Better farm finance tops wishlist

All we want for Christmas is better farm finance: NSW Young Farmer Council


Opinion
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The NSW Young Farmer Council has delivered its Christmas wishlist with the message that's loud and clear: Our young farmers are keen to learn and want to have a go.

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This Christmas, the NSW Young Farmer Council is delivering our holiday wishlist to governments, and our message is clear: give us a hand in setting up new farming enterprises, and we’ll keep growing the profitability of agriculture in NSW.

There’s clearly an appetite amongst the young farmers of NSW to learn more about farm business, and to invest their own time, energy and finances into building businesses that are innovative, profitable and resilient.

The Department of Primary Industries Young Farmer Business Program has rolled out workshops across the state, engaging both new and established young producers. Through this program, NSW Farmers delivered a number of Bank Ready workshops that saw hundreds of enthusiastic young people learn the basics of working with financial institutions.

We need to harness this enthusiasm, but young farmers tell us that the barriers to starting your own business can be prohibitive. Governments can provide a leg up to young people looking to set off on their own by providing assistance, including low interest rate loans and farm succession planning advice.

NSW Farmers is also calling for our state government to develop a first farm buyer’s grant, removing stamp duty on the purchase of a first farm.

There is already a model for this in Victoria, and we want to see that replicated here. Stamp duty exemptions shouldn’t just be limited to young people living in urban areas.

Agriculture is critical to our state’s economy; NSW primary industries reached an estimated output of $17.5 billion in 2017-18. 

Our young farmers are keen to learn and want to have a go. We ask that governments support them in creating the farm businesses of the future.

- NSW Farmers Young Farmer Council Tim Carroll

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