What is agribusiness or farm finance?
Agribusiness is the business of earning revenue through agriculture, or, more simply, farming. Agribusiness-specialised financial institutions provide farmers with financial products, such as business loans, online banking access in rural areas, insurance and credit cards as well as some more specialised services.
These financial products are tailored to the sector, encompassing all farming and farming-related activities
Agriculture is a huge component of the Australian economy. As a result, supporting every link in the agriculture industry financially is important. That is where agribusiness finance providers come in.
The specialised nature of farming enterprises requires a banking approach that differs from standard retail. There aren’t as many financial institutions that offer services to farms, but the products available are specifically catered to the agricultural industry to help farmers financially.
We cover the main products and what they mean in the glossary of terms, and you can see what you should look for in a good agribusiness provider here.
How Canstar compares agribusiness providers
Agribusiness is a crucial part of the Australian way of life, and that is why Canstar researches and rates agribusiness banking solutions every year.
Canstar rates agribusiness institutions in Australia every 12 months with results released in May. We calculate these ratings based on the features offered by each institution and the combination of products they offer. We also take some institutional factors into account.
This award aims to give recognition to institutions that offer quality products with great service to our Aussie farmers, and we take the following into account when rating each one:
- Relationship management services
- Information and education services
- Online banking functionality
- Range of products and services
- Other specialist services
The bank or financial institution who achieves the highest score across these categories will be awarded the Canstar Bank of the Year – Agribusiness Award.
You can read our latest full Star Ratings report for agribusiness providers.