Derek Makes Full Use Of New Entrant’s Scheme

DARD
14th September 2007

Over 200 young farmers have applied so far for the New Entrants Scheme (N.E.S.) with almost half approved to carry out major on-farm investment supported by interest free loans.

One young farmer who has taken advantage of the scheme was Derek Dunn from Donemana in County Tyrone.  Derek runs a large suckler, beef and sheep farm and used the scheme to invest in a range of items that provided benefits to his farm business.  One of the biggest investments was the construction of a new cattle shed which he built on top of an existing slatted tank.  Derek also invested in some machinery and one of the most useful has been the ‘snacker feeder’.  This is a quad drawn machine that allows ‘cobs’ to be fed to sheep cutting out the need for troughs or the labour involved in moving troughs.  Derek said, “The New Entrant Scheme provided extra incentive to me to push on with much needed investment and so make better use of time and labour in the farm business”.

Philip Downey CAFRE and Derek Dunn in his new cattle house with slurry tanker, both purchased using interest free loans available under the New Entrants Scheme.

New Entrant Scheme applications have come from Dairy, Beef and Sheep, Poultry, Pigs, Crops and Horticultural businesses.  Projects include purchase of machinery, livestock, poultry houses, new milking parlours, roofing yards, cow cubicles, improving handling facilities and building sheds.  Investment in all of these projects was justified in advance based on a business plan prepared with assistance from Philip Downey, CAFRE.

NES supports young people taking their first steps in business by refunding up to £17000 of interest over 5 years on new borrowings associated with investment in Agriculture.

Applicants must be under 40 years of age and have recently set up as Head of Holding.  The applicant must not have received more than 50% of the annual profit from the business in the past 5 years.  Land or assets do not have to be transferred to the young applicant.  However, their name must be added to the business reference number and to the position of receiving at least 51% of the profits before application.  The business must be viable and the applicant must possess or agree to attain key competencies in Agriculture / Horticulture.

This attractive scheme is planned to close within the next year and potential clients are encouraged to make their applications before funding runs out.  Application packs are available from Grants and Subsidies Branch, Orchard House, 40 FoyleStreet, Londonderry, Tel: 02871319900.  Alternatively, they can be down loaded from the DARD website.

To discuss details of the New Entrants Scheme, contact

Philip Downey by Email or by Telephone 02877721819.