RBS helping NT producers to make decisions and build resilience

Rural Business Support’s Lachie Hood returns to the Northern Territory this month (February 18-21) with an ongoing commitment to help Top End primary producers make decisions and move their businesses forward.

While Lachie’s visit is fast filling up, there are still a few spots available for producers to catch up with him in Darwin and Katherine.

Rural Business Support (RBS) is committed to working with NT industry groups and producers to help them take action to manage risks, changes and business challenges.

A Business Analyst at RBS, Lachie says that whatever the situation, whether a business is in a perceivably strong position or not, business decision-making can be challenging at the best of times.

“What’s a good decision? Someone once said ‘it’s when your heart, head and gut align’. In other words, if the numbers have been crunched and it all stacks up, you have a passion for your enterprise and your gut feel is right,” Lachie said.

“As we continue through phases of climate and commodity price variations, producers are often forced to make decisions under pressure during tight or uncertain times.

“The consequence of the wrong decision is always front-of-mind but in reality the consequences of indecision can be even harsher.”

RBS assists producers making decisions on a daily basis. Analysing historical figures, budgeting, analysing enterprise adjustments and forming drought management plans are all part of what is done to help producers to make more informed decisions.

“Having an independent party at the table working on the business with you, such as an RBS business analyst or private consultant, can be very worthwhile in helping you to feel more confident about the future of your enterprise – and even family life as a whole,” Lachie said.

In the past six months there have been many announcements made in regards to the Farm Household Allowance (FHA) increasing payments and eligibility.

“It is also worth noting that the Regional Investment Corporation (RIC) has now taken on Drought and Farm Investment Loans, which are well worth investigating,” Lachie said.

“Now is a good time for NT producers to sit down with us to look at how their business is going to manage those challenges that either are already causing concern, or that might be looming on the horizon.

“We can help producers to explore all available avenues of assistance.”

RBS representatives visit the NT up to eight times each year to assist rural businesses and meet with stakeholders. To make an appointment with Lachie please call 1800 836 211, call Lachie direct on 0439 286 550, or email l.hood@ruralbusinesssupport.org.au.