Tag: Richmond Asset Finance (page 6 of 6)

Using rural lending to diversify…

29th April 2019 / / Comments Off on Using rural lending to diversify…

…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.
  • Ostriches.
  • Angora rabbit wool.
  • Llama or alpaca wool.
  • Edible flowers or herbs.
  • Pharmaceutical crops.
  • Free-from crops.
  • Pumpkins.
  • 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.

What effect could a no-deal Brexit have on the farming economy?

20th April 2019 / / Comments Off on What effect could a no-deal Brexit have on the farming economy?

As a leaked cabinet letter warns of the chaos a no-deal Brexit could cause, we’ve looked at how it could affect the farming economy.

Earlier this month a leaked letter from cabinet secretary Sir Mark Sedwill warned that a no-deal Brexit could cause a 10% increase in food prices and a devastating UK-only recession worse than that of 2008.

This news came just days after the EU chief negotiator Michel Barnier warned that a no-deal Brexit is becoming more likely “day after day”.

As parliament currently work to try to stave off a no-deal outcome, we’ve looked at how this result could affect the farming economy.

The affects of a no-deal Brexit on the farming economy

Agriculture employs 3.8 million people and generates £113bn for Britain’s economy according to The UK in a Changing Europe. A no-deal Brexit is likely to throw the whole industry into turmoil, not just negatively affecting the farming economy, but Britain’s wider economy too.

Just a few of the potentially devastating effects a no-deal Brexit could have on UK farming include:

  • A ban on the export of animal products from the UK to the EU until the UK is granted approval.
  • Uncertainty over future import/export tariffs.
  • A ban on exporting organic products as the EU will no longer recognise UK organic certification bodies until approval is granted. Organic exports account for around 20% of the dairy industry’s total organic sales.

The process of applying for approval for export is not a quick one and can take months, during which time many farms would suffer significant losses that could put them out of business.

National Farmer’s Union president Minette Batters has warned that “a no-deal Brexit would be disastrous, not only for our farmers but for the public too” and that it should be “avoided at all costs”.

Agricultural equipment that can help to lower ammonia emissions

10th April 2019 / / Comments Off on Agricultural equipment that can help to lower ammonia emissions

Farmers are being encouraged to invest in new agricultural equipment and tools to help them to lower their ammonia emissions.

Particulate matter is a type of airborne pollution made from a mixture of small solid particles and liquid droplets including organic chemicals, dust, and acids.

Particulate matter can be inhaled and has been linked to several health problems as well as damage to wildlife habitats and wild plant species.

Agriculture creates a large amount of ammonia emissions, which play a key part in the formation of particulate matter. Levels of ammonia and particulate matter in the atmosphere are monitored closely by DEFRA.

What causes ammonia emissions?

According to Farmer’s Guardian, around 87% of the UK’s ammonia emissions come from farming activity.

Just some of the agricultural causes of ammonia emissions include:

  • Manure application.
  • Livestock housing.
  • Sewage sludge application.
  • Manure storage.
  • Fertiliser application.
  • Livestock grazing outdoors.

Tackling ammonia emissions

Ammonia emissions from agriculture have been in the spotlight recently after the government launched aClean AirStrategyearlier this year to cut air pollution. 

Farmers are being urged to invest in agricultural equipment and machinery that will help them to reduce their ammonia emissions.

To reduce emissions farmers need to find ways to retain the valuable nitrogen found within manure and slurry and then apply it using low-emission techniques.

Just a few types of agricultural equipment that can be used to lower ammonia emissions include:

  • Covers for slurry tanks and solid manure.
  • Specially designed livestock housing that reduces the amount of slurry exposed to air.
  • Low emission spreaders.

Funding agricultural equipment to lower ammonia emissions

You may be able to receive help and funding towards the costs of agricultural equipment to lower ammonia emissions through government schemes like the Clean AirStrategy, Countryside Stewardship Scheme, and Countryside Productivity Small Grant Scheme.

If you don’t qualify for funding or require further financial help, then Richmond Asset Finance provide a range of farming finance products to help you acquire the agricultural equipment you require. 

To discuss your requirements in more detail, give our team a call on 0113 288 3277.

3 key things to consider when applying for a farm loan

5th March 2019 / / Comments Off on 3 key things to consider when applying for a farm loan

Thinking about applying for a farm loan? Check that you have prepared this key information first.

At Richmond Asset Finance we aim to make applying for a farm loan as simple, quick and pain-free as possible.

Our farm loans have helped numerous farmers to gain the agricultural assets they need to grow and thrive.

Before applying for a farm loan it’s helpful if you can prepare key information about your business and its plans, to increase your chances of securing finance and speed up the process.

The three key things that lenders will look at when deciding whether to grant finance are:

Business plan– Being prepared is key to securing a farm loan. Having a business plan and financial projections all planned out can help to reassure lenders that you’ve thought things through and get them onboard with your vision.

Creditworthiness– Before applying for finance you should find out how your credit rating is looking. Funders are more likely to invest in businesses that they deem to be less risky, but that’s not to say there won’t still be a financing option for you if your credit rating isn’t great, it’s just best to know where you stand from the start.

Financial information– When applying for a farm loan you will be required to give evidence of your current financial situation. This may include copies of your bank statements, balance sheet, cash flow statement, and details about existing assets.

At Richmond Asset Finance we have over 10 years’ experience helping farmers to successfully secure farm loans to grow their business. We can advise you on everything you need to make your farm loan application successful. Just give our team of experts a call on 0113 288 3277 and we’ll be happy to help.

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