aims to address these issues.
The programme will be open to new entrants to farming or agriculture who are under the age of 40 and who are not looking to expand a parent farm or amend an existing partnership.