Securing Farm Finance: What the Banking Royal Commission Means for You

Now is the time to sharpen your farm business tools for securing farm finance as credit may be more difficult to access as a result of the Banking Royal Commission. With the dust beginning to settle on the Banking Royal Commission report, now is the time for farm businesses to be proactive! Just like seasons have their cycles, the finance industry has its cycles and we could be heading into a ‘finance drought’. In other words, credit may be harder to get! To ensure credit is always available to your farm business, we need to understand what banks want, [...]

By |2022-11-28T01:08:10+00:00February 14th, 2019|Farm Business Risk Management, Farm Finances|0 Comments
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Knowing your Cost of Production: A risk management tool for the farm business

I was recently forwarded this interesting commentary from a trusted source in the US: What is interesting in this quote is that most of the strategies suggested here are for managing and improving production outputs. Of course, without production there will be no income. But as a producer, how do you assess what is providing your business with the best financial return? One of the main drivers to remaining competitive is measuring your cost of production at the end of each season. This information can provide powerful insight into how your business can be improved into the future. [...]

By |2022-11-27T23:54:40+00:00December 18th, 2017|Farm Business Decision Making, Farm Finances|0 Comments
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Are you making the most of your tax return information?

The completion of the annual business tax return comes as a major relief to us all, often with a heartfelt, ‘Thank goodness I don’t have to do that again for another year!’ However, the discipline of completing the annual tax return does have benefits apart from hopefully saving you tax: The process makes you assess another year’s income and expenses and can, with some editing, measure your business’ financial performance. It becomes even more valuable if you look at this edited income and expense trends over a number of years. In fact, as a tax return is the only legal [...]

By |2022-11-27T23:50:13+00:00November 15th, 2017|Farm Business Thinking, Farm Finances|0 Comments
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