PKF International
PKF Rutherfords Ltd
Accountants & business advisers- PKF Rutherfords Ltd, Palmerston North, New Zealand
Chartered Accountants & Business Advisers
New drought analysis shows this year is one of the most severe on record for parts of the country, and it's hit the primary sector hard.
The 2020 Drought Recovery Advice Fund is to help farmers recover from the 2020 drought, and plan for future droughts. It will pay for professional advice to a maximum of $5,000 (excluding GST). The fund is capped at $500,000 (excluding GST).

Fund information
The fund will be for selected applications in drought-affected regions.
Funding can be used for a range of advisory services and drought-related advice, like:
  • Strategic planning and the development of farm business plans.
  • Practical, on-the-ground advice and support like land management and sustainable management techniques.
  • Technical advice on soil and pastures, animal production, and feed budgeting.
Who is eligible for funding?
Farms that are located in one of the 2020 drought affected regions or districts (all of the North Island; the Chatham Islands, Christchurch, Marlborough, Nelson, Tasman, Selwyn, Kaikoura and Waimakariri districts and regions).
The business has been negatively affected by the 2020 drought.
50% of the farmer's income, in a normal year, is earned from this farming business.
The fund is open for applications between 11 May and 12 June 2020. Following the close of the fund, eligible applications that meet the criteria will be drawn until all funding has been committed. Successful applicants will be advised on 22 June 2020.

Applications are online, visit the Ministry of Primary Industries website here

Our Recommendation:

The good thing with this fund is that it is comprehensive and recognises that the drought has affected all of the North Island, however the fund seems woefully inadequate, and given the speed that they have been able to make funds available for COVID-19 support, waiting until 22 June to find out if you've been successful seems a long time to wait. So apply as soon as you can and that may put pressure on the government to increase it. Call us on (06) 350-7900 to talk about your farm position and business strategy.

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