Better prospects for young people in rural areas to exploit entrepreneurial opportunities may help making them stay, contributing to growth and prosperity of the rural communities. A new policy brief provides recommendations for farm diversification for a vibrant future for the Nordic and Baltic countryside.
A new policy brief from the Bioeconomy Programme (a strategic project of the Nordic Council of Ministers, managed by SNS and NKJ) presents initiatives and challenges related to young rural entrepreneurs in the Nordic and Baltic region. The aim is to improve policy-makers’ understanding of farm diversification when designing policies to attract and incentivise young people to live and work on the countryside.
The policy brief gives a view on the obstacles for making the youth stay in the countryside, as well as it gives examples of farm diversification and solutions to the problem.
The policy brief gives the following policy recommendations:
Expand funding mechanisms
• Expand direct subsidies and low-interest loans that focus on young farmers who aim to diversify their businesses to lower barriers such as access to land and equipment. This recommendation focuses on attracting, retaining and enabling young entrepreneurs in rural areas to explore new business opportunities and farm diversification.
Spread awareness of the potential of working within the bioeconomy
• Initiate public campaigns to provide a spotlight to young, rural entrepreneurs with a highlight on female entrepreneurs, and their diversified businesses. This recommendation focuses on making rural entrepreneurship more attractive to young people, emphasizing the unique value propositions and potential of rural lifestyles, and showcasing female entrepreneurs as role models to inspire other women to become farm successors.
Facilitate knowledge sharing and build a stronger group identity
• Support existing youth clusters, such as young farmers associations and coordinate new cross-regional events that bring together young farmers and rural entrepreneurs from across the Nordic-Baltic region. This recommendation focuses on facilitating knowledge sharing, networking opportunities, and building a stronger group identity among young rural entrepreneurs.
Investigate how to lower the high regulatory burden on diversified farms
• Launch a comprehensive study to investigate what support or training programs, financial assistance, or regulatory streamlining measures are needed to reduce the regulatory burden on diversified farms. This recommendation focuses on supporting diversified farms and encouraging farm diversification by lowering the deterring impact of high compliance and regulatory demands, such as health and safety standards or environmental regulations.