Rural accountants at Old Mill and Duncan & Toplis are encouraging growers to explore alternatives and other opportunities, following the closure of SFI.
“Many farmers are rightly disappointed that the second application window for SFI 2026 closed less than six hours after opening, leaving them questioning what to do next,” says Willem Puddy, head of rural at Old Mill. “Missing out on anticipated income may require adjustments, but it also provides an opportunity to review the financial position of the farm and make sure future plans remain right for the business.
“The first step is to establish what the anticipated SFI payments would have contributed to your business. Consider whether planned expenditure was reliant on the funding, whether costs can be adjusted, and what this means for working capital.”
Support payments still make up a significant proportion of farm incomes, with the firm suggesting that it makes up, on average, 30% of total business income. However, Willem says that missing out does not have to put other plans on hold.
“There could still be other support available and, dependent on your proposed activities, future opportunities that could be explored.”
It also remains important to keep SFI opportunities in mind, including considering which actions will suit their business when the next window opens.
Now could also be a good time to review investment and wider business plans, suggests Mark Chatterton, head of agriculture at Duncan & Toplis. “Some investments will remain worthwhile, particularly those that can improve productivity, reduce costs or support the long-term performance of the farm. But it could make sense for others to be delayed, phased or reconsidered,” he explains.
“The important question is whether the investment still makes financial sense. Consider potential returns, cashflow and the wider benefit to the farming operation.”
The wider review might also consider how the business could become more resilient, including assessing individual enterprises, improving efficiency, reducing unnecessary costs and considering diversification.