Strategies for surviving a fall in wool income
1990
Stevens, M.G. (Western Australian Dept. of Agriculture, Geraldton)
Accept that some fall in net cashflow and farm profit is inevitable. Review budgets. Increases in crop area of greater than 10 per cent will usually not be warranted. New enterprises rarely help in these situations due to a lack of experience and the lag between costs and returns. Overhead costs should be cut before operating costs as a cut in some operating costs usually causes a loss in production. Stick to what is known best and try to do it more profitably
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