Myself and my fiance are starting out in the Agriculture Industry and wanting to know if any one can offer advice from their journey. From starting out shepherding to entering farm management to the ultimate goal of owning a farm. Obviously being young we do not have much equity behind us but determined to reach our goal of owning a farm one day!
So in summary
- Any methods of building equity would be greatly appreciated
- What options have you come across into entering farm ownership i.e. equity partnership, how do these work ? and other alternatives.
Thanks @racheljoblin . It has come to light that as a couple we need to get out in the community and make the most of each opportunity that comes our way. Education plays a huge role in this also, I have completed a Massey Diploma in Agriculture but still wanting to develop my knowledge further- there are a great number of seminars and courses running in our area and we need to utilize these.
@Frankie Building equity and networks are important, and so too is building your skill set both formally and informally. Primary ITO offer a pathway of courses - right through to their Agribusiness Diploma. Equity partnerships are about bringing together business partners with compatible goals, as an equity manager it is less about the amount of equity that you bring but more about the personal characteristics, skills and experience, and your track record and goals.
@becgreaves thanks for your help. Will definitely take this on board, its great to meet new people in the industry we have such a huge range of knowledge out there. For us as young farmers this knowledge is so valuable. We will look out for leasing opportunities in the future :)
Make the most of the contacts you have and network - go to industry events and field days etc, you never know what you will learn or who you might meet. Leasing is a great way to build equity in stock, even if it's only a small lease initially, they all add up and that will help you to be in a position to take advantage of a bigger opportunity when it comes along. Good luck!