WITH dreams of maintaining the family property or entering into a new venture with a partner or flying solo, young producers are taking huge risks to become part of the Australian agricultural industry.
The Suncorp Bank Next Generation forum during Beef 2015 was the perfect place for budding, ag-minded youth to hear from industry heavy-weights and successful producers about how to make their mark in a somewhat turbulent climate.
The Liberal Party's member for Hume in News South Wales and generational farmer, Angus Taylor, spoke to a packed pavilion about how he learned to bend his goals and redefine success as a producer.
"I firmly believe that strategy comes before structure," Mr Taylor said.
"If the strategy is wrong, you'll never get your structure right."
Mr Taylor said producers needed to be given a price incentive to pursue future business and develop a niche market.
"We know farmers are innovative and we've seen that in the resources placed on agricultural research but global ag productivity has gradually fallen over the past few years."
Mr Taylor said consumers had the power when it came to how and what producers decided to pursue as a means of income.
"The population can shift consumption from carbohydrates to proteins to sugars and fruit and vege by three per cent."
Mr Taylor said this relatively small change can mean the future of a farming business.
"Market access is the key and if you haven't got it then you're wasting your time.
"We need to protect, cherish and nurture our markets and there needs to be competitive supply changes."
Highlighting the necessity for farm succession, Mr Taylor said the scarcest resource in agriculture are young entrepreneurs willing to take risks.
"We need to nurture younger farmers and give them every opportunity to succeed.
"Part of the problem is how to finance your growth, even with a strategy."
Mr Taylor said debt was an important ingredient in restructuring the economy but many producers lacked equity as a means of absorbing the risk they were taking and suggested those with property look to leasing as an alternative income source.
"There will be successes and failures- that's the value of risk taking.
"The future is in your hands."