Cashflow challenges growing on farms

Cashflow challenges are growing on farms as the cumulative effect of higher costs, tax bills, delayed payments and the drop in prices in certain sectors is coming home to roost,” according to IFA Farm Business Chairperson Rosemary McDonagh.

“Farmers need to assess their situation and seek advice and help early if they may come under financial pressure. We are in constant discussions with banks and credit unions in relation to farm finance and the advice is to get in contact with your bank or credit union as soon as possible, if there is a likelihood of a need for finance over the next number of months,” Ms McDonagh said.