There may be times when you add up all of your debt or look at your credit card statement and worry about how to manage your debt position. After such a long period of being in a low interest rate environment, the recent interest rate increases announced by the Reserve Bank of Australia may have…
Succession planning is critical for protecting the needs of your family and the farming business. If something goes wrong, you need to be able to make decisions that affect your future quickly. In an ideal world, the earlier you start succession planning for your family farming business, the better. In reality, the day-to-day operations of…
Dealing with competing priorities to be June 30 ready What a beautiful rain our area has had, I’m hoping that everyone got most of what they wanted. It could be said that the rain came just when the forecasters predicted it – they did say a wet autumn followed by a wet winter. Many of…
As most of our clients know, Dibbo uses the power of P2PAgri software to underpin the management and financial analyses behind our reports. Tune in to “Your Farm Business Podcast” to hear P2P’s developer, Mike Krause, as he interviews Dibbo around how this works in episode 6 – Farm business info: Easier & more powerful.…
One thing is certain… circumstances will change. Running a rural or agricultural business often means that family, business and personal matters are closely intertwined, and as the business transitions from one generation to the next, change is inevitable. Things won’t always go smoothly, and change can increase the likelihood of conflict, but don’t let it…
Achieving tax efficiencies and making the most of your personal or business cashflow is all part of well-considered financial planning. However, you’ll need to plan ahead at tax time.
Running an intergenerational farming business goes hand in hand with unpredictable production outputs, fluctuations in income and other financial and seasonal stresses. Being at the mercy of so many external factors can also lead to more personal stresses, such as feeling overwhelmed or a fear of failure.
‘Healthy, wealthy and wise’ isn’t just a saying – it’s now well known that your personal and financial wellbeing are closely intertwined.
The good news is, there are some everyday actions you can take to help build both personal resilience and a more resilient business.
Informed decision making aligned to your long-term goals is key to achieving farming business and personal financial success…
There is no doubt that drought has affected us all, in one way or another – personally and financially.
For farming businesses, access to finance is an important aspect of recovering from drought and planning for long-term business sustainability. And while there are several drought support initiatives available for farming businesses and families, the application and approval processes can be onerous and time consuming.
Wouldn’t it be nice to see the future… not just to get a head start on the coming seasons but to be ready and able to tackle any situation that gets thrown at your business.
While I don’t have a crystal ball, I can help you develop a resilient farming business that is able to manage through and recover from a crisis.