Typically, Rural / Agricultural, otherwise known as Agribusinesses are typically generational businesses although a new and young breed of hospitality and tourism centred businesses also are growing rapidly. Most common issues faced are:
- Finding great farm labour
- Finding apprentices wanting to pursue a career in your industry
- Attracting skilled people to their region from other areas including the major cities
- Trade terms making cashflow tight to pay the rent/mortgage and the employees who are paid usually weekly, if not fortnightly.
- Large customers dictating unreasonable terms with the industrial supplier
- The owners are often the most technically qualified in the business, hence, an over reliance on the owner to be around or available, even if on holidays
- Communication
- Size of property either too large or too small for the current trade levels
- Re-investments in equipment is large
- Distance for labour and transport is costly. Accommodation needing to be catered for
- Typically old fashioned business skills which can be great, but, sometimes too old fashioned to attract the next generation
- Succession planning often considered through the kids coming through
- Competition with overseas suppliers
- Time management
- Lack of vision
- Fatigue
- Understanding when to get out
- Marketing knowledge tends to be very low
- Financial management skills are typically low
Well, I work with my clients on all of the above and if you are in that sector, it would be well worth your time to explore how I could help you.
