13 Nov 2013

Farm sector confidence rising - surveys

2:27 pm on 13 November 2013

New surveys released this week have reinforced the view among primary industry businesses that things are looking up for them.

They include the latest monitoring results from the business management software provider, M-Y-O-B which has surveyed small and medium scale businesses in the agriculture, forestry and fishing sectors.

Scott Gardiner looks after M-Y-O-B's small business division and says they're looking forward to some relief after a tough year.

But Mr Gardiner says the key pressures for those rural businesses are still the likes of fuel costs, exchange rates and interest rates.

Another survey of agribusinesses by the biggest rural lender the ANZ bank, shows more than 80% are expecting growth in their businesses in the next year. That is up from 72% last year.

And almost 80% of farmers surveyed are looking to increase farm production to improve their finances.

One in five is considering acquiring more farm land; 11% are looking at equity partnerships or joint ventures; and 7% at buying farm businesses or assets