With a worldwide supply chain disruption increasing the cost of production and driving inflation, cash flow issues are arising in many businesses - and farming is no exception.
With goods not only more expensive, the shortage of some essential products has seen many a disruption to Australian farming operations. Troy Constance, CEO of Sprout Agribusiness shares his tips for farmers to navigate tough times of inflation and supply chain delays.
“It’s a good idea to plan increases to credit lines that can be used against your expenses in advance, and plan for delays in supply chains as they’re likely to be an issue for a while,” Troy says.
“And prioritise all your business expenses so you’re only spending on what adds value.”
With a strong focus also on investment returns, Australian farmers are well equipped to ride out the rocky road ahead.