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What is Farm Diversification?
10 steps to Farm Diversification
Farm Diversification is the establishment on a farm of a new enterprise and is the term usually used when considering a non-agricultural or novel enterprise.
Estimates suggest that almost 40% of farm businesses have diversified.
10 steps to farm diversification
- Analyse the Business-SWOT: Strengths, Weaknesses, Opportunities & Threats
- Identify potential for change
- Assess Opportunities & Competitors
- Examine resources, facilities, labour & skills
- Do Market Research
- Consider Financial Feasibility
- Make a Business Plan
- Seek Planning Permission
- Organise Finance, funding & seek partnerships & grants
- Launch the project - take the committed step
More information is available on the SAC Farm Diversification web site at: What is Farm Diversification?