Financing a future for your farm business

Featuring insights from Mark Richards, UK Head of Equipment and Logistics Solutions at BNP Paribas Leasing Solutions, this article written by James Huyton first appeared on Farmers Guardian. Discover the full article here.

Financing a future for your farm business

Every business requires capital investment to grow, but with ever-increasing machinery
costs, is it time to revisit the market options beyond the traditional hire purchase route?

Even in a challenging economic climate, farm businesses still require investment to gain efficiencies to both retain and improve their competitive edge.

Payment solutions

With growing equipment costs and often longer payback terms, it is important that businesses not only choose the right piece of
equipment to boost productivity but also choose the most viable payment solution.

Mark Richards, Head of Equipment and Logistics Solutions at BNP Paribas Leasing Solutions helps delve into some of the options agricultural businesses can consider when financing new kit.
The global and UK political playing field has seen some significant changes in recent months, reducing confidence to invest for many small
businesses.

Mr Richards says: “It is not just global economic and political impacts that have affected things. Probably one of the largest impacts of the last 18 months to two years has been weather and the impact on harvest yields.
“In conjunction with that, there have been higher prices driven by inflation and higher prices driven by interest rates on borrowings as
well. So there is a double whammy situation.“

Read more…