A budget lets you maintain financial control and prevent money or resources being wasted.  Most accounting software packages can be used to draw up a budget for the year ahead. Actual-to-budget reports provide insights into areas of concern, while helping you plan for unexpected expenditure.

Few agribusinesses experience consistent cashflow throughout the year. A cashflow forecast will show cash peaks and valleys, letting you know when to take action to stabilise cashflow.

Not all expenditure is essential to the everyday running of your agribusiness. Travel, training, and conferences may seem like a good idea, but thought should be put into whether this expenditure is providing you value for money. 

Simply accepting a supplier or service provider’s price may be a timesaver. But it could be draining your cashflow. From renewing insurance cover to stocking up on consumables, taking the time to find a more competitive supplier can cut costs, and bolster cashflow. 

Short-term finance can seem like a quick fix. However, it typically comes with high rates and fees. Longer-term finance can be more cost effective. It’s always worth renegotiating the rate you pay and seeing if you can get a better deal. Consider consolidating multiple debts to streamline cashflow and the potential savings of a lower overall interest rate.