All types of farming have their challenges, but market garden accounting can literally be a tough row to hoe. Running a market gardening business requires some unique skills. The long hours combined with the physical demands of the job explains why many market gardeners fail to give accounting and tax issues the attention they require to keep their business moving.
Market gardeners can achieve high levels of income, however the grower must be prepared to continually challenge themselves to balance their risks by producing a product that meets consumer needs, achieving a good price at market and controlling production costs. Vegetable growing typically relies on high inputs of fertiliser and specialised machinery and plant, so careful management of finances are needed to fulfil the seasoned requirements.
Challenges of Operating a Market Garden
Ryan, Thomas & Co understands the challenges and operations of market garden accounting. Apart from the usual business compliance issues of GST, Income Tax, ACC, and Working for Families, we assist our clients with managing their cash flows and forecasting.
Having an accountant who understands the mechanics of the market garden industry can potentially give you the business edge. Market Gardeners tend to be very intuitive and opportunistic; however it is important that consideration is given to the long-term strategy of the business as well as the day-to-day operations. Ryan, Thomas & Co can provide a balanced perspective that will help you through the various strategic options you are faced with.
A reliable personal accountant can benefit your market gardening business in multiple ways. Over the years the team at Ryan, Thomas & Co have mentored market gardeners through the various stages of their business life cycle – from start up right through to sale. We bring experience, technical knowledge and most importantly, a rounded understanding of the industry to the table.