28 November 2008

Ensuring farmers take timeout to work on their businesses and are well-equipped with business management skills, not just production skills, was at the forefront of a recent Business Skills Day in Traralgon, Victoria.

Hosted by specialist agribusiness lender, Rabobank’s Leongatha and Sale branches, the Business Skills Day drew on the expertise and experience of several key speakers who explained to more than 40 farmers that in the current climate there is a need for them to be business managers aswell as farmers.

“The day was aimed at helping farmers to think beyond the day to day and focus on achieving their maximum long term potential” Rabobank rural manager Sale Tony Anderson said.

Presenters on the day included Birch Ross & Barlow Director, Suryan Chandrasegaran, Rabo Financial Advisors Operations Manager, Mark Gledhill, HSR Seeds Global Marketing Director, John Auer, Lonsec Senior Equity Strategist, William Keenan, Local Merino farmer and Rabobank Executive Development Program (EDP) graduate, Shaun Beasley, and Rabobank Business Programs Manager, Kate Steel.

Farmers were taken through four key business structures suited to agriculture, particularly the importance of choosing the right one in the current financial climate.

The global economic meltdown was also top of mind for farmers in the audience. Senior Lonsec Equity Strategist, William Keenan’s presentation Market outlook: Bulls, Bears and Birds, explained the current state of play for farmers.

“The global financial crisis marks the end of a 15 year credit bubble which had led to inflated asset prices, properties, stocks and commodities,” Mr Keenan said.

“The developed world, representing 65 per cent of the global economy, is now going through a deleveraging cycle. We’re reducing spending, debt and increasing savings and equity capital.

“Growth in the developing world, representing 35 per cent of the global economy, has been harshly affected as many countries are reliant on exports and foreign capital.”

“William Keenan’s presentation on the events leading up to the global financial crisis, its current impacts on both local and international markets, the banking sector and some possible projected outcomes, was well received by farmers. It provided them an understanding of the possible implications, post farm gate” Rabobank Branch Manager Leongatha Scott Price said.

The Rabobank Business Skills Day is an offspring of Rabobank’s Executive Development Program (EDP) – a business management program designed to further enhance the skills of Australasia’s leading agricultural producers – also providing farmers with an invaluable networking opportunity.

Rabobank Business Programs Manager, Kate Steel, said the Business Skills Day gave farmers the opportunity to learn business management skills and a chance to be in a room with like-minded farmers to share and learn from their experiences.

During her presentation Enhance your skills in running a successful farm business, Ms Steel said the key issues farmers face in the current climate are staffing and financial stability.

“Maintaining a sustainable and healthy business in the modern agricultural environment is important for Australian farmers to be able to make it through these challenging times,” she said.

Rabobank has hosted a number of Business Skills Days throughout rural Australia during 2008 and looks forward to continuing this commitment in the new year.

Rabobank Australia is a part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 110 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank has a AAA credit rating and is ranked one of the world’s safest banks by Global Finance magazine. The bank operates in 43 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1500 offices and branches. Rabobank Australia is one of Australia’s leading rural lenders and a significant provider of business and corporate banking and financial services to the Australian food and agribusiness sector. The bank has 50 locations throughout Australia.

Contact

For further information please contact Elise MacDonald, Public Relations Consultant
phone: +61 2 8115 4861
email: elise.macdonald@rabobank.com