NFU Cymru : Joint venture discussions at NFU Cymru Mid Gwynedd

Rhys Williams, a lecturer at Glynllifon who is now also part of a joint venture at Coed Coch Farms Ltd, has shared his experiences of his new farming enterprise at a recent Mid Gwynedd NFU Cymru County Conference.

Members flocked to the well-attended conference at the Black Boy, Caernarfon, to learn more about the process of joining a joint venture and the practicalities of such a venture on a sheep farm in North Wales.

During his presentation, Rhys gave three key principles of his system, which he currently runs with his two business partners, Harry Fetherstonhaugh and Emyr Jones. Firstly have a simple plan and stick to it. Secondly, as farmers are generally price takers do everything possible to manage costs, for example, making the most out of grass and keeping machinery and labour costs to a minimum. And finally, 'you can't manage what you don't measure' - the farm measures a range of KPIs, including regularly measuring grass growth and keeping a very close eye on budgets.

Rhys also talked about the importance of good communication. The business partners meet regularly to discuss priorities and have developed a brand for their enterprise, Hauora Romney, to help market produce from Coed Coch Farms Ltd through Twitter.

All of this is with the aim of developing a sheep production system which will be able to be sustainable without having to rely on CAP support payments.

Einir Davies, Development and Mentoring Manager at Farming Connect, who also spoke at the conference, said: 'Farming Connect currently has over 250 active participants at different stages of the Venture 'matchmaking' process, which pairs individuals wanting to scale back or exit the industry with those trying to achieve that all-important first foothold. Venture's integrated package of training, mentoring, specialist advice and business support is equipping participants with the skills, knowledge and confidence they need to find a business partner and set up a joint venture.

'We are currently supporting 36 new matches and seven of those have completed the process and are now trading as a new joint venture business. Around 80 providers are still looking for a match so we are eager to hear from new entrants looking for a route into the industry.'

NFU Cymru President Stephen James also addressed Mid Gwynedd members on a number of issues concerning the Union's work and priorities, including Brexit, bovine TB and NVZs.

NFU Cymru Mid Gwynedd County Chairman Edwin Noble, who took over the role from his previous County Chairman Richard Parry during the meeting, said: 'I would like to thank Rhys for giving a very in-depth and thought-provoking presentation. I certainly learnt a lot about the intricacies involved in a joint venture and the tools you need to make it a success.

'It's great to see a young farmer trying something new and having the confidence in the industry to invest in its future.

'Finally, I would like to thank Richard Parry for all the work he has done for members in the county over the past two years. His enthusiasm and passion for the industry is second to none and I look forward to his continued support over the coming years.'

NFU Cymru would like to thank HSBC Bank for sponsoring this year's 11 county conferences across Wales.