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Diversification

Diversification. Michael Mack Norfolk Rural Business Advice Service. Centre of Vocational Excellence. Easton College. Main Diversification Activity. Without an easily accessible grant to support diversification, how will farmers diversify?. Stop Diversifying: Probably Not.

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Diversification

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  1. Diversification Michael Mack Norfolk Rural Business Advice Service. Centre of Vocational Excellence. Easton College.

  2. Main Diversification Activity

  3. Without an easily accessible grant to support diversification, how will farmers diversify?

  4. Stop Diversifying: Probably Not • The 2006 Norfolk Farm Study outlines that 20% of Norfolk farms plan to diversify. • Building conversion to light industrial and office lets are favoured.

  5. Energy Function centre Other visitor attraction Other recreational land use Hosting events (occasional) Serviced accommodation Existing Other* Planned Processing/value added activity Country sports Equestrian Retail Non-serviced accommodation Off-farm employment Commercial lets 0 5 10 15 20 25 30 35 % of diversification Farm diversification: existing and planned

  6. What are the key barriers farmers will face? • The 2006 Norfolk Farm Study outlines that the biggest perceived barriers are: • Planning • Location • Finance • Risk

  7. Planned Diversification Activity

  8. To overcome these barriers and the lack of grants farm diversification will take a new direction Possible changes • Look at more innovative options • Work from the customer backwards • Look at projects with lower set up costs. • Prioritise cash creation and not asset development. • Take increased risks

  9. North Sea Rural • The North Sea Rural Project is grant aided through the EU’s Interreg 3b North Sea Programme. It involves co-operation and shared learning between six countries bordering the North Sea under three strands – social services, transport and economic development. • Under the economic development strand, Norfolk County Council leads the local partnership looking at promoting the re-use of redundant farm buildings for new enterprises.

  10. North Sea Rural: Outputs • Study of redundant farm buildings to see potential uses and issues. • Demand assessment report for light industrial use and office use • Highways appraisal of impact • Dissemination

  11. North Sea Rural: Dissemination Interactive diversification toolkit Guidance and support to help with the development of a new business • Web based • Supported by NRBAS

  12. Interactive Diversification Toolkit • Key business start up routes: • Added value • Attractions • Business space • Equine • Retail • Serviced accommodation

  13. We are now looking for ideas and issues from the industry and you to continue to build the toolkit. Launch at the Royal Norfolk Show We will let all of you know when it goes fully live.

  14. Questions Tel: 01603 748844

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