The second meeting of the Ayr New Entrants and Farming Successors group was an excellent meeting attended by 26 delegates.
Sandy Ramsay from SAC Consulting was the main speaker for the evening. He gave a very informative outline of the main joint farming ventures and detailed how they operate. He then when into specific detail about the most popular venture- contract farming. He provided examples of these venture across different farming types and explained who costs are allocated to both the farmer and the contractor and services paid. The pros and cons of contract farming was also explained to the audience.
The formal meeting finished at 9.30 pm followed by tea/coffee and informal discussions between delegates before departure at 10.30pm.
- Joint ventures are a good way of getting a start on the farming ladder or adding to an established business.
- Be aware of how the cost are allocated and ensure that it will be financially viable.
- If in doubt seek professional advice.
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