6-Week Farm Financial Management Series

A 6-class program designed to help food-producing farmers work smarter, not harder. Register: https://farm-financial-management-series.eventbrite.ca

About this Event

This 6-class, free program provides food-producing farmers in the Kawartha Lakes and Peterborough area the knowledge and skill to better understand and use financial information to make sound business decisions.

Please note space is limited. Preference will be given to farmers within the City and County of Peterborough and City of Kawartha Lakes. If space permits, farmers outside of Kawartha Lakes/Peterborough will be accepted to the training based on the order of ticket reservations, with Farmers having priority seating prior to non-farmers. Following the registration deadline, the Zoom Meeting links will be sent on February 1 to successful registrants.

Program Description:

This 6-week Farm Financial Management series is designed for Agricultural businesses wanting to learn about ways to increase profits by working smarter rather than harder.

The program includes online facilitation of a dedicated program of live workshops delivered on the ZOOM platform. The workshops are delivered as a sequential, laddering-up bootcamp, so participants registering here are applying for the full 6-week program.

Classes:

1. Good Business Practices: how to reduce overall workload by working smarter. It includes a suggested Chart of Accounts, useful non-financial records and a list of considerations to start determining your own “best” scale of operation.

2. Financial Literacy: how to record financial data and interpret what your accountant presents in your Financial Statements and how to understand the Key Ratios your banker uses to determine your interest rates and debt capacity.

3. Calculating Full Costs of Production: easily decide which products to promote, which to raise prices, and which to cease production. After comparing with benchmarks of similar operations, you will know where to look for more efficiencies.

4. Setting Prices and Marketing to Optimize Sales: how to ensure reasonable margins, smooth cash flow, raised profit, and increased equity.

5. Cash Flow Budget Projections: get realistic monthly estimates of cash availability. This assures that you have balanced all the cash elements of your business. When kept up to date, you (and your banker) can immediately foresee the impact of any unexpected challenges.

6. Creating a Farm Business Plan is the most effective tool for supporting farm sustainability. Primarily prepared to clarify the ongoing Vision, Mission, Goals and Strategies of the owner(s), it is also a document for explaining the business to investors and lenders. It describes the Marketing Plan, appropriate Scale of the selected enterprise(s), Production and Labour Plans, Risk Analysis, and multi-year Financial Projections.

Participants Will Receive:

• Before each webinar you will receive a PDF outline of the presentation which can be printed to expedite taking personal notes.

• You will also receive an Excel or Word template and learn how to input your own data to create personalized spreadsheets and documents for your own operation.

• You may ask questions during the webinar to clarify what is being presented; then you may submit confidential questions by email for to be answered afterwards.

When

• Each class is 1.5 hours in length, with one class per week on Tuesdays from 7-8:30 pm EST beginning February 2, 2021 with the last class on March 9, 2021

• 100% live and online via Zoom

You will receive a direct email from the program organizers and provided with the Zoom link prior to the first training date.

For further information or questions, please contact info@kawarthachoice.com :

Kelly Maloney, Economic Development Officer – Agriculture, City of Kawartha Lakes 705-324-9411 extension 1208 kmaloney@kawarthalakes.ca

Gabi Dragomir, Rural Economic Development Officer, Peterborough & the Kawarthas Economic Development, gdragomir@peterboroughed.ca, or cell: 705-872-6224

Program Support

This project is funded in part by the government of Ontario.

Register on Eventbrite: https://farm-financial-management-series.eventbrite.ca

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