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William Tongue: Speaking at the Farm Business Innovation Show

William Tongue

Partner and Business Consultant  -  Berrys

Diversification or Distraction? Choosing What’s Right for the Farming Business

New enterprises need to be complementary to the farming business to deliver successful outcomes, and therefore need to fit well in practical, financial and strategic terms. The seminar aims to help attendees who are looking to develop new economic activities within farming business and give them guidance on how to understand whether a proposal will ultimately be right for them.

William will examine the need for farm businesses to diversify and the wider background issues involved in successful integration of new projects into an existing business. The seminar will draw on William’s experience both as a diversified farmer and an experienced farm consultant with a wide client base of varied agricultural businesses and will touch on whole farm economics, stakeholder objectives and assessment and selection of projects from both a practical and financial perspective. Discussion will include capital tax planning, benchmarking the existing business, understanding the needs objectives and viewpoints of the key people in the business and give some guidelines to budgetary assessment of new projects and funding criteria. Specific reference will be made to the growth and developing nature of the glamping market and how farm tourism businesses fit into the farm, along with alternative opportunities to consider.

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