Recently, we surveyed different farming industry people for their thoughts and opinions, at the Central Districts Field Days in Feilding.
We had a range of respondents, so I feel it is fairly indicative of what is happening out there in the industry.
We asked farmers to rank 6 particular farm business challenges, from the biggest challenge, down to the smallest challenge. The challenges (in no particular order) were:
The biggest challenge? Financial - in other words, how cash flows, the profitability of their businesses, and creating profit. That will be no surprise to the industry.
The second biggest challenge was Farm operations.
Third was Business planning, followed further back by animal health, then a distant 5th back to product quality, followed very much last, by human resources.
Financial, Farm Operations and Business Planning were quite close in their survey scores. This could indicate that:
Perhaps farmers don’t really know how to cause their businesses to rock! It’s hard enough just getting through the year in terms of farm operations!
At Growfarm®, we provide the tools and support that sheep and beef farmers need, to take control of their businesses and unlock their potential. If you need help to get your profit, your farm operations and your business planning in order, get in touch through our website and find out how you can turn this around.
I look forward to speaking with you again soon, when I’ll release more from our industry survey.
Congratulations to Nick from Taihape who won the prize draw for those who completed our survey.
accurate thinking achievement action adversity all blacks autumn beef benchmarking business business operational literacy business owner business owner thinking business strength change client client masterminding cobalt communities community complimentary ebook compulsory levies confidence conversion of pasture into profit disruption doing what it takes do what it takes economy engage events failure family farm farm business farm business cycles farm business iteracy farm business profit farm business results farmer farmer attitude farmer confidence farmers farming farming for profit farm profit farms farm systems financial literacy focus funding generate governance growfarm growfarm season plan habit change kiwis legacy livestock livestock farming loyalty mistakes money nz economy older farmers ownership pasture pastures planning positive farmer attitude price makers pristine environment production productivity profit profitability profitable farming profit and sustainability profitlive profit methods profit on purpose profit periods profit principles profits profit vs income protein risk riskiness rural rural professionals sales scale sheep sheep & beef farming sheep and beef sheep and beef farm sheep and beef farming sheep and beef farm profit soil spare cash strategicplan strong farming industry success succession sustainability take control target pasture covers teach team topdressing unlock potential vision win/win work with nature young young farmers