NSW Farmers, NAB Agribusiness team up to boost farmers’ financial skills

An agreement just forged between National Australia Bank (NAB) and Australia’s largest state farming organisation will give Association members access to financial skills initiatives and educational workshops to help improve their farm businesses.

The new partnership will mean members can stay informed on critical financial subjects and will get the opportunity to hear from some of the country’s leading financial experts, says NSW Farmers’ CEO Pete Arkle.

“Farmers and other agricultural specialists in NSW must have solid financial skills if our sector is to reach its goal of becoming a $30 billion industry by 2030,” stresses Arkle.

“Farmers in NSW are overwhelmingly small business owners and good financial planning is key to their ongoing success so that they can prepare and survive the tough years and invest well in the good years.

“It’s pleasing to see NAB investing in our members and showing a genuine interest in the financial success of their farming businesses,” Arkle says.

NAB’s Business Bank Executive, NSW Regional and Agribusiness, Khan Horne says the organisation that has been the voice of farmers in NSW for more than 100 years is a fitting match for NAB.

“As the largest lender to agribusiness, NAB understands the agricultural industry is a fundamental part of the New South Wales economy and we are excited by this partnership,” Horne says.

“NSW farmers have proven to be exceptionally resilient through two years of challenging conditions. While strong fundamentals have certainly supported the sector, it’s the long-term planning and strategic business management displayed by many farmers that has set them up well to now capitalise on improved conditions.

“We look forward to providing insights and building capability with NSW Farmers to help grow the agriculture industry in this state.”

Right now, NSW Farmers and NAB are developing the first of seven regional financial skills workshops, to be rolled out across the state over the next 12 months.

For more information, contact Kathleen Curry at NSW Farmers on 0429 011 690 or curryk@nswfarmers.org.au.

Source: NSW Farmers media release, 27 October 2020