United Auctions (UA) are launching their own loan scheme to help young farmers start up in livestock farming today (Tuesday, June 18th 2013).
Scotland’s leading livestock auctioneers have secured the £500,000 fund as part of their long-standing livestock financing arrangement with Bank of Scotland.
It will address one of the key barriers to entry to agriculture by providing the chance for new entrants to access much-needed finance at start-up for purchasing livestock.
The loan can then be repaid with the sale of the animals.
UA’s initiative was inspired by and intends to complement the Scottish Government’s new entrants’ scheme, which aims to work with industry to lower barriers to entry and get more young people working in the food and farming sectors.
And the company has already provided support for two new entrants who were successful in gaining starter farm tenancies through the Forestry Commission Scotland’s Starter Unit Initiative.
David Leggat, Executive Chairman of UA, said: “It’s crucial to invest in the next generation of farmers as a priority. This new fund allows us to play our part in making it easier for talented, young people to gain access to capital and start a career in livestock farming.”
Rural Affairs Secretary, Richard Lochhead MSP, said: “New and young farmers are key to the future of the industry in Scotland. We need their enthusiasm, new ideas and fresh approach to compliment the great work that already goes on within the sector.
“The rural economy is crucial to Scotland and the Scottish Government is committed to attracting more young people into agriculture. I welcome United Auctions’ announcement, they are clearly backing up their words with action. I hope this encourages other businesses to do the same. This funding will complement the £2 million package of support that I have provided and will help new entrants establish a sound footing in the industry.”
George Lyon MEP said: “Securing support for new entrants and young farmers has been at the centre of our negotiations on the future CAP in Brussels over the last six weeks and we are making good progress in securing a substantive package of financial support to help get more young people into our industry.
“United Auctions are to be congratulated on their new scheme, which will provide a financial leg up to young farmers trying to buy breeding stock.”
He continued: “Ensuring that new entrants get access to vital financial support such as this is essential to the future of Scotland’s farming industry.”
Nigel Miller, President of NFU Scotland said: “UA’s bold initiative has broken through one of the growing barriers that lock new entrants out of farming. The finance package for funding livestock creates an exciting new opportunity for our future farmers to establish and grow and can breathe new life into the sector.”
NOTES TO EDITOR
Issued on behalf of United Auctions by JK Consultancy. For further information please contact:
Jenny Kumar on 07989 557198 or firstname.lastname@example.org
United Auctions (UA) are Scotland’s leading livestock auctioneers and procurement specialists and operate a network of different auction markets across Scotland, including Stirling, Huntly, Lairg, Dalmally, Tiree, Islay, South Uist and an area office and lairage facility at Oban. The company conducts auctions of both commercial and pedigree livestock, including the world-famous Stirling Bull Sales (previously known as the Perth Bull Sales) and provides farm-to-farm and farm-to-abattoir procurement services.
To find out more about United Auctions, follow us on Facebook.