The drought in eastern Australia
, and even in parts of the west, is devastating farming communities around the country. Even the just-announced federal government’s cash gift of $12,000
for farming families is unlikely to do much to keep some farms operating, because without rain
, crops will not flourish, stock won’t be fed and operating costs will continue to spiral out of control.
While most sympathetic souls don’t like to see vision of cattle dying and orphaned lambs, and will therefore generally support drought assistance as an immediate issue, the issue of preparing for increasingly dry seasons remains. Climate change isn’t going away
. It’s getting worse
. For farmers, that means a rethink of your farming strategy - and maybe investing in some innovation
But while this is a story about farming, aspects of the story can be seen in almost every sector, not just because of climate change, but because new technologies, behaviours and global competition is increasingly making traditional businesses experience ‘dry seasons’.
If your business is facing a potential economic drought, maybe you should be preparing now. Because, like climate change, these factors affecting profitability are not going away. And if you’re going to survive the coming waves of disruption
, then it might just be time to store up some means of staying in business.