Finance In February

#FinanceinFeb

Your Accountant keeps the score, Meridian helps you with the game plan!

Finance in February is an initiative of Meridian Agriculture designed to stimulate your thinking about the allocation of your resources.

Our staff are happy to chat with you regarding any financial matters, please see below for details of our finance business advisors within the Meridian Ag Team.

Meet our Financial Business Advisors:

Paul Blackshaw

Paul is a Farm Business Advisor with Meridian Agriculture. He is a specialist in farm business economics with experience in financial analysis, benchmarking, succession planning, industry extension projects, rural financial counselling, strategic leadership and planning.

M: 0427 546 643

E: pblackshaw@meridian-ag.com.au

Warren Blyth

Warren is a Senior Farm Business Advisor with Meridian Agriculture. He works closely with corporate and family farming operations in developing strategic and operational objectives, assessing business through financial analysis and budgeting. Warren has excellent project management, commercial analysis and business development skills. He also supports individuals performance through coaching.

M: 0428 508 153

E: wblyth@meridian-ag.com.au

James Whale

James is a Farm Business and Livestock Advisor for Meridian Agriculture. James works closely with groups of producers in a coaching and mentoring role. He assists individual businesses with business strategy, resource allocation, performance monitoring and livestock productivity.

M: 0428 374 046

E: jwhale@meridian-ag.com.au

#FinanceinFeb

Finance in February is an initiative of Meridian Agriculture designed to stimulate your thinking about the allocation of your resources.

Over the next twenty years you will need to more than double your income to stand still. How will you invest to ensure that your income doubles?

Concerns over sizeable taxable income this year? What steps will you take between now and July 2017? Increasing expenditure is a great way to reduce tax obligations – BUT – expenditure in the wrong areas will be a mistake! Remember the actual tax saving makes up only part of the full expense.

Unless you control your money, making more won’t help. You’ll just have bigger payments.

The best business operators will think very carefully about how to use any cash surplus this year. Finding the best use for one can have dramatic longer term impacts. Contact one of our Finance Business Advisors to discuss your options.

Financial success, as well as most successes in life, is not about perfection, it’s about direction.

The most profitable farms aren’t larger farms or farms with less debt. Interestingly they are businesses that generate more income per hectare from similar expenditure on inputs. Choices regarding on-farm expenditure and investment can have big impacts!

It is important to know how each of your enterprises faired in 2016. Do you really know? Or do you just think you know?

Some mixed farming businesses consistently retain 30% of total farm income as profit. The mainstream retain 5-10%. For a business with an annual turnover of $1M. Now that’s a big difference!

Financial management is at the heart of any business. It is the one area that can drive it forward. Contact us now to discuss your options.

It’s worth spending some time reviewing your insurance, including getting new quotes. You could be under or over insured, and you could easily save you thousands in premiums.

Insurance can cover some risks, for others risk is mitigated by a variety of strategies.

Contact us for a copy of our Risk Management checklist or download below.

You can reduce risk by insuring for increased business expenses folllowing a loss. For example, the cost of agistment when fodder has been burnt.

The greatest risk for most family businesses is splitting the ‘swag’. Talk to us about succession.

Forward budgeting requires time and energy, but the investment is essential to question intended management and devise the best business strategy.

Being in control of your finances is a great stress reliever. Need assistance?

The money market is very competitive, are you getting the best deal?

Start thinking about your 2017/18 budget now. It seem a long way off, but will sneak up quickly.

Whether you are looking to invest profits, or to borrow money, Meridian Agriculture can assist you in assessing your options. Call us on 03 5341 6100 to discuss.

Download our free Risk Management Checklist here: Risk Checklist