Teagasc talking money

SOME farmers have suffered severe equity shock in the last 24 months, due to off-farm investments made in better times, according to Teagasc.

Some of these investments were heavily leveraged — funded by borrowings — and are now worth a fraction of the initial cost, leaving these farmers in a poorer equity position.

Under-pressure farmers who will need ongoing support and advice in dealing with their financial institutions and other creditors will be identified by a financial planning service offered to all of Teagasc’s 42,000 farmer clients over the next seven weeks, in conjunction with Single Farm Payment application assistance.