Financial Pressure

Feeling the pinch?

Finance plays an essential role in every business, including farming, growing or agri-business. Related to this are matters such as debt management, tax management and business structures.

Usually you can see a way ahead and you are working with your accountant and bank.

But sometimes you feel financially stuck. You may want to discuss this with someone and we’re here to help.

Also, following is information about some assistance we may be able to help you tap into.

New fund to get advice for struggling farmers is now open

Joint statement by the National Council of Rural Support Trusts and New Zealand Bankers’ Association, 25 February 2020

A new initiative funded by banks and the government offering support for farmers struggling with farm debt is now up and running. 

The government has allocated $200,000 for the Farm Business Advice Support Fund, to be managed by Rural Support Trusts.

For a qualifying farmer the Fund will provide up to $6,000 to pay for financial or business advice from an independent consultant.

The National Council of Rural Support Trusts and New Zealand Bankers’ Association have recently signed the agreement for the Fund. Under the agreement, the RSTs will provide up to $3000, depending on an assessment of need, and the relevant bank will match that dollar for dollar.

RST National Council chair Neil Bateup says the fund is for a farmer who is feeling pressure. “This might be because there’s been some change or their bank has indicated they need to discuss their debt situation. The hope is that there may still be options available so that the wishes of all parties can form a solution for going forward.”

“There’s a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans,” says New Zealand Bankers’ Association chief executive Roger Beaumont. “This will inform conversations between the farmer and their bank.”

Rural Support Trusts will take an application from, or on behalf of, a farmer who might qualify for assistance.

The consultant will provide a report, which will be given to the farmer and their bank.

This initiative involves ASB, ANZ, BNZ, Heartland Bank, Rabobank, SBS Bank, TSB and Westpac. 

Farm Debt Mediation Scheme and Hardship Fund – from 1 July 2020

The Farm Debt Mediation Act was passed into law on 13 December 2019, and the Scheme – with an associated hardship fund will become operational on 1 July 2020.

Check out some useful links and articles about dealing with financial pressure:

BrightSIDE - Oamaru 8th June 2022 (part of SIDE)

Want to see your staff progress? Want to move up in the industry and need some sound advice? Then BrightSIDE is for you!

6/8/2022 10:00 AM - 4:30 PM

BrightSIDE - 8th June 2022, Oamaru

Read more

SIDE South Island Dairy Event 2022

8th - 9th June 2022 - Oamaru - Theme: Dynamic

6/8/2022 - 6/9/2022

SIDE 8-9 Juine, Oamaru

Read more

Inland Revenue - Help for your business during the COVID19 Omicron outbreak

This fact sheet explains the help your business can get from the Government during the COVID19 Omicron outbreak

28 Feb 2022
Read more


Needing some financial direction in your business?

22 Nov 2021

Wanting some tips on surviving and growing in tough times and how best to communicate with your bank? Know a young farmer starting out?

Read more

The Farm Debt Mediation Scheme

13 Sep 2021

The Farm Debt Mediation Scheme is a service to help farmers facing financial problems. Find out more about the scheme, eligibility and how to apply.

Read more