Recent announcements around new drought hardship loans will provide welcome relief for many farming businesses under pressure. There’s no question, support like this matters. When seasons tighten, cash flow becomes strained, and decision-making gets harder. Having access to funding can stabilise operations, keep things moving, and buy time. But it’s important to recognise what these…
Running a successful business requires more than just hands-on labour; it demands strategic planning and sharp management. One effective yet often overlooked tool to manage these complexities is an advisory board. Picture having a team of trusted advisors to offer guidance and insights, helping steer your business in the right direction.. An advisory board can…
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…
Risk management is important and it needs to be part of your farming business planning. If you were unable to work in your business, due to an illness or as a result of a farming accident, the question is: Would you be able to manage your everyday living expenses or maintain your business operations? We…
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.
Farm production planning comes with significant stress in terms of maintaining farm business sustainability and achieving profitability, and the fact is, a poor decision can have significant impact on your bottom line for years to come.
What if you could make more informed decisions about production efficiencies and understand the financial impact of different production or planting/stock options before you made decisions – would it help you to achieve better outcomes this year?
What’s fair is not always equal Strategise By Phillip “Dibbo” Dibben “Five Steps for Succession Success is a collaboration between Kelly Kelly Legal and Financial Services SA.” “We want to be fair when planning our legacy. We have an idea of the big picture and longer-term plans for the family business, and we want to…
Walk a mile in their shoes Identifying everyone’s needs and concerns By Phillip “Dibbo” Dibben “Five Steps for Succession Success is a collaboration between Kelly Kelly Legal and Financial Services SA” “We knew we needed to have some frank discussions but we didn’t know how to engage with the whole family and manage the process…
Less than a week after my wife and business partner Rosalie attended a call back after a screening through Breast Screen Australia, we received the diagnosis of early stage breast cancer. As business owners ourselves we know the importance of contingency planning. As part of our insurance reviews with clients, we live and breathe the…
When I suffered a heart attack at the age of 38, not only did it impact on me physically and emotionally, but it also affected me financially. I did not have insurance outside of super in place when I had my heart attack and now I am almost “uninsurable”. When I investigated insuring myself, most…