Scheme launched to support new entrants
British Wool has introduced a scheme to provide cash flow support for new entrants to the sheep farming industry.
The initiative will provide eligible producers with upfront payments worth 100% of their annual clip value for the first two years of the scheme. After this, producers will transition towards standard payments, receiving 25% less of their prior year’s clip values upfront each year until year six.
At this stage they will align with the company’s standard payment scheme.
Successful applicants will also receive a priority wool intake and grading service through British Wool’s nationwide depot network.
“Investing in the future of the industry is an essential part of our strategy, and we want to play a key role in encouraging young farmers into the industry,” said Joe Farren, British Wool’s chief executive.
“Any start-up business requires support to be successful, so increased up-front payments during the first two years will help ease the pressure on cash flow.”
Mr Farren said that through this initiative he hoped to appeal to young farmers to market their wool through the company and thus safeguard the long-term future of British Wool.
Eligible producers should have kept sheep for fewer than five years and must not have previously been registered with British Wool.
Full details of the scheme and to download the application form, visit the British Wool website.
Application forms can also be requested by calling the Producer Services team on 01274 688666 or emailing firstname.lastname@example.org.