Free Drought Recovery Seminar for Local Landholders

28th Feb 2020

Strategies for physical and financial drought recovery are on the docket at GLENRAC’s free event next week: Emerging from the Big Dry – A Roadmap to Recovery for Your Land, Livestock and Finances.

Whilst landholders can breathe a momentary sigh of relief after some consistent rain fall across the New England region, the ongoing effects of drought are expected to be felt in the pockets and paddocks of farmers for some time to come.

At the Glen Innes Services Club next Wednesday night, local agricultural consultant, Sam Newsome, will discuss the impacts of drought upon farm businesses and how landholders can put future plans into action for the recovery and longevity of their farming operations.

With over 25 years of experience working professionally in agriculture in Australia and New Zealand, Sam has fine-tuned his technical, practical and financial management skills to help clients realise the potential in their farm businesses. He also brings with him 15 years of agribusiness banking knowledge – an insight that will be invaluable to any landholders looking to negotiate with financial institutions.

“With the recent Banking Royal Commission and government funded RIC loans (up to $2 million with two years interest free), there have been sudden and significant changes to how to fund your farm,” says Sam. “I will be talking landholders though the key aspects of a good funding plan and how to drive better return on assets managed.” 

The night will also include a drought debrief with farmer case study Rob Mulligan, a high performing Walcha based beef and sheep producer who has worked closely with Sam to develop his business over the last eight years. 

GLENRAC committee member, Mike Norton, emphasised the importance of local landholders implementing a financial management plan within their business 

“In the wake of the Commission, it has become clear how little banks understand about farmer lifestyles – how circumstances such as drought are out of a landholder’s control – and how slowly funding can be to arrive," says Mike.

“When it comes to finances, farmers must be proactive. They need to have all of their paperwork prepared to borrow money, even when they don’t need it. Because when the time arrives that they do, if the bank says four weeks, expect twelve months.”

Emerging from the Big Dry – A Roadmap to Recovery for Your Land, Livestock and Finances. Wednesday 4th March, 2020. 5:00pm-8:30pm. Glen Innes and District Services Club Remembrance Room. Free event. Dinner provided. 

RSVP by phone on 02 6732 3443 or email or drop into the GLENRAC office at 68 ChurchSt, GlenInnes.

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