Is your agribusiness financially flexible?

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FOR the most part, it’s been a good season.  

But have you thought about how you will manage that financially and are you prepared to respond to a crisis or opportunity?

While there’s no set definition, financial flexibility means you can do what you need to do on your farm when you need to do it, without compromising the larger financial picture.

“Whether it’s a major machinery breakdown in the middle of harvest, avoiding a risk or accessing funds to take advantage of a land purchase or lease opportunity, being financially flexible gives you a solid foundation to build your business on,” 

Purvis AgriFinance owner Deb Purvis said.
“It means you can plan for the future, while making the best financial choices along the way.

“Having a financially flexible agricultural business means you can respond quickly to change, establish future stability, adapt quickly and focus on running your business — with financial flexibility, you don’t need to waste time thinking about making a change or organising finance. 

“You can simply take the opportunity and get on with running your business.

“You can also build a more stable business, if you have to juggle the finances every time something needs fixing or you want to start something new, you’re going to be stressed. 

“If you’ve built financial flexibility into your business, you’ll be calmer, and your business will run more smoothly.

“These are all general benefits that apply across most types of business. “

Deb said flexible funding also helps with operations and cash flow, especially if there are seasonal differences, provides for farm management deposits, supports your retirement and succession plans, assists when you need to buy assets at short notice and makes it easier to deal with June 30 tax planning.

“The path to a more financially flexible future will not be the same for every business,” she said.

“Just as every farming operating is unique, so too are the options available to you.”

To find out how Deb can help you, call 0409 438 115 or email deb@purvisagrifinance.com.au.