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.

Read more 

END

 

News & Alerts

BOP Rural Connect - Getting through Drought & Covid-19 - Issue #11

Saturday, August 15, 2020

Author: JodieCraig
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Categories: National, Bay of Plenty

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BOP Rural Connect - Getting through Drought & Covid-19 - Issue #10

Friday, July 17, 2020

Author: JodieCraig
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Number of views (223)
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Categories: National, Bay of Plenty

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BOP Rural Connect - Getting through Drought & Covid-19 - Issue #9

Thursday, July 2, 2020

Author: JodieCraig
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Categories: National, Bay of Plenty

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https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.newshub.co.nz%2Fhome%2Frural%2F2020%2F04%2Fopinion-keeping-safe-in-rural-covid-19-lockdown.html%3Ffbclid%3DIwAR1AciZt0mZds7t-Go8y_ceRBIZsA2Jr6x4RyLgBDb

Opinion: Keeping safe in rural COVID-19 lockdown

Friday, June 26, 2020

Author: WendyHurst
 
Working in a farming 'bubble' means extra vigilance against crime, said Miles Anderson
Working in a farming 'bubble' means extra vigilance against crime, said Miles Anderson Photo credit: Supplied

By Miles Anderson.

OPINION: Rural New Zealand can be a pretty quiet place at the best of times and for the next four weeks it will be even more so. Every community relies on its people to help each other and rural ones more than most. As a rule, we usually know what our neighbours are up to, the regular vehicles on our roads and help to keep an eye on things as we are going about our day-to-day business.  

The Covid-19 lock-down could change all of that. We will mostly be working alone to maintain our 'bubble'. No school runs or trips to town for sport, instead just once a fortnight trip for groceries and only the odd stock truck or tanker coming down the road. Many remote properties have set themselves up so they won't go out at all for the lock-down.  

Farming businesses are reduced to essential tasks and many are running a skeleton crew and reduced work programme. The usual farm visitors who help to keep an eye out are also absent - no one doing firewood, no roar hunters or duck shooters setting up for the season. This means even fewer people out and about than normal and some real opportunities for mischief. With longer nights and no one around, conditions are prime for those unique rural crimes - stock rustling, vehicle and fuel theft and poaching. 

 

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Categories: South Canterbury

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Donations

We are a voluntary Charitable Trust and would welcome your donation to help us continue supporting our Rural Families.

You can make a donation to Waikato-Hauraki-Coromandel Rural Support Trust in the following way:

Bank Transfer:
ANZ Bank 06-0317-0805560-01, ref: Donation

Please email us for a receipt.