Delegates attending this year’s Farmers’ Union of Wales autumn conference, heard that for joint ventures to work, there has to be trust and mutual benefit in the partnership.
The conference, entitled ‘Joint ventures in farming – myth breaking and match making’ was held at the William Davies Conference Hall, IBERS, Aberystwyth, and attended by over a hundred delegates of all ages, who enjoyed a variety of presentations and workshops aimed at shedding light on the complexities of succession planning.
“In a bid to explore all aspects of succession planning we knew we had to invite a number of expert speakers to cover all aspects of succession planning and joint ventures,” explained the union’s younger voice for farming committee chairman Darren Williams.
The conference, chaired by Professor Wyn Jones, included talks by Duncan Montgomery of Whittingham Riddell chartered accountants on the subject of tax and financial planning, Euryn Jones of HSBC bank who explained joint venture planning from the Banks’ point of view, Nerys Llewelyn Jones of Agri-Advisor who examined the range of ventures and legal aspects of succession, Malcolm Thomas of JCP Solicitors who outlined his recommendations to Government from his review of the Young Entrants Support scheme and Tony Evans of The Andersons Centre spoke of his experiences facilitating joint venture farming contracts.
“To complement the speakers we also held a number of workshops facilitated by Kathryn Lewis and James Neame of Davis Meade Property Consultants on succession planning and the practicalities, Charles Coats of Charles Coats Associates Ltd looked at opportunities for succession on local authority estates, Gail Lewis of Agri-Advisor explored the range of available opportunities in joint venture farming and Tony Evans of The Andersons Centre hosted a session on how to make the best possible match.
“This conference put the spotlight on succession, which is often a taboo subjects for farming families. There are plenty of young enthusiastic people who wish to enter the industry and we know that there are those looking at the future of their farms whilst not necessarily wanting to relinquish everything. I hope that we have managed to clear up some of the myths and preconceptions about joint venture farming and started a process which will help those who have not yet planned their future and who may be interested in more information on the options available to them,” added Mr Williams.
“The conference was a means of kick starting a series of actions and events the union will facilitate to encourage farmers to look at ways in which their land will be farmed in the future, whilst offering them security and access to support. We also look forward to working with wider industry to push for a strategic approach on the way forward,” said FUW deputy director of policy Rhian Nowell-Phillips.
“Delegates heard that six out of ten people don’t have a Will in place and this is a worrying statistic for an industry who holds land in trust for the next generation, other feedback from the workshops suggest that farmers are also worried about security, trust and what will happen to them once they decide to hand over the reins.
“The FUW through its younger voice for farming committee is committed to helping farmers address the concerns expressed during the conference and we hope that the ideas generated will help facilitate a greater understanding of the opportunities available to farmers of all ages through a joint venture approach,” added Ms Nowell-Phillips.
[caption id="attachment_3118" align="aligncenter" width="1024"]
The FUW autumn conference speakers shed light on succession planning and joint venture farming. (from left to right) Conference chairman Professor Wynne Jones, Tony Evans of The Andersons Centre, Euryn Jones of HSBC, FUW president Emyr Jones, Duncan Montgomery of Whittingham Riddell, Malcolm Thomas of JCP Solicitors and Dr Nerys Llewelyn Jones of Agri-Advisor.[/caption]
[caption id="attachment_3119" align="aligncenter" width="1024"]
Delegates participating in a workshop with Kathryn Lewis and James Neame of Davis Meade Property Consultants on succession planning and the practicalities[/caption]
[caption id="attachment_3120" align="aligncenter" width="1024"]
FUW’s Darren Williams (left) assists Tony Evans of The Andersons Centre during a workshop on how to make the best possible match at the FUW autumn conference.[/caption]
[caption id="attachment_3121" align="aligncenter" width="1024"]
FUW autumn conference delegates enjoying a variety of workshops[/caption]
[caption id="attachment_3122" align="aligncenter" width="1024"]
FUW autumn conference delegates enjoying a variety of workshops[/caption]