Success factors for business and asset development
Farming families are regularly faced with the question of how best to set up an agricultural business in a constantly changing social and political environment. In the current “Chart of the Month” from DLG-Agrifuture Insights, we present the most important success factors for asset protection and business and asset development.
As part of the current Agrifuture Insights study from November 2023 to the beginning of January 2024, we therefore asked participants to assess the greatest success factors for asset protection and farm and asset development.
The greatest success factor for business development across all three branches is seen in production optimization with a view to greater efficiency. This can lead to savings in farm inputs as well as working time. The expansion and conversion of the current location can also lead to an increase in efficiency and is therefore also seen as a success factor by the participants.
The participating farms see the abandonment of unprofitable operations and the associated development of new branches and business areas as further success factors.
Around half of the pig farmers surveyed consider the introduction or expansion of renewable energies as promising. Among dairy farmers and arable farmers, around 40% of respondents believe renewable energies to be promising.
The development of new marketing channels is more interesting for pig farmers (30%) and arable farmers (27%) than for dairy farmers (16%).
DLG-Agrifuture Insights – a comprehensive view on agricultural development
DLG-Agrifuture Insights is the DLG knowledge brand and platform for international trend analyses in the agricultural sector. It examines the business environment in agriculture in Germany and worldwide. For this purpose, farmers and people from agribusiness, science and consulting are surveyed annually on their assessments of the economic situation and development of agricultural businesses, as well as technology trends and innovations in the individual business sectors. A total of 3,336 people took part in the current survey in winter 2023/24, around 1,300 of them from abroad.