New Grant Schemes Herald Opportunity & Diversification

A new round of government grant schemes announced this month could boost productivity and unlock new diversification projects for rural businesses, according to an environmental expert at a County Durham firm of land agents and rural chartered surveyors.
 
Pat Cotterill, environmental stewardship specialist at Tow Law's Vickers & Barrass, has welcomed a new £50m Defra scheme that could make tens of millions of pounds available to farmers and landowners across the region.
 
Under the new plans, rural businesses that take advantage of the grant schemes could create jobs, boost tourism and drive growth in the local economy.
 
The Woodland Carbon Guarantee scheme seeks to encourage land managers to create new woodland in return for payments as those trees grow, unlocking potential new revenue streams.
 
The Defra scheme - which has also been welcomed by the Country Land and Business Association - could open new opportunities, encouraging farmers and landowners to plant more trees to help tackle climate change.
 
The scheme is set to offer successful participants the option to sell Woodland Carbon Units to the government at a guaranteed price every five or ten years up until 2055/56, providing an additional long-term income from forestry activities.
 
Farmers can still choose to sell CO2 on the open market rather than to the government, but the Defra scheme must be a positive move in helping to combat the effects of climate change.
 
Pat Cotterill said: "Those people who opt in to invest in new tree-planting initiatives will also be helping to tackle climate change in a financially advantage way. Trading in Woodland Carbon Units provides a versatile way for farmers and others to secure a new future revenue stream."
 
Farmers and rural businesses across the North of England are also being urged to tap into a £35m cash pot, which is seen as a boost to unlocking new commercial potential and future-proof enterprises.
 
The latest Rural Growth programme provides grants for start-ups and businesses, which could possibly create thousands of new jobs in rural areas. This latest funding round will help businesses to grow and prosper and should be considered by local farmers and landowners.
 
"It comes as a timely opportunity to provide exciting projects in business development, food processing and rural tourism with an added financial boost," she said.
 
"However, it's important you meet all of the criteria for the grant and that you provide a strong expression of interest.  The applications are in two stages, an expressions of interest form must be completed and if your expressions are endorsed you will then be invited to submit a full application."
 
 
The 2019 Basic Payment Scheme (BPS) rates have been confirmed by the Rural Payments Agency (RPA) following confirmation of the exchange rate for this year's payments and calculation of how many entitlements have been claimed for 2019.
 
Under BPS, farmers need to hold one entitlement for every hectare of eligible land they claim. The size of payments depends on how many entitlements are used, supported by the same area of eligible land and the value of those entitlements (SDA, Non SDA and moorland).
 
The greening has been calculated by taking the number of entitlements farmers have used with eligible land to claim payment and multiplying it by the greening value.
 
The RPA having been working through the 2019 BPS claims since early June to ensure that as many claims are made from 1 December 2019.    However, as many clients already know payments can be made late which has a major impact on cash flow.
 
Pat Cotterill added: "Smart investment now and with the right opportunities, many could benefit through securing future income. Any investment must be carefully considered and have a clear and concise business plan."
 
If you are considering a rural diversification project or would like to discuss your options, it's advisable to seek professional advice from experts who have relevant experience and can provide professional advice and support. Vickers & Barrass offers professional land agency and surveying services to farmers, estates and landowners. More at www.vickersandbarrass.co.uk