One of the frustrating aspects for farmers facing financial challenges is that much of this is out of their control. It is much easier to handle a financial situation that one feels that they are in control off. There are three major factors that can affect the finances of farming operations that the farmer does not have control over, yet each has a dramatic effect on their farming enterprise.
The farming industry in the UK is subject to regulations just like most of other industries. The farmers do not have direct control over the policies that are put in place that govern what they do with their farming operation. Although there are various organizations in the UK that do allow farmers to have a voice. But, many do not take advantage of this as they feel any extra activities they are required to take on is taking precious time away from the operating of their farming entity.
Farmers cannot control the markets that they serve. They can only hope that they have made the right choices when it comes to what their farming operation is going to produce. They can lessen the risks by being informed and by being savvy forecasters as to what may take place within these markets, but the farmer does not have any direct control over the markets and the crux of the market is going to be based on supply and demand.
In most instances, technology is a good thing, and this holds true for the farming industry. But technology comes at a cost. A cost which many farmers simply cannot afford. This means they are facing an increase in competition that is technology based and this creates a huge challenge for the average farmer.
Farmers that want to survive financially must focus on those elements that they do have the most control over.