Farming Talk: Little chance of launching farming career

Does the cost of setting up a farm make a career as a farmer one that can only be inherited?

At our annual beaters' shoot, at the end of the season, I was standing with a young man who has recently been awarded places at various educational establishments across the country to read agriculture.

His preferred option, he told me, was a university in the South of England on a four-year degree course.

Standing by my side also, was my six-year-old son, Henry.

Henry asked him what he thought he would do once he had completed his studies.

He replied that he hoped to return home to run the family farm.

Henry said that he wanted to be a farmer too because he loved animals and wanted to work with them.

I said that I didn't think that it would be possible for my boy to farm, constrained by the costs of establishing a working farm.

Henry said that it wouldn't be a problem because he would farm with my equipment.

My farming, such as it is, could only be described as 'weekend farming' and I get away with doing what I need and want to do with a 20-year-old Zetor, pasture topper, sprayer, trailer and ingenuity.

The impending student, my son and I talked about the costs of equipping a farm for the next few minutes.

The student was relieved to be of the understanding that this was unlikely to be a challenge facing him.

With the help of my colleague Trevor Sheard, I have given this a bit more thought and reckon the cost of equipping a 300-acre mixed livestock and arable farm would be in the region of £350,000.

This includes some working capital, but not having to purchase the ground, cover Single Farm Payment Entitlements or having to erect any buildings.

How can new entrants fund this and still earn a living? The answer is that in all probability they cannot.

To my mind therefore, it seems that the answer to my initial question is probably and sadly 'yes'.

There will of course be enterprising and entrepreneurial types who will find a way.

Perhaps substantial capital, external funding or a smaller farm business can be started with an alternative employment.

It would be pleasing indeed to think that the industry at the heart of shaping, nurturing and caring for our beautiful countryside isn't completely down to filling 'dead men's shoes'.

Returning to my son, by Sunday, he had changed his ideas and had decided that to harness his desire to work with animals that a career as a vet would be the way forward!

Richard Jones-Perrott, partner, Balfours Property Professionals