This is perhaps the simplest tip to businesses of all. Every now and then, send your bank manager a quick email regarding progress (or otherwise) on the farm. If actual versus budget data is available, send the bank a summary of this too.

Of course, they may have demanded it from you anyway, as part of their terms of lending.  In this case, you have little option but to send such information. If so, it is vital to do whatever you have agreed to.

An email doesn’t have to be very detailed, and it doesn’t have to cover everything, but keeping the bank in touch with major issues can help to foster good banking relationships. In these difficult times, your supplier of credit could be the most important supplier to your business.

Contact Charles at charlesholt@fcgagric.com or your local FCG office for further advice.