Financial Literacy – Farm Business Strategic Review

Farm Business Strategic Review turning reliance to resilience

The Farm Business Strategic Review (FBSR) was developed by RBS with support from Primary Industries and Regions SA (PIRSA), Primary Producers SA and SA commodity groups.

The FBSR uses proven tools and on-farm support to assist farming families to consider fundamental questions around where their business is at, clarify where it is going and commit with confidence to where the family ideally wants it to be. The fundamental questions of “Where are we? Where are we going? How do we get there? How much will it cost? Will the bank support us? Who will help us?” are addressed through strategic briefing sessions, followed by on-farm support, with the program assisting each family business to develop a Strategic Action Plan.

Since its inception pilot versions of the program have been successfully delivered to farming families in the dairy, pork, grains and livestock sectors, including in drought affected regions, with the backing of PIRSA and industry bodies.

The program assists with identifying improvements in productivity, profitability and people. It also provides a clearer understanding of what banks think of each business and supports effective negotiation with banks and advisors.

Pilot’s success in SA dairy industry paves the way

An initial 30 SA dairy families were involved in the pilot, which commenced just prior to the Murray Goulburn price crash that resulted in five families having to leave the program. Of the 25 families that completed the pilot, 19 indicated $3.65 million in new investment intentions and a subsequent $2.7 million in bank funding was generated from their participation in the FBSR.

For more information about the FBSR please contact:

Nigel Robinson
Business Development Manager
T: (08) 8364 2577
M: 0499 556 488
E: n.robinson@ruralbusinesssupport.org.au