Farmers must learn to become more entrepreneurial to make more profit, according to a new report launched yesterday at the Oxford Farming Conference.
The research paper was produced by agricultural consultant Graham Redman and academic Dr Muhammad Azam Roomi, Cranfield University.
It notes that historically farmers were less profit orientated than most businesses, being more concerned with subsistence and survival.
The report suggests that this helps to explain why farming demonstrates a lower level of entrepreneurialism than other sectors.
It says farmers need to add value, engage with other businesspeople, nurture core business, create own opportunities, make better and fuller use of resources, and try new ideas.
The report also notes that farms are remarkably strong places from which to develop entrepreneurial businesses.
Oxford Farming Conference chairman Al Brooks said many potential entrepreneurs fear failure, either from possible financial loss or the comments it might generate from others.
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