Ifac launch our 2025 Irish Farm Report
Irish farming is in a state of flux and there is now an evident level of frustration among farmers because of the increasing amount of bureaucracy involved in running a farm business on top of fundamental changes to farming practices, resulting in 60% naming rules and regulations as their top concern. This is closely followed by input prices (54%) and the weather (48%).
Yet overall, 51% of farmers are positive about the future - an improvement on last year (46%) but below the optimism levels of 2023 (56%). The report titled, ‘The Next Generation: The Changing Face of Agriculture’, features findings fromifac’s annual farmer survey, containing the views of over 1,035 Irish farmers (surveyed between October and November 2024).
View Our 2025 Irish Farm Report
The report features findings from our annual farmer survey containing the views of over 1,000 Irish farmers.
Some key takeaways
23% say the biggest barrier to succession is the lifestyle does not appeal to the next generation
70% of farmers do not prepare budgets
56% cite renewable energy technology as the most significant technology on farms
1 in 5 farmers need additional slurry and soiled water storage
For the fourth year in a row, input prices are a big concern; 1 in 2 farmers state input prices as their biggest financial challenge. The findings also point to other gaps in farmers’ financial planning and knowledge such as 70% not creating budgets, exposing them to financial risk. And when it comes to prioritising pensions, 1 in 3 don’t know if their pension will provide sufficient income in retirement and 39% of tillage farmers have no private pension in place (compared with 22% of all farmers). In addition, 40% of farmers are unfamiliar with the upcoming Auto-enrolment Pension Scheme and 32% of farmer employers are unaware. This whole area is a red flag for the sector especially as pensions play an important role in personal security later in life and serve as a practical tool for managing farm succession.
In relation to succession, the findings again demonstrate that it’s an ongoing challenge for the industry, even though slightly more families are starting to tackle succession planning. The report shows that 23% say the biggest barrier to succession and securing the future of their farm is that the lifestyle doesn’t appeal to the next generation – now a growing issue for the sector. Today, 1 in 3 farmers have chosen a successor however this leaves 1 in 5 with no successor at all and a lot of farms in limbo. Interestingly, one model that supports succession is farm partnerships - half of the farmers in a partnership have identified a clear successor. Also, 65% are unaware of the Succession Planning Advice Grant to help with the legal, accounting and advisory costs of succession planning.
Concerning the environment, 56% of farmers cite renewable energy technology as the most significant technology on farms, benefitting the environment. 1 in 5 farmers say they currently need additional slurry and soiled water storage but are likely not acting until the Nitrates Derogation picture is clearer for the longer-term.The findings also show that employers are turning to word of mouth to find non-family employees, with 81% relying on word-of-mouth for recruitment. In addition, the report reveals a stigma surrounding mental health in the industry - 48% of farmers who suffered with depression in the past three years did not seek help, demonstrating the slow uptake by farmers of services and supports across rural communities.
Other key takeaways include:
Overall outlook: 67% intend to remain in farming over the next 5 years, with a further 24% unsure of their future plans
Finances: 1 in 4 have borrowed money in the past 12 months
Succession: 1 in 3 over 50s do not have a Will in place, exposing beneficiaries to tax issues
Employment: 1 in 4 dairy farmers stated worker shortages as a key challenge
Technology: 42% see technology enhancing decision-making on-farm, with 37% saying it improves labour efficiency
Health & wellbeing: 1 in 2 farmers who suffered with depression are unsure about their farm’s future compared with 1 in 3 farmers overall
Environment:
45% of beef farmers and 59% of sheep farmers would consider organic farming, compared to only 32% of tillage farmers
64% of dairy farmers are in nitrates derogation
46% of dairy farmers expect any change in nitrates limits to have a serious impact on their business
John Donoghue, our CEO said:
“At ifac, with deep roots and over 30 offices within farming communities throughout rural Ireland, we have the local understanding and knowledge, and a growing network of expertise to help our clients navigate the opportunities and challenges they are facing. We have been helping farming families manage their finances and strengthen their businesses for the past 50 years.
“The farming industry is changing fast and with this change comes added pressures for Irish farmers, as highlighted in our seventh Irish Farm Report. While there are still many known unknowns that will greatly impact the sector such as the future of Nitrates Derogation, better information about farm performance and cash flow can relieve some of the pressure on farmers. Farming is one of the toughest businesses to be in and farmers need to be highly skilled in so many areas, including managing finances. At ifac, we can help farmers with developing the financial plan for the farm and the succession plan when it is needed. Getting farm finances ready for whatever the future might bring. Our Report also once again highlights the extraordinary resilience of Irish farmers, despite the challenges. I hope our Report is a valuable tool for farmers and it is essential reading for anyone with an interest in Irish agriculture.”
View Our 2025 Irish Farm Report
The report features findings from our annual farmer survey containing the views of over 1,000 Irish farmers.