OFC 2023: Report urges farmers to build on business resilience

The new report aims to support farmers in making changes and confidently tackling the most challenging situations

Farmers should focus on five priority areas to build their 'adaptive capacity' and business resilience, according to a new report launched at the Oxford Farming Conference.

The report, published by Trinity AgTech, urges farmers to improve their ability to adapt so they can more successfully anticipate, respond to and benefit positively from change.

It showcases the success metrics [PDF] of leading farm businesses and independent experts, across five focus areas: Business bravery, smart trust, learning, ability to adapt, and lastly, networking.

Dr Khajeh-Hosseiny, founder of Trinity Natural Capital Group, says that adaptive capacity is fundamental to success during what is described as a ‘VUCA’ era – volatile, uncertain, complex and ambiguous.

“VUCA makes it impossible to confidently predict the future,” he says, “Yet, the unique framework we’ve developed for this report will support farmers to think honestly, rigorously and systematically about how we do business in a VUCA world."

The report highlights a credible scoring system centred around determining farmers and their team’s adaptive capacity to develop a resilience mindset.

By considering how they objectively score across these five key areas, the report says that farmers can reveal to themselves where to develop their adaptive capabilities and assets.

The report aims to support farmers in making changes, creating buffers, and confidently tackling the most challenging situations.

Dr Khajeh-Hosseiny adds: “Shying away from change and striving for ‘business as usual’ is a natural characteristic, but more so today than previously, success comes from the ability to adapt to change and capitalise on the opportunities."

Dr Khajeh-Hosseiny adds that farmers have to be honest and upfront about their farm business position and mindset.

"We can no longer be complacent and hide behind inaccurate metrics if we are to capitalise on the opportunities that are currently present," he explains.

“For UK farmers, inhabiting a world of constant flux is not a new concept, but it’s no less daunting or challenging, however, we know farmers have adapted and overcome challenging times before, they have the vision and ambition to survive and thrive.”

The concept of ‘farming a new future’ runs throughout the report, stating that farms have two options; build resilience into their business or refuse to adapt.

"Neither are easy but the latter won’t pay off," he says, “The risk is that some ‘business as usual’ approaches that may have worked previously, simply won’t work in the unpredictable future."

Through a series of case studies and expert commentary, the report showcases how to examine options to leverage farm assets and natural capital and what the opportunities are to capitalise on these when the right mindset is adapted.

“There is no doubt that the agricultural sector is experiencing turbulent times and the future that lies ahead is uncertain," Dr Khajeh-Hosseiny says.

"But if one thing you can be certain of is your business’ resilience, then the unknown is something to look forward to and embrace."