How to survive on the farm
Primary producers have always been creative, otherwise they wouldn't survive. Their world is full of changing conditions and circumstances, to which they adapt, as a matter of course.
However, this does not always apply to the survival of the farm itself.
I read recently where Isobel Knight of Proagtive (based in Tamworth NSW) stated that "most farmers don't use their accountant to see how their business will stand the test of time or to delve into what's required to maintain its viability and give clarity and direction to the next generation."
She also indicated that farmers needed to lift their financial acumen by focusing on farm strategy for and involving the next generation. The aim should be to grow the asset base, not divide the asset pie.
One of the changes we have noticed is the concept of separating the ownership of the farming land from the entity operating business of farming on it. This can provide security for one generation and an opportunity for the next.
There is no one size fits all in family farming. Sometimes the family farming model is not a good fit at all.
We have the experience and expertise to assist in lifting financial acumen and providing assistance to all parties involved in finding creative strategies for the future.