Profit-making scheme

Farming. The state government has opened the pilot $10 million AgriGrowth Loan Scheme to help turn great ideas into long-term profit making enterprises.

Under the scheme, farm and agri-food businesses will be able to borrow between $30,000 and $1 million for projects where there is a long lead in time until it delivers an income.

Minister for Primary Industries and Water Jeremy Rockliff said the initiative is all about turning great ideas into long-term profit-making enterprises.

“Farmers know only too well that while a new crop may be profitable in five or six years, it can be difficult to justify diversifying or growing a business if there is a significant gap between the initial outlay and income being generated,” he said.

“This loan scheme will help tackle that problem.”

The scheme is open to producers involved in agriculture, fruit, wine and horticulture, aquaculture and apiculture, for agri-tourism, as well as down-stream value-adding businesses.

Aligned to the loan scheme, the state government is also supporting Rural Business Tasmania to pilot an agri-business planning program aimed at those operators who have solid ideas but are not sure how to take the next step.

Case studies, coaching and practical tools in areas such as managing seasonal conditions, will take the stress out of business planning, saving participants valuable time in taking their idea to the next stage.

Applications for the AgriGrowth Loan Scheme will remain open for a period of up to 12 months. For more information visit www.stategrowth.tas.gov.au.

Information on the Agribusiness Planning Program is available from the Rural Business Tasmania website, www.ruralbusinesstasmania.org.au.

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