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Setting up your agribusiness for long-term sustainability and success

Find out about some of the opportunities to consider to ensure your agribusiness is geared for success, both today and for future generations of New Zealand producers.

4 minute read

From unpredictable weather to evolving technology, the agricultural industry is no stranger to change. While change can bring uncertainty, it can also bring opportunity.

Dana Muir leads the BNZ Natural Capital team and explains how changes to the agricultural industry can be an opportunity for your business to develop. She shared her insights into the changes facing the New Zealand agribusiness sector, and some tools to consider for future success. 

Doing the right thing for your environment

Today, the demand for environmentally friendly, natural, and nutritious food is higher than ever.

Dana explains that keeping up with environmental regulations and ensuring sustainable management of on-farm natural resources should be a high priority for any agribusiness, now and in the future.

“We’re really impressed with the quality of environmental improvements and management our farmers have done to date,” says Dana. “But we also know there are some who are struggling to find the best way forward.”

First steps to agribusiness success

For Dana, the single most important thing is to get the clarity you need to make informed decisions about your land and agribusiness. This can ensure your agribusiness is operating efficiently, effectively, and compliantly. 

To help get that clarity, Dana recommends equipping yourself with a farm or land environment plan. “This should be viewed as a tool which can help farmers make future focussed decisions and can feed into their budgeting and forecasting. A farm or land environment plan is a great way to get clear on costs, efficiencies, and compliance.”

She also suggests talking to your BNZ agribusiness partner about your options. “We can help discuss your plans for budgeting and forecasting, which consider environmentally driven changes to your agribusiness, put you in touch with our networks, and offer a range of resources and information to support your decision making.”

Technology is poised to help the industry grow and improve

Dana says that in a recent BNZ survey of New Zealand producers, 64% said they anticipated using more technology in the future.* “We’re seeing an exciting new wave of agribusiness producers, who see continued investment in technology as a way to drive growth.”

Technological developments offer new ways to understand, measure, and significantly improve production and efficiency. “As the saying goes, if you can’t measure it, you can’t manage it. Agribusinesses should explore which tech is likely to have the biggest positive impact on their productivity and bottom line, and also best support their forecasting for future budgeting and planning. In this era of fast-paced technological change, be sure to invest in tools that will stand the test of time.”

Preparing for the road ahead

“When I meet New Zealand producers, they talk proudly about growing high quality food and they want to ensure future generations can do the same,” says Dana. 

That’s why it’s vital agribusinesses develop strategies for long-term sustainability and success. As for what that success looks like, for Dana and the Natural Capital team, it’s simple: “To us, it’s a farmer 50 years from now, telling you about the great work done by past generations,” she says. “Work that enabled them to keep providing for NZ and the world – both today and in the future.”

BNZ’s Natural Capital team is dedicated to supporting Kiwi farmers through the changing landscape of environmental management. Helping prepare agribusinesses for the future – whatever that future may bring.

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*Page 30, BNZ Report - Shift Happens: The Future of Agribusiness, 2018. The research from this publication was designed to provide a snapshot of sentiment around key areas of interest amongst BNZ agribusiness customers in the agriculture sector. The BNZ data collected is not representative of the NZ agricultural industry. As such, the results are intended to demonstrate understanding and stimulate related conversations. 

The information in this article is provided for general purposes only, and is a summary based on selective information which may not be complete for your purpose.  To the extent that any information or recommendations in this article constitute financial advice, they do not take into account your financial situation or goals and is not intended as personalised financial advice. While BNZ has made every effort to ensure that the information provided is accurate, you should not rely on this information to make any financial decision without first having sought advice specific to your circumstances from an authorised financial adviser. Neither BNZ nor any person involved in this article accepts any liability for any loss or damage whatsoever which may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this article.

Any views expressed in this article are the personal views of Dana Muir and do not necessarily represent the views of BNZ or its related entities.