THE ABILITY to gauge whether an investment is worthy or a tad rash has never been more critical, with record cattle prices boosting cash flow and government incentives aimed at turbocharging bush spending.
The advice from all is first and foremost create a plan – whether that be a strategic business plan or just a capital investment plan.
Agribusiness consultant with Pinion Advisory in South Australia Royce Pitchford said the key was not to jump the gun on things here and now, when there were longer-term business needs to be considered.
“A plan will naturally flow into a priority order and give structure as to how things will be replaced,” he said.
“The next step is to do the numbers, whatever the planned investment might be,” he said.