News
Future of Subsidies
Saturday 9th November 2019
Worrying times?
To be clear this is not a political post - just one to make us all stop for a second and think about our own business's future...
In January 2018 Michael Gove confirmed subsidy's would effectively be safeguarded until 2024 South of the border. In June 2018 Fergus Ewing confirmed that an extended Brexit "transition period" would not see subsidies overhauled until 2024... positive news for the Country as a whole.
Fast forward to May 2019 when Michael Gove confirmed EU subsidy support to Scotland will remain until 2022. So somewhere along the lines two years of payments have potentially disappeared - worrying times for many.
Then this week in response to Fergus Ewing's letter to DEFRA seeking clarification on subsidy support AFTER 2020...the official response is that direct payments will continue into 2020. No mention of 2022 and definitely no mention of 2024.
Suddenly within the space of approximately 17 months; businesss' are expected to adjust, react or do something/anything to the prospect of perhaps not receiving funding after 2020.
On a daily basis I get asked by clients what should they be doing to prepare their business for the future...my advice is take note of where you are presently in terms of financial and technical performance, if you are doing something that is loosing or costing you money BE AWARE of it. Once you have this understanding and knowledge you can then decide what direction to take.
Over the past two years I have been working with many different rural businessss' benchmarking their enterprise's, breaking down their costings to see where changes can be made. The results to many have been staggering.
When you are so busy on a daily basis it is very difficult to find time to do this, but I really urge to take this time and get it done to be in the best position possible for any future changes...good or bad!
If you require any further information or advice please feel free to contact Cameron Consulting.