Farm Diversification -New Year, New Beginnings

Perhaps your new year’s resolution for 2010 will be to consider diversifying your farm business, by starting something new or taking forward an idea that you have had for some time.  If you are looking for new business ideas then why not come along to the Farm Diversification Awareness Days hosted by DARD’s Rural Enterprise team.  These events will highlight the steps that you should take to make your idea become a reality.  

The first Awareness Day will take place on Friday 22 January at David Maginn’s, Tory Bush Cottages on the outskirts of Newcastle and will include visits to neighbouring diversified businesses - Meelmore Lodge and O’Rourke’s Timber Products.  The second event on Tuesday 26 January will incorporate visits to two farms – Jim & Terry Edgar of Cunningburn Cottages and Jim Davidson of Fastrack Farm near Newtownards.  All these business owners are ideally equipped to discuss their experiences, the challenges they have faced and rewards of getting their businesses going.  Sharing experiences of dealing successfully with real business challenges and learning from others has been demonstrated as an effective way to develop your business. During the day DARD staff will discuss the issues which impact on the potential profitability of a new business venture by looking at establishment and running costs, marketing and sourcing finance.

In addition to attending Awareness Days farm families also have the opportunity to enrol on the College of Agriculture Food and Rural Enterprise, Diversification Challenge Business Planning programme commencing in Ballynahinch on Wednesday 3 February. The course is delivered on six evenings over a 12 week period and is focused on planning a new business alongside the existing farm business. The course helps participants to research their project and find out information that will help build a picture of market demand and potential viability.  It also looks at other aspects of business such as promotion, marketing, raising finance and estimating overheads that impact on the important bottom line of profit. These elements are also the basis of a business plan which is essential and can be used to support applications for financial assistance from the Rural Development Programme or lending institutions.       

If you are considering diversification or would like to generate additional income the Awareness Days and Business Planning courses could be of interest and benefit to you. If you are a member of a farm family and have a business proposal in mind or would simply like to hear more about diversification please contact Aveen McMullan 4461 8082 or Gareth Gormley 3025 5912 for more details and to register your interest in the Awareness Days or Business Planning course. Places will be limited so booking is essential.

Fastrack Farm, owned by the Davidson family, Greyabbey will be one of the diversified businesses featured in the Diversification Awareness Days on the 22 & 26 January 2010