Farm Business Resilience Plan video transcript

The tutorial video explains why you need a Farm Business Resilience Plan.

A Farm Business Resilience Plan helps you identify and manage business risks such as drought.

It's your plan. It's about you and how you make key decisions about the risks to your business and their impact on your production, sustainability, natural resources and profitability.

In addition to being good business practice, a Farm Business Resilience Plan, or similar, will enable you to apply for the Queensland Government's new drought assistance schemes.

The Queensland Rural and Industry Development Authority (QRIDA) is delivering the new drought assistance schemes. You will be required to have a Farm Business Resilience Plan that identifies activities to improve drought resilience when applying for the new drought preparedness grants or loans.

The Department of Agriculture and Fisheries has developed a template along with guidelines and a checklist to help you get started.

You may already have an up to date business plan, or you can complete the template yourself. If you need help preparing your plan through our Farm Business Resilience program, you can attend a workshop or engage a professional person to provide advice tailored to your farm.

If you engage in eligible professional help you can apply through QRIDA for a 50% rebate of the cost up to $2,500.

Things to consider for your plan include your key business risks and how will you manage them, including how you prepare for, manage and recover from drought. Short, medium term goals and actions across the whole of your business. Consideration of your farm succession plan. And how you track progress and review your plan.

An up to date plan can also be used to support discussions with your financial institution, accountants and agricultural advisers.

For a rural business, creating a Farm Business Resilience Plan today can help make a big difference tomorrow.

The Farm Business Resilience Program is jointly funded by the Australian Government's Future Drought Fund and the Queensland Government's Drought and Climate Adaptation Program.

For more information, including a Farm Business Resilience Plan, templates and guidelines, go to daf.qld.gov.au/drought.

Watch the tutorial video.

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