n Farmer’s Weekly - Managing a farming business in financial distress : business




It is not uncommon for farmers to find themselves in financial distress at some point in their careers. Drought is not uncommon either, and the effect of this year's drought will be felt throughout the South African economy. It is expected that the number of companies filing for bankruptcy during the first quarter of this year will increase by 53% from 119 to 182, with most of these being in the agricultural sector.The question now is this: what should you do in such a situation to see your business through this difficult time? Should you let your business go bankrupt or are there other remedies?


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