Business Skills for New Entrants
Agricultural business (agri-business) management is essential when building or developing an agricultural business. By using tools such as cashflows, accounts, record keeping, and benchmarking, enterprises and business performance can be analysed. This can lead to reducing costs, increasing efficiency and profitability.
Business skills aid informed business decisions and equip people with the skills for applying for tenancies, joint ventures, borrowing finance, preparing for interviews, etc.
We have numerous resources including:
Business Planning & Financial Management
Creating a business plan is a challenging task that requires various elements including business objectives, financial projections, experience, forward planning, an operation plan and a management team. This guidance note will aid in creating a business plan.
Succession & Business Structures
When setting up a business you will need to decide what structure is best including sole trader, partnership, limited company or a limited liability company, this guidance note explains the key attributes to each structure. This has been written by a professional accountant.
Taxation In Agricultural Business - A Summary
This guidance note summarises taxation including, income tax, corporation tax, national insurance, VAT and making tax digital. This has been written by a professional accountant.
This was an interactive webinar, covering, the basic points surrounding business structure and income tax for new entrants to farming George Gauley from the farm advisory service was joined by SAC Consulting rural business consultant Chloe McCulloch. This meeting was hosted in January 2020. For the most up to date tax information always speak with an accountant.
Marketing & Negotiations
Marketing is about going to the market to identify what it wants rather than just changing something you already make or selling something you hope the market will take, this guidance note will take you through the marketing process.
Obtaining finance is often a limiting factor for many new entrants, but there are methods or using finance be it for livestock or machinery. This guidance note discusses the procurement process.
Sign up to the FAS newsletter
Receive updates on news, events and publications from Scotland’s Farm Advisory Service