Queensland’s economy is supported by a diverse range of industries, meaning the state’s business owners have plenty of opportunities to make a living.
The agribusiness industry in particular is showing signs of significant growth. With its positive effect on the country’s export market, it’s likely to be a continuing source of employment for the involved businesses.
These companies also have a number of requirements that can be supported by legal services, with rural property acquisitions and employment issues demanding specialised attention.
Deloitte’s 2015 edition of the Agribusiness Bulletin found that companies in the industry have plenty to be excited about, with forecasts pointing to a positive end to the year for business owners.
One of the main reasons for this celebration is the rising value of industry exports. The firm reported that agribusiness exports will likely total $40 million across Australia for the year. Asia is expected to be the most common destination for these products, with Deloitte stating that the nation will be responsible for 71 per cent of the world’s growth in food demand.
The Agribusiness Bulletin also noted the areas which will see the highest degree of growth in the export market. These included wheat, sugar, canola and dairy, which will see increases of 12, 11, 10 and 8 per cent respectively.
Deloitte also investigated the impact of lower interest rates on the market. This is expected to provide a fertile environment for investment, hopefully promoting increased spending on rural property and farming machinery.
Agribusiness owners who are new to the industry need to be aware of its unique features. Along with the intricacies of the rural property market, many councils will have their own regulations and by-laws that farmers will need to abide by.
If this is your first foray into the world of agribusiness, consult the experts at Williams Graham Carman for the best chance of success.