THE Welsh Government has announced that £6 million worth of funding will be available to young farmers to help develop their businesses.

The grant will provide £40,000 to 150 farmers as part of a Young People into Agriculture Scheme.

Applicants must be under 40 years old on 1 April and must be looking to establish a new business or develop an existing one. The funding can be used as working capital and will be paid to successful applicants in three instalments up to 31 March 2020.

“Applicants must be able to show that they have the skills to be self-motivated to drive their businesses forward and also have a keen interest in the wider agricultural industry,” said Kathryn Williams, a land agent with Davis Meade Property Consultants.

“As a part of the funding agreement applicants will also have to meet key performance indicators that will be agreed as part of their contract.

Expressions of interest can be made from 1 April to 31 May.

Points will be awarded according to the type of business, business structure, academic qualifications, level of continuing professional development and the strength of the business plan.

Applications will then be ranked according to how they meet the selection criteria until the maximum number (150) is reached.

“Only people who are setting up as head of a holding for the first time (by 1 September of the scheme year), or who started as head of a holding for the first time in the 12 months prior to 1 April are eligible,” Ms Williams added.