Why use equipment finance?
Every farmer will tell you that owning the right farm machinery and equipment is key to keeping a farm productive and therefore profitable in both the near and longer term.
Technology has transformed agriculture and brought huge improvements in efficiency and productivity. It has also made farming a much more capital-intensive industry and sizeable investments are required to keep the equipment and machinery stable up to date and functioning well. Over 55% of Australian farms had net additions to their farming equipment in the 2018 financial year according to the ABARES Australian Agricultural and Grazing Industries Survey. In fact, spending on farm equipment and infrastructure has grown by 2.8% per year for the past 20 years.
The list of machinery and equipment necessary to run a farm is extensive and includes:
- Tractors
- Combines
- Ploughs
- Trailers
- Harvesters
- Generators
- Conveyor belts
- Grain carts
- Seeders
- Fertilizer sprayers
- Bale feeders
- Cattle guards
- Cattle crushers
- Livestock feeders
- Milking equipment
- And more depending on the type of agriculture you practice.
