When is enough.

Need to speak to financial advisor and then your company accountant. Ready for the difficult discussion with parents + siblings. First and foremost though off to GP with you.

At the end of the day though, you could walk away, receive nothing ever but you are still young and can forge a life in whatever direction you choose. I'm hoping your parents come to see sense and the pish taking stops so you can sleep at night.

Re- cash flow, everyone seems to be under some illusion that cash flow is easier with a bigger business, it’s not it gets worse

“Profit is sanity, turnover is vanity”

But you are never going to make £100k profit on £80k turnover so it’s all relative really.

I have messaged you directly.

BB

Readytoquit said:

Thanks for the replies and messages, difficult conversations to have coming up shortly, it's nice to know that I might not be the only person in this situation

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there's nothing new under the sun! good luck

Readytoquit said:

Thanks for the replies and messages, difficult conversations to have coming up shortly, it's nice to know that I might not be the only person in this situation

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Might?

Best way to sort these things out is to say "I want out let's get an accountant to sort out my package "
You can then go and start on your own then ......after the extortionate acc fees are paid but at least it will bring it to a head .

Life is too short and family life is too important .

Selling bits off to pay off an overdraft never works .....you soon end up building up another OD .

The other thing to remember is that the overdraft won’t cover what it was designed to do due to everything going up. Banks have been known to act stupid in times like this in the past. If you require the od lifting it might be good to remind them you are facing probably a 30% increase in costs maybe 40% so the current od is no longer fit for purpose. This might be of no help if serviceability is an issue but that can be sorted in time

Only read the first post but I would say I get fed up sometimes but I do look outside my life and I’m thankful for everything I have , I only have 300 acres so 1300 seems amazing but I’m sure people with ten look at me like a millionaire , you have to be tactical with tax to be fair , it’s slot of money , if I were you I’d really sit down and dig through the accounts on the farm take out all the lifestyle aspects and just know that the farm can wash its face ( that your efforts are making money ) , sometimes therrrs too much outside negatively to really see forward but selling up really should be a very very last option, don’t sweat the overdraft infact if I were you I’d treat myself to some bits ( just for you) on farm , why not it’s no fun working with bad tools . I know it’s tricky and I’ve been depressed at times , talking helps Tbh if you have a full belly and your health along with a slice of a 1300 acre estate life’s not so bad.

ollie989898 said:

Need to speak to financial advisor and then your company accountant. Ready for the difficult discussion with parents + siblings. First and foremost though off to GP with you.

At the end of the day though, you could walk away, receive nothing ever but you are still young and can forge a life in whatever direction you choose. I'm hoping your parents come to see sense and the pish taking stops so you can sleep at night.

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"First and foremost though off to GP with you"

Best advice - before following the other practical advice people have posted. Your physical and mental health is the most important thing in all of this.

A couple of general points, they have come from personal experience and I hope they are of some use.

Firstly, if you make a move and start a process rolling, no matter how tough/awkward/unpleasant it gets don't compromise just to bring the situation to a close. The only way the upset can be justified is to make sure that it's settled in a way that is permanent. Deal with all future possibilities and be sure that when you come out the other end, no matter what you kept or lost, you have to be able to assure yourself that it won't happen again.

Secondly, we can all get locked in to our own wee kingdoms to the degree that they become the centre of the universe and must be protected at all costs, therefore sometimes a view from outside our "kingdom" can be very useful.

I done a bit of work once for a retired farmer just after I'd bought my own place, had a head full of overdrafts and stock numbers and he gave me a bit of advice, from an aul hand to a young 'un so to speak. He said his own farm had been going through a tough patch a number of years previous, he'd bought ground too dear, prices were poor, bank manager turning the screw, etc, etc, and he was under pressure, stressed, meeting himself going in the opposite direction. He met a wee neighbour woman down the road one day who told him he didn't look himself, was there something wrong, could she help him any way. Upon hearing all his woes, which at the end of the day all really boiled down to money, she immediately replied, "sure couldn't you just sell a field?"

At first he reacted as we probably all would, "she hasn't a farm, doesn't understand, it's not that simple, etc, etc", but then he thought about it and she was essentially right, so he got a few sites passed, sold them, took the pressure off him and family both, said it was the best piece of advice he ever got, and told me to remember it, which I did!

There is always another life beyond the constraints of the one you're currently in, don't be afraid of it, and don't be afraid of change.

Good luck and I hope things ultimately work out for the better.