Peter’s journey with RFCS NSW began over 30 years ago and has played an important role in his farm’s ongoing success, through the ups and downs of running a mixed operation family farm. 

14 years ago, Peter and his family were faced with the challenging conversation of “succession planning”, a phrase that can bring tension, difficult conversations and fears of disrupting family relationships.

Peter was connected with his local Rural Financial Counsellor to discuss succession planning for the family. This process also involved his parents, brother and two sisters who were no longer living on the farm.

With growing tension between the two brothers about the future of the family farm, the situation required careful management. The Rural Financial Counsellor worked closely with the brothers and their parents to develop a plan that would allow Peter to manage two properties, while his brother took responsibility for two other properties as well as a plan to pay out inheritance to his two off- farm sisters.

The outcome was a “win- win” for both brothers, allowing them to farm independently and on their own terms, while also improving their relationship. The RFC spent time with each family member, visiting the properties and helping resolve any concerns. The result was a positive experience that provided clarity and long-term solutions for the family. The parents also had a plan for their retirement which gave them comfort and relief that there was a succession plan in place that their children were all agreeable with.   

“Having a Rural Financial Counsellor there was a relief. His positivity and knowledge was crucial in helping us get through the difficult parts. It was great to have someone outside the family, with the right expertise, to guide us through the process,” says Peter.

Peter encourages other farmers facing similar challenges to take the step and reach out to RFCS NSW.

“If you're struggling with family friction and succession planning, I’d say go for it and reach out to RFCS NSW. Having someone who can provide support with the right expertise is invaluable.”

Thanks to careful planning, communication, and the knowledge provided by RFCS NSW, the future of Peter’s farm is secure and ready for his son and future generations to come.

As 2025 comes to a close, it’s a timely opportunity to reflect on the challenges, progress and lessons experienced by farming communities across NSW. Throughout the year, RFCS NSW continued to walk alongside farmers, offering free, professional and confidential support, information and guidance.

This year in review revisits the key themes explored in our 2025 articles, conversations focused on financial awareness, planning ahead and building confidence to make informed decisions.

Financial health checks

Early in the year, we spoke about the value of stepping back to understand the full financial picture of a farm business. Our February financial health check article encouraged reflection on income, expenses, debt and cash flow, and how these align with both short- and long-term goals.

Key discussion points included:

• reviewing financial information and understanding current position

keeping business plans relevant and up to date

• setting realistic personal and business goals
• monitoring finances regularly to support timely decisions.

A strong message throughout was that farmers don’t need to work through these considerations alone. Rural Financial Counsellors are available to provide objective support and help farmers explore their options.

Planning ahead: tax time 2025

Building on this theme, RFCS NSW shared insights around early tax planning. The focus was on being prepared, keeping records organised, reviewing finances ahead of end of the financial year and reducing last-minute pressure.

Early preparation can ease stress, support clearer decision-making and help farmers feel more confident when speaking with accountants and advisors.

Taking control: managing debt

Managing debt was an important topic in 2025, particularly as rising costs and variable conditions continued to impact farm businesses. Mid-year discussions explored understanding loan structures, recognising true borrowing costs, engaging with lenders early and aligning repayments with business cycles.

The consistent message was that proactive communication and good information can help farmers feel more in control of their situation.

Supporting the next generation

One of the standout themes of 2025 was the increasing involvement of younger people in agriculture. We explored the value of including younger family members in financial conversations, business planning and succession discussions to support long-term viability.

Making professional appointments count

In June, RFCS NSW shared guidance on getting more value from meetings with accountants and financial professionals. Topics included knowing what information to bring, asking the right questions and maintaining regular reviews to stay informed year-round.

Negotiating with creditors and lenders

Later in the year, we discussed practical considerations when negotiating with creditors and lenders. Preparation, clear communication, accurate financial information and confirming arrangements in writing were recurring themes.

Accessing support and assistance

As the year wrapped up, RFCS NSW highlighted the importance of staying informed about available support options, including government assistance, concessional loans and disaster relief. Awareness of these options can provide reassurance and stability during challenging times.

Looking ahead at 2026

The key takeaways from 2025 are that preparation, communication and support matter. Farmers across Central and Southern NSW continued to demonstrate resilience and adaptability in the face of ongoing challenges.

