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Profit growth opportunities in focus at forum

Recent key developments in the Australian economy and their implications for South Australia’s grains industry will be discussed at a farm business forum in Adelaide.

Leading the discussions at the Grains Research and Development Corporation (GRDC) Farm Business Update on September 12, 2017 will be independent economist Saul Eslake, who is also a company director and Vice-Chancellor’s Fellow at the University of Tasmania.

Mr Eslake, a former chief economist at ANZ Bank and Bank of America-Merrill Lynch Australia, will address the impact of and opportunities arising from key economic issues, including the latest agricultural forecasts, interest rates, currency, housing, household debt and infrastructure spending.

GRDC Senior Regional Manager – South, Craig Ruchs, says the Adelaide Farm Business Update is an important annual forum to create awareness and increase knowledge relating to farm business management issues.

“The ability of farmers to make informed business decisions, supported by qualified and skilled advisers, is recognised as being fundamental to overall farm profitability,” Mr Ruchs said.

Other speakers at the Farm Business Update include Ben Craw, a lead partner in PwC Australia’s Food and Agribusiness Advisory division, who will detail strategies to align capital investors and farm business operators.

Jason Oster from Knight Frank will explore the topic of land values, while Tony Craddock from Rural Directions will delve into how the “top 20 percent” farm operators achieve their results through effective management of four key profit drivers.

The financial and practical implications of using precision agriculture will be explained by Mike Krause from P2P Agri Pty Ltd, and Chris Heinjus from Rural Directions will provide an update on the Personal Property Security Register and multi-peril crop insurance – two risk management tools available to mitigate against adverse outcomes due to unexpected events.

Pru Cook from BCG will outline how to use social media to build a market profile, develop business connections and monitor market trends, while Dennis Hoiberg from Lessons Learnt Consulting will look at how influencing attitudes can lead to positive change.

Closing keynote speaker will be quadriplegic farmer Sam Bailey, who with his wife Jenny operates a beef cattle property at Croppa Creek in north west New South Wales.

Mr Bailey became a quadriplegic in a car accident when he was aged 19 but despite his physical limitations has successfully pursued his farming and personal ambitions and is now working towards his next big goal – to become the first quadriplegic in the world to fly a helicopter.

The GRDC Farm Business Update will be at the Adelaide Convention Centre from 9am to 4pm, with catering provided.

Source: GRDC

Image: Craig Ruchs. Image provided by the GRDC