Australia’s regional areas will benefit from a new quarterly agribusiness report to be produced by Charles Sturt University (CSU) and Westpac, one of Australia’s leading agribusiness banks.

 

CSU Vice-Chancellor Professor Ian Goulter and Westpac’s Regional Manager for inland NSW, Rick Aylett will make the announcement in Albury on Thursday 7 December. CSU’s Western Research Institute will produce the reports for Westpac on the health of agribusinesses across all Australia’s States and territories.

 

The Western Research Institute (WRI), based on CSU’s Bathurst Campus, will gather data from telephone and fax interviews to develop a snapshot of agricultural and associated businesses.

 

“WRI has a wealth of experience in conducting surveys and providing clients with relevant and timely data,” said Institute director, Tom Murphy.

 

“The national Westpac survey, which builds on the current business survey we developed for regional NSW, will assess sales, profitability, operating costs, employment, tax incentives and assistance and capital expenditure and inventory and a broader economic outlook for a representative group of agribusinesses.

 

“The process will include over 1 200 surveys, to be conducted with agricultural producers, processors and suppliers across Australia, based in Australia’s 48 statistical regions.”

 

Since 1999, WRI has been conducting business surveys for such diverse clients as Country Energy, Broken Hill City Council, Australian Pork Limited, Reliance Credit Union, Forbes Shire Council, the Australian Vee Eight Supercar Company and the Central Western and Orana Regional Development Boards.

 

Mr Aylett said Westpac was committed to the future of agribusiness in Australia and this new survey will allow the bank to broaden its insight into products and services its customers need to build a successful business.

 

“Adverse weather conditions are placing many farmers in tough situations so it is crucial that we are in touch with how we can best support our customers and understand how the drought is impacting on their local area,” he said.

 

The announcement will be made during a Business and Community Reception to be hosted by CSU Vice-Chancellor Professor Ian Goulter. The reception will start at 5pm on Thursday 7 December, in the Gordon Beavan Building, Thurgoona site on the University’s Albury-Wodonga Campus.