Financial Pressure

Feeling the pinch?

Finance plays an essential role in every business, including the food and fibre sector. Related to this are matters such as debt management, tax management and business structures.

Usually you can see a way ahead when 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.

Below is information about some assistance we may be able to help you tap into.

Farm Debt Mediation Scheme and Hardship Fund 

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

Under the Farm Debt Mediation Act 2019, secured creditors must offer mediation before taking any debt enforcement action against farmers or eligible primary production businesses. 

The scheme uses neutral and independent mediators to help farmers and their creditors work through debt issues. The aim is to provide a negotiation process that is:

  • Structured
  • Confidential
  • Impartial

This will help farmers and creditors agree on how to proceed. MPI administers, promotes and monitors the scheme. The Mediation Hardship Fund helps farmers who want to use the Farm Debt Mediation Scheme but can't afford the cost.  Farmers in extreme hardship can apply to have their mediation paid for by MPI.  You can find more information on the Farm Debt Mediation Scheme and Mediation Hardship Fund on their website.


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

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The announcement late last week of the expected drop in milk payout was disappointing news for dairy farmers already busy with calving and now adding reviewing budgets to the long list of things...
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Rural Support you can trust when under stress

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Changes in physical appearance, changes in mood or changes in behaviour are key signs the Rural Support Trust says to look out for if someone is under stress.  “Watch out for signs...
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Cyclone Gabrielle Recovery - advice, support, and funding from MPI

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