Agribusiness Summit- Henry Holcombe and Rohan Dunsdon
On Friday 10th March, the second day of the Macintyre Ag Agribusiness Summit, Sprout Ag and Bentleys made presentations to the audience on many different but important topics influencing agriculture. Sprout Ag is a finance and business advisory company based across eastern Australia and provides lending and advisory services to agricultural businesses, their presentation was headed up by Goondiwindi local Henry Holcombe. The second presentation for the day was from Rohan Dunsdon, a Partner of Bentleys based in Brisbane, Queensland. The accounting firm’s first message included tips on the necessary information needed today to accurately calculate current and projected outlooks for your business. The end of their presentation reviewed some key information and steps on soil carbon projects which is a rapidly emerging industry with agriculture in the box seat.
Sprout Ag commenced the conversation by outlining how important it is to us as produces that we understand how our finances are managed. Interest rates started to rise again through the 2nd half of 2022. An increase of borrowings across the sector was seen in comparison to previous years and the rising interest rates are starting to cut into margins and lending will become more difficult in the months to come. Increased land values intern improved average equity ratios the has supported increased lending. A key take home message from Sprout ag was that you should be regularly checking that you’re not being hit with a loyalty tax from your financiers and rates should be reviewed regularly to check for competitiveness.
Second up was Rohan Dunsdon, Bentleys is a well-regarded accounting / advisory firm in the agricultural space with many clients in the Macintyre Ag catchment. Rohan outlined the importance of projected budgeting and having budgets set up in a way the allows you to stress test your business. By being able to manipulate input costs such as feed, fuel, fertiliser and finances you can test how your business will perform through different scenarios. This is a very powerful planning tool that’s importance was well received by the audience at the summit. The second part of Rohan’s presentation discussed the emergence of carbon accounting. A new term that inevitably landholders and agribusinesses are going to have to engage with soon if not already.
In Summary, the two presentations provided the audience with relevant information that was delivered in a manner that was well understood and received. Their presentations outlined how important their services are. They provide to the ag sector with the tools and advice necessary to run continually profitable and sustainable primary production businesses.
This event was proudly supported by ARTC Inland Rail, B&W Rural, Growth Agriculture, NAB, Southern Queensland Landscapes, Highways and Byways, ANZ, and received funding from the Australian Government National Landcare Program.
