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Farm Business Health Check

Disruption is nothing new for farmers. For years, you've battled drought, flood, market volatility, Mycoplasma bovis, and COVID-19. But, as for the rest of New Zealand, staying positive and boosting the economy are vital.

“We’re all in the same storm, just different boats” rang true when it comes to the impact of COVID-19, supply chain issues and labour shortages on farmers around New Zealand. Despite challenges for all, most agreed that being an “essential” was a good waka to be in.

The challenges keep coming. It can be good to take stock of resources that may help you meet them.

Are you aware of the Income Equalisation Scheme?

It allows farmers to even out fluctuations in income by spreading gross income from year to year. Talk to us about whether it could help ease your tax position.

Seeking funding?

If you’re approaching your bank for financial support, go with a plan. They’ll be more likely to help if you can tell them the problem, what’s caused it, what you are doing about it, what you need from them, and how the bank will be paid back. We can help you strengthen your business plan and ensure you have all the financial information at your fingertips.

Storing chemicals on your farm?

If you haven’t done so already, you need to establish a hazardous substance location and hold a location compliance certificate for certain chemicals above certain quantities. Check you are compliant. WorkSafe's Hazardous Substances Toolbox could be useful to you.



 

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