Secluded among the mulga, Ed Wade, a fifth-generation producer, runs a goat and beef enterprise on his parent’s property, Ravenscourt.
After being forced out of the sheep industry due to drought and the prevalence of wild dogs, the Wades made the decision to diversify into goats.
“We always believed in having a dual enterprise, whether that was cattle and sheep or cattle and something else,“ Mr Wade says.
“In the dry years, we realised our country probably wasn’t always going to be suited to purely cattle, so we looked at what options we had.
“As the goat industry grew and developed, we decided that was the avenue we’d go into.”
Mr Wade used a First Start Loan from the Queensland Rural and Industry Development Authority (QRIDA) to complement his family’s succession planning and to improve the enterprise’s sustainability through water, fencing and shed infrastructure.
“We approached our local QRIDA regional area manager Terry Pulsford and I found the process extremely simple,“ he said.
“It was refreshing to get someone who understood what we were talking about and was able to support us in the application.
“The First Start Loan has helped fund on-farm development projects that allow us to run the goats and cattle more efficiently.
“The exclusion fencing has helped with reducing the impact of wild dogs on the livestock, building a dam has improved our water supply for when we are faced with the next drought and the shed will allow us to stock hay and protect it from the weather.
“We’ve essentially given ourselves the opportunity to plan the future and, with a broad income stream, it’s onwards and upwards from there.
“My advice to other producers in the same situation is to be motivated, have a plan and don’t lose sight of your goals.“
Mr Pulsford was able to help Mr Wade with his initial enquiry and to support him through the application process.
“I was quite impressed with the business that he’d already presented,“ Mr Pulsford said.
“I was impressed with his history in getting to that position and also the direction that he wants to take going forward.“
Looking to the future, Mr Wade hopes to continue with his exclusion fencing plans using the funds from his initial investment.
“With how the market is today [January 2023], it has essentially allowed us to plan into the future with a broad income stream,” he said.
First Start Loans provide up to $2 million for aspiring young producers to buy their first block of land, buy into the family farm or achieve stand alone viability.
