Preparedness for when

pineapple

Is there also a difference between whether they are tenant farmers or owners? My cousin was a tenant farmer and didn't make much. But two local farmers that I know are worth a mint. Though this is perhaps more to do with the fact that they make a tidy income from renting out cottages/barn conversions.

Butterfly_Brain

They also have clever accountants who ensure that they avoid tax

Butterfly_Brain

Happy Mayan apocalypse day

maryb

shouldn't that be Happy Mayan Apocalypse Morning?:D

Butterfly_Brain

Oh yes I forgot it is supposed to be at 11.21am :rotfl:or is it 11.12 am.
Surprisingly it is also winter solstice the shortest day of the year. Hands up how many Druids are off to Stonehenge today?

GreyQueen

I suppose those farmers blowing their brains out with shotguns in despair over the state of the farming economy simply haven't got the right kind of accountants.:(

Sweeping generalisations don't help anybody, IMO. Some farmers are on easy street and some are on their uppers. It was ever thus; my family lost out as owners of very small farms iin the agricultural depressions of the early twentieth century. Things were so bad in our region that many farmers and farm workers emigrated.

My pal the Magic Greengrocer told me about a farmer he knew who was under contract to one of the big supermarkets to provide a particular veg for a certain time period. Due to unseasonal weather conditions earlier this year, this outdoor veggie finished a few weeks earlier than anticipated in the UK. He was held to the terms of the contract by the s.m. and had to import the veg. The nearest supply in the quantities needed was California and the import cost was tens of thousands.

The grower was broken by the deal. He'll probably lose his business over it.

Some business owners in other fields take less from their businesses than their employees, whilst carrying all the stress and risk.

I also know a gas engineer with one employee. His employee decided that £21k was too little and demanded more or he'd leave. Boss man opened the books to him and showed him the buisness costs and that he bore them all and took £8k per year to live on himself. He pointed out that there was no more money but if the employee wanted it, he'd have to go elsewhere. The other guy stayed; they both did the work but one was bearing all the costs of the 2 vans, the insurance, the training etc.

Life's complicated; a lot of businesses are effectively owned by the banks as their visible owners are so indebted. Doesn't take much to push them over. The mutli-generational farming families around my way selling prime dairy herds which they have been developing for 60+ years aren't lightweights, fly-by-nights or spivs. They're people who have had their backs to the wall for many years already and cannot see a way to continue to produce milk at below cost price.

Count my lucky stars that my family haven't owned land since the 1950s. The handful of low-quality acres wouldn't have provided an income and would only have been a burden.

Butterfly_Brain

I agree with you GQ and I didn't mean to imply that all farmers were rich landowners who can afford the luxury of an accountant, we have friends who have a small farm in Wales and they are struggling. It is when you hear of the likes of Prince Charlie et al who have avoided paying millions in tax for years that angers me

maryb

Oh gosh we're still here and it's 11.11

Butterfly_Brain

11.20 .....1 minute to go ............

Butterfly_Brain

Oh poo it looks like I will have to pay the electric bill after all