GMG Financial Group have been involved in Co-Operatives in the local community for over 40 years.
We currently oversee and process invoices and accounts, collect money and pay suppliers for Moulamein, Tooleybuc and Cannie Ridge farming co-ops. Members of these co-ops are able to negotiate with local suppliers for better prices because they are joining together for bulk purchases and guarantee regular payment to the local supplier. This is a great benefit to both parties.
Grain Co-ops have emerged over the past few years and we are involved with Moulamein, Boort, Berriwillock, Nandaly and Landsborough West o-ops. These co-ops provide storage options for grain and marketing by facilitating back to back sales.
We are all aware of the plight of small rural towns which are in rapid decline, as the current economic environment is making it more difficult for these to be a viable business for people to run. These rural towns need a local businesses as they are isolated from larger towns and essentials are required to be supplied to the farmers and residents.
Our firm is working with two of these towns by assisting the Co-Operatives with financial advice, assistance and on going support. Several years ago Culgoa residents formed a co-operative to keep their local store running, this has been operating successfully for over 10 years. Recently Sea Lake locals joined together to keep their hardware store operating.
Our managing partner Rick Pickering was present at the recent take over of the Sea Lake Hardware store.
GMG are proud to be involved with these community Co-ops and wish everyone involved every success with their ventures.