‘Lack of profitability is baked into our industry’: how equestrian business must change to become viable

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Lack of profitability has become ingrained in the equestrian industry – but there are ways for businesses to be viable and compliant with the law.

This was the view of Ali Dane, owner of Hurston Dressage & Eventing, who spoke about the impact of national minimum wage (NMW) increases, at the National Equine Forum on 7 March.

Ms Dane said employers have to carry out business analysis; looking at key performance indicators, the market and threats to any business, for example. She said compliance is key, with wage legislation, insurance requirements and so on, as is forecasting and budgeting. Every autumn, she contacts suppliers about that winter’s stock and prices, checks the news for minimum wage increases, and then contacts clients about the following year’s price increase.

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Eleanor is an experienced journalist who spent over eight years working for local and national newspapers before joining H&H as news editor in March 2016. Passionate about equine welfare and exposing the truth, Eleanor has reported on all aspects of the industry, from Brexit to anti-bullying campaigns, and from dressage rules to mules. Her sport of choice is showjumping, in which she competes her own horses, and she also enjoys reporting at local jumping shows through to international championships.

‘Lack of profitability is baked into our industry’: how equestrian business must change to become viable

“As an employer in the equestrian industry, this topic is on my mind almost daily,” she said. “We’re now about to see the biggest ever increase to the top bracket.”

The top-rate NMW goes up from £10.42 to £11.44 on 1 April, and the age at which this applies will go down from 23 to 21. As Ms Dane pointed out, this will mean a 21-year-old working a 57-hour week will be entitled to £10,000 more per year.

“If our industry is to survive, we need to adapt, modernise and professionalise,” she said.

“I increase prices every year, as everyone should,” she said. “Ensure clients pay a month ahead and are aware of deadlines as the bills don’t stop.

“And people are the heart of your business. Horses are the raison d’etre but don’t pay the bills; you need to value your people as much as your horses.”

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