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Banking on severe weather support

Response to the impact of recent severe weather on farming and agricultural businesses from Bank of Scotland.

The severe weather and heavy snow that has affected many parts of Scotland over the past few weeks has had a significant impact on farmers especially during the busy lambing season. Bank of Scotland Head of Agriculture, Sandy Hay comments:

“The recent awful weather has occurred in the midst of lambing and will have severely impacted on farm productivity in many areas across the country; and it is not just livestock farmers who have been affected, as figures published earlier this month revealed winter plantings in the UK have also been hit by poor weather.

“As a team providing specialist banking services to the farming sector, we understand the impact the recent poor weather will inevitably have on farm businesses and are here to support them through these challenging times. Our network of specialist agricultural relationship managers across Scotland is available to talk about how best you can manage the financial implications of a tough season.

“We appreciate that farming is a long-term industry and the long-term outlook remains strong, but if you have concerns regarding the impact on your business of the short-term issues brought on by the terrible weather then we recommend talking to your bank as soon as practicable.

“High input costs and reduced outputs may be knocking cash flow and increasing your demand for working capital. Thinking ahead if you feel you will need additional finance in the short term, and speaking to your bank manager sooner rather than later, could make all the difference.”

 

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