Study into future of family farms

ANZ and the University of Adelaide Business School have partnered to conduct a major study into the issues impacting the future of Australia's family-run farms.

The three-year research project focuses on succession planning for family farms, the development of options to ensure their sustainability and farmers' access to credit and appropriate financial management practices.

Grain and livestock producers from across Australia are invited to participate in the study, which is being run by PhD student Andrew Harrison under the supervision of Professor Ralf Zurbruegg, Head of Research at the University of Adelaide's Business School.

"This research will be the first real examination of both the constraints and opportunities family farms will be faced with in the future," Professor Zurbruegg said.

"ANZ's depth of expertise and networks in agribusiness will be invaluable to the success of this study."

ANZ Head of Agribusiness Development, John Redpath, said: "One of the most critical issues for the sustainability of the family farm today is its ability to fund the transfer from one generation to the next. We trust the findings of this research will help address some of these funding issues in this ever-changing credit environment."

The study will look at: the role of the farm's business structure in securing finance; prevalence and attitudes to risk management strategies employed by farmers; the role of banks in understanding and catering to farmers' financial needs; farmers' attitudes to business and financial risks; and financial institution involvement in, and understanding of, farming businesses at head office and branch level.

The outcomes of the study are expected to provide advice to farmers on how to manage succession planning, better access capital and increase awareness of good financial management practices that will lead to a long-term future for their business.

Australian grain and livestock producers interested in the study should contact Andrew Harrison from the University of Adelaide Business School on 08 8313 0749 or email: andrew.t.harrison@adelaide.edu.au or go to: www.anz.com/agribusiness