Irish farming remains resilient, but red tape and financial blind spots pose biggest threat
Farmers in a partnership are more likely to have a succession plan in place.
Despite an increasingly challenging environment with evolving environmental requirements, Irish agriculture remains both resilient and determined about the future.
Confidence among Irish farmers is on the rise, with 61% reporting a positive outlook, an increase on previous years.
This is according to the Irish Farm Report 2026 conducted by ifac, the professional services firm which provides specialist advice to the farming, food, agribusiness, and SME community.
The report, which contains the views of over a thousand Irish farmers, outlines key challenges facing the sector today. The survey was carried out between October and November 2025.
Notwithstanding concerns surrounding the Mercosur deal, ifac's eighth annual report highlights the most pressing daily concerns for farmers across Ireland.
The biggest source of frustration for the custodians of our land is the amount of rules, regulations, and bureaucracy involved in farming (48%), a concern that has risen to the top again this year, closely followed by input/output prices (44%) – a resounding issue voiced consistently for the past five years. Beyond this, one in five farmers worry about balancing their farm demands with off-farm jobs.
With an ageing farming population (only 7% of survey respondents are aged under 35), succession planning proves to be a critical and ongoing challenge for many families.
Alarmingly, one in five farmers do not have a successor at all. An additional one in five have identified a possible successor but have not yet formalised any decision.
For many, the top barriers to succession include the long-term viability of the business and the appeal of the farming lifestyle to the next generation (26% each).
These have consistently been the top barriers for the last number of years.
Farmers in a partnership are more likely to have a succession plan in place, with 52% of farmers in partnerships having identified a farming successor. Of those without a successor identified, over a quarter would consider leasing out land, while a further quarter would consider scaling back their farm operations.
The report also found that two in five of farmers do not have a Will in place, underscoring the urgent need for planning.
Regular financial planning is now essential for business resilience, yet the report exposes significant financial blind spots.
A worrying 70% of farmers do not prepare budgets, and one in three are unaware of their potential tax liability for next year.
Similarly, one in five have no private pension in place, and a third are unsure or not confident that their pension will provide sufficient retirement income.
However, one in 10 are actively planning to invest in private pensions this year.
Regarding employees, 32% of farmers are unfamiliar with the upcoming auto-enrolment pension scheme. While 31% understand the need for it, they express concern about the associated costs for their businesses.
One positive area is the adoption of technology, where some farmers are seeing benefits in improved productivity (36%) and better decision-making (28%).
Of all the emerging technologies, including AI and robotics, 44% state that renewable energy technology (e.g. solar, wind) will have the biggest impact on farms in the next five to 10 years.
Other key takeaways include:
- Finances: 30% stated they are building cash reserves; one in three are spending on capital expenditure.
- Succession: Three in five feel having a personal pension helps with succession planning.
- Technology: 43% have used technology to minimise chemical input on farm.
- Education/Skills: 93% of farmers would encourage someone interested in farming to pursue an agri qualification.
- Employment: 84% of farmers with non-family employees rely on word of mouth for recruitment.
Ifac CEO, John Donoghue, commented: “Farming in Ireland is increasingly difficult and complex, there are many challenges in producing great food, managing red tape, and staying in good financial shape.
"Our report confirms that despite the challenges, Irish farmers remain resilient and confident about the future. It also highlights the significant financial vulnerabilities of our farming communities. The fact that 70% of farmers don't prepare budgets is a major risk – to individual farms and the sector. This financial planning gap is leaving farmers unnecessarily exposed.
“For those not budgeting and actively managing finances, now is the time to start, and we can help. Our mission at ifac is to turn these findings into action and to ensure our clients succeed on the farm and in business.
"Our expert advisors have been helping farmers manage their finances and navigate the challenges and opportunities in the sector for the past 50 years. We are here to help farming families make informed decisions, actively budget, and strengthen their business resilience.”
Ifac’s Irish Farm Report 2026 also features helpful case studies and plenty of advice for farmers on a range of topics, such as succession planning, young farmer supports, applying for bank finance, collaborative farming explainer, auto-enrolment, and cashflow.
For more information, contact Eoghan Drea, Jamie Burns and the team in ifac’s Dungarvan office on 058 41074 or visit www.ifac.ie