As we move into 2026, RFCS NSW remains committed to providing trusted, confidential and practical support to help farmers make informed decisions for their businesses, families and futures.

Here’s to a strong year ahead.

In the business of farming, risk is a constant. Whether you realise it or not, you are making decisions every day that involve risk  and you are already applying risk management strategies in the process.

Risk simply refers to areas of your business where the outcome is uncertain. Many people automatically associate risk with something negative. However risk itself is neutral. It can result in either negative or positive outcomes for your business. The key lies in how you understand, prepare for, and manage it.

While every farm is different, there are several common risk categories that affect most agricultural enterprises:

1. Production/ yield risk

This is the risk that production levels may be lower than expected. Causes may include:

• extreme weather events such as drought, frost, or excessive rainfall
• climate variability and seasonal change
• weeds, pests, and disease

machinery and equipment failure.

Because farming relies heavily on natural systems, production risk is one of the most significant challenges producers face.

2. Personal and operational risk

Farming is not just a business,  it is often a family operation. Personal and operational risks include:

• Injury or illness
• changes in family relationships
• human error when operating machinery
• workplace incidents that disrupt daily operations.

These risks can have both emotional and financial impacts on the business.

3. Price/ market risk

Even when production is strong, profitability is not guaranteed. Market risks include:

• Losing access to markets
• commodity price fluctuations
• not achieving the expected sale price
• changes in buyer demand or supply chains.

Global events, exchange rates, and economic conditions can all influence market outcomes.

4. Financial and legal risk

Financial pressure is often the result of other risk factors. These risks include:

• Insufficient cash flow to meet loan repayments or operating costs
• increased input costs (fuel, fertiliser, feed)
• rising interest rates
• changing exchange rates
• excessive borrowing
• higher family living expenses.

Legal risk may arise from failing to meet contractual obligations or compliance requirements.

5. Succession planning

Succession is one of the most significant  and sometimes overlooked  risks in farming businesses. Without clear planning:

• Family conflict can arise
• business continuity may be threatened
• financial stability can be compromised.

Proactive succession planning protects both the family and the business into the future.

Managing risk effectively

Effective risk management does not eliminate uncertainty, but it helps you:

• Identify potential risks early
• assess their likely impact
• put strategies in place to reduce exposure
• build resilience into your business

Diversification, insurance, forward contracts, cash flow planning, safety protocols, and succession planning are all practical risk management tools.

At Rural Financial Counselling Service NSW, we work with farmers to help identify risks and develop strategies to strengthen business resilience. Understanding your risks is about making informed decisions that support long-term sustainability.

To get in touch with your local Rural Financial Counsellor for confidential, independent support in reviewing your farm business risks, call 1800 319 458.

Dealing with creditors and lenders can feel overwhelming especially when you’re facing cash flow pressures, natural disasters, market downturns, or any other form of financial hardship. In these situations, negotiating payment terms or restructuring loans is often essential to ensure debts can be managed in a sustainable way.

The good news is that many creditors and lenders are willing to work with you, if you approach them early and with a clear plan.

Steps to Take When Negotiating

1. Act early
   Don’t wait until you’ve defaulted on payments. As soon as you know you may struggle to meet your obligations, contact your creditors or lenders. Early communication shows responsibility and increases the likelihood of a positive outcome.
2. Be honest
   Explain your financial situation openly, including the challenges you’re experiencing. Transparency helps build trust and demonstrates that you are seeking solutions, not avoiding the problem.
3. Prepare information
   Before you start discussions, gather up-to-date records of your income, expenses, and debts. Having accurate financial details will make negotiations more productive and show that you’re well-prepared.
4. Propose solutions
   Go into discussions with practical ideas, such as adjusted payment plans or extended timelines based on your cash flow. Offering realistic options can make it easier for lenders to say yes.
5. Get it in writing
   Once new arrangements are agreed upon, always request written confirmation. This protects you from misunderstandings and ensures everyone is on the same page.

At RFCS NSW, we understand how stressful financial challenges can be. Our professional, confidential, and free financial counselling services are here to help. Get in touch with your local rural financial counsellor to discuss your individual options and take the next steps toward financial stability.