Farming only game in town — and finance is available, says consultant

A leading figure in agricultural consultancy, Michael Brady (Brady Group Agricultural Consultants and Land Agents), has said that bank finance is available to farmers who require it.

“In spite of rumours to the contrary, I believe bank finance is available to farmers. Because, put simply, farming is really the only game in town.”

Brady was speaking at a well attended farming seminar entitled, ‘Your farm, your business,’ which was held in the Carrigaline Court Hotel on Oct 19.

“I regularly get calls from guys who say their bank manager won’t give them a loan. And I ask, how did you present yourself to the bank? Was it a case of an overdraft being up to the limit and you saying ‘I need a stocking loan to see me through until I sell a few cattle in a couple of weeks time’? That’s not good enough anymore. You need to present your case properly. Before going to the bank get your figures correct and sell yourself to the bank. Tell them how good your farm business is. They want to know this and will lend the money.”

And while on the subject of expanding in farming, Brady warned farmers not to go it alone. He spoke on the value of having a good team supporting you.

“To me, farmers get up early and work very hard and sometimes don’t meet a whole lot of people during the day. Then they make big decisions, about purchasing the farm next door or renting land. A farmer should not make those types of decisions alone. Your farm adviser, your accountant, your solicitor has probably dealt with the same situation a hundred time before.

“You should pick up the phone and talk to them, ask for their advice. Let them know where you want to go with your business. Tell them of your goals your aspirations. Because for me, I believe that a team working together is a lot stronger that the sum of all the parts.”

At the seminar on Your Farm, Your Business, Michael Brady was among a group of four speakers which included Minister for Agriculture Simon Coveney, taxation expert Michael Mullins (Moore Stephens Nathan) and solicitor Ronan Enright (Michael Enright and Co Solicitors).

The meeting was free to all in the farming community and was focused on success in farming from a legal, financial and taxation point of view. It was chaired by Pat Lehane of the IFA.

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