A SURVEY conducted among 442 Ulster Farmers Union members to address the sometimes forgotten issue of who is going to take over the family farm, has found that almost half – 48% – of farm businesses have no successor in mind.
In the wake of these worrying results, the UFU and the Young Farmers Clubs of Ulster said that they would continue to work to establish a land mobility scheme to link young farmers with older farmers who are keen to retire, but who have no succession plan.
Of those surveyed who had not identified a successor, 53% said they would be interested in a succession/inheritance planning advisory service.
UFU president Barclay Bell said: “This does not come as a huge surprise but it does confirm that we are on the right track with our efforts to raise awareness about succession planning and a land mobility scheme that would link young farmers with older farmers seeking to retire.
“More education and awareness around options for land mobility and land consolidation are needed. The evidence suggests that farmers often rely on familiar short-term mechanisms, such as conacre, and largely overlook better options, such as partnership and long-term lease arrangements. This possibly reflects a lack of understanding and confidence,” said Mr Bell.
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