Put a Policy Around Machinery Purchases

Machinery in cropping enterprises can be up to 30 per cent of a business’s total asset value, land being the other main asset. Better machinery replacement decisions can be made through careful planning and can increase profitability and ensure capital is available for other investments such as land purchases or off-farm investment. Having a written replacement policy reduces the emotions involved and helps determine appropriate machinery purchases.

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• 3.51 mb GRDC_FS_FBM machinery purchase_HR (003)
• 235.14 kb GRDC_FS_FBM machinery purchase_LR (003)