Farming Accountants


EU referendum uncertainty

The farming community are used to coping with factors that are out of their control; take the weather for example – too wet, too dry, too hot or too cold – it’s never quite right!

Taking uncertainty in your stride is a day to day occurrence for resilient folk, so the outcome of the EU referendum is another uncertainty to be dealt with like the rest.

The vote is too close to call on the 23 June. No one really knows what will happen if we vote to leave. If we vote to remain, we have an idea of what the landscape will look like and more often than not you’ll be led to believe that you carry on with business as usual.

Personally, I do not think this will be the case. Change is on the horizon no matter what the result of the EU referendum. As business owners we understand nothing stays the same and the businesses we operate have to be robust to deal with uncertainty in whatever shape or form it takes. Maybe more than other businesses, farming has to deal with more than its fair share of uncertainty so whether we are in or out on the 24 June, you will still need to run your business to make the most of the rules and regulations that will govern our trading environment.

The markets may not like the answer it gets on 24 June but they will adjust, we will all adjust.

Even if the vote is to leave there will continue to be opportunities and how we decide to address those opportunities is up to us. We will each have different decisions to make and a decision for one business will not be the same for the next. Rest assured you will continue to make those decisions just like you do now when the rain continues to fall on your best field of milling wheat which you are trying to get inside the grain store.

We can do very little on the macro scale to affect the future for our business but we can make a big difference on the micro scale and make sure that the decisions we take put us and our businesses in the best possible shape to make the most of the future.

As a firm of professional advisors to the rural community, we can help with those difficult decisions; from being a sounding board to advising on the financial and tax implications of different courses of action. If like us you think doing nothing is not in your business’ best interests it sounds like we should sit down and discuss how we may be able to help.

In, out, up, down, we will all continue to do what we do best – keep calm and carry on.

The next step

If you would like to talk with us, please do not hesitate to get in touch on 01763 247321 or contact us via our webform.

Posted in: EU regulations

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