Australian agricultural businesses are facing a number of challenges in 2016. With drought conditions continuing, it is important that owners are aware of the support systems available to them.
In an attempt to stave of insolvency, many are turning to new ways of improving the fertility of their soil and thus increasing their commercial survivability.
From dispute resolution to advice on insolvency, a lawyer can help agribusinesses survive in Australia's volatile market.
Soil, solvency and increased fertility
Agriculture is one of the oldest activities humans engage in. Ever since the cultivation of crops in the fertile crescent, human groups have used agriculture as the basis for strong economies and human prosperity.
Australia's tradition as an agricultural nation has been given a boost recently with figures showing more Australians than ever are applying soil enhancers to their farms.
A report from the Australian Bureau of Statistics (ABS) shows the volume of agribusinesses using lime, dolomite and other soiled enhancers to improve the quality of soil has increased by nearly 20 per cent. ABS Director of Rural Environment and Agricultural Statistics Lauren Binns said it was important that businesses continue to implement practices that improve soil condition, while maintaining natural resources.
"There were notable increases in the application of products such as dolomite and lime, which are used in the management of acidic soils and to maintain optimum soil pH," said Ms Binns.
In 2014-15, the ABS estimates that 3 million tonnes of lime were utilised for around 2.3 million hectares of land, throughout Australia.
With an increasing need to improve and maintain the condition of soil, it is heartening to see these practices continue to grow. Alongside agricultural techniques, there are a number of support services available to Australian farmers.
How can a lawyer help?
As Australia's drought continues, it is important that Far North agribusinesses access the schemes put in place by state governments. In the Far North, the Queensland government has a number of ongoing initiatives.
For instance, drought-affected farmers can apply for either a Drought Concessional Loan or a Drought Recovery Concessional Loan. Both of these application windows have been extended to 31 October 2016 and are available to assist state farming businesses that have experienced severe conditions.
With the government throwing its weight behind services, injecting around $40 million into the provision of Drought Concessional Loans alone, it is important to know how to access them. A commercial lawyer from Cairns can help you review your application to ensure it meets the requirements.
If you would like more information, make sure you talk to the experts at Williams Graham Carman today.