New joint venture hub for farming
A new hub has been set up to help farmers set up a connection to go into business with one another.
NFU Scotland launched the Joint Venture Hub at the AgriScot event recently. The platform allows farmers to collaborate and open up opportunities for their businesses, providing information on share farming, contract farming and tenancies, case studies and a map service where individuals can register to offer an opportunity or to advertise themselves when looking for an opportunity.
Joint Ventures are an operational structure that allows for young people to start or develop a farming business, and also allow an existing farmer to further develop their business and/or reduce their day-to-day role on the farm.
Andrew McCornick, NFU Scotland President commented:
"This Hub is recognition of the need for a service to aid options for use of land, not only for the next generation but also for those looking to step back from day to day duties on the farm.
"There is a generation of enthusiastic and talented young people who feel like they cannot get a foothold in agriculture thanks to the soaring price of land and a lack of land availability. At the same time, a huge number of farm owners are approaching retirement with no clear successor to run the operational side of their business, leaving them with the feeling they have no choice but to divide up and sell off the farm they have spent decades, even generations, building up.
"NFU Scotland believes the options available within the Joint Venture Hub allows individuals to identify what will work for them and with the specialist help of consultants, accountants and lawyers, this process is made easier and will allow them to explore different opportunities to see farming businesses thrive."
NFU Scotland has been working with partners to create the Hub, including Johnston Carmichael, Gillespie Macandrew, Brodies LLP, Shepherd and Wedderburn, Savills and SAC Consulting. Members of NFU Scotland will be able to access specially negotiated arrangements with the partners firms of the Hub.