GRDC Farm Business Update Western Region 2019
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This page contains update papers presented at the .
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Presented at
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• Your mind health is just as important as your physical health and shouldn’t be neglected. • Mind health means keeping your brain and emotional health in tip-top shape. • Use some or all of the nine evidence-based tips to keep yourself going well....
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Take home messages • Operating costs per hectare have risen over time substantially, increasing the financial risk to your business. • Cost of production analysis is difficult to achieve in a mixed enterprise farming business due to interactions between enterprises and ‘known unknowns’. • When applying inputs, in particular N, maximum expected pro...
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• Decision making is a skill. It can be learnt and practiced. • Past negative experiences can have a major influence on future decisions, sometimes resulting in significant missed opportunity. • A structured approach to making complex and sometimes difficult decision can help in making a good decision....
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• Know your current strategies. • Be long term focussed, not short term. • Work out what is your tax comfort level and be prepared to adjust these as your business grows....
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• Know the jurisdiction that applies. Review your obligations regularly to ensure compliance. Document everything. • Risk Management means labour hire needs to be planned and documented. • Knowing your obligations and complying, means the employment relationship can be governed with minimal risk. • Employment issues tend to surface in periods of hi...
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• The profitability of a farming system should be quantified over the whole crop sequence accounting for fallow costs and the length of the crop sequence/rotation. • Cropping intensity is a key driver of system profitability and risk, more so than the mix of crops used. Crop systems with higher intensities (i.e. less time in fallow) have higher ave...
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