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 What was the Taking Stock project?
Taking Stock concluded in June 2007. It was developed in 2004 under the Dairy Moving Forward initiative to address where the industry was heading following the 2002/03 drought. The project was designed to help Australia’s dairy farmers deal with periods of uncertainty by giving them the opportunity to review how their business was travelling and plan for the future. Taking Stock involved a one-on-one session with a trained adviser who reviewed the farm family's business and provided them with a plan for moving forward. These sessions were free and the range of industry trained advisers included company field staff, accountants, financial counsellors and farm consultants. What benefits did Taking Stock deliver? Taking Stock was delivered to more than 2,000 dairy farmers around Australia. Farmers had access to about 160 industry service providers who helped them identify the physical, financial and human issues that affected their business. The most common issues across the industry were: - Lower than average pasture production
- Finance and high debt servicing pressures
- Concerns around cash flow and profitability
- Succession planning or transition issues
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