Creating a strategy for growth is a great place to start when considering the future of your farm operation. Whether it is increasing acreage, or increasing quantity of livestock, these resources will assist in decisions that will need to be made when scaling up or working towards increased profitability.
An advisor can provide great guidance for your farm, as well as assist in creating a farm business transition plan. Their unbiased opinion, as well as knowledge from working with other farmers like yourself, can help guide you down a path, you might never consider otherwise. Check out our resources to learn more.
AgPlan is powerful website developed to help rural businesses develop a business plan. AgPlan is free of charge for anyone to use individually or in educational programs. It is designed to provide customized assistance to different types of rural businesses. When you enter the site, you will be able to select your business type.
COVID-19 has highlighted the importance of being prepared for change – to increase the capacity to build the resilience and be ready to seize opportunities that present themselves along the way. This is why Farm Management Canada has created AgriResponse.ca.
Are you keeping score of your business? If not, how do you know if you’re winning? The AMI Business Score Card is a management tool that measures your current performance and management practices so that you can plan for greater success.
This toolkit will help you become more aware of all the potential risks to your business. It will also allow you to assess how you manage risk and identify a plan of action to mitigate those risks. The tool is loaded with resources to assist you in creating a contingency plan for your farm that will help you reduce risk and achieve your business goals!
The Farm Financials Toolkit is designed to help you track and analyze your farm’s financial performance like never before. In Canada, accounting firms and farms each have their own way of setting up their financial statements. However, this becomes problematic for farmers who seek to benchmark their performance year over year, and against other farms. It also becomes problematic when farmers want to see how their management practices impact their financial performance and seek areas for improvement.
This resource focuses on productivity for five farm types to ensure the measurements are tailored for your farm. Within each module, we’ve identified key performance indicators (KPIs) that will help you monitor and improve your farm’s productivity and identify and reduce areas of waste.
Let’s face it: HR management is a subject many of us find dry and boring. We like to think it’s something for office people to worry about – and not something that’s applicable to our business of growing crops and raising livestock. This resource talks about how good employees can save you money and make your farm more profitable.
Plan before you plant- If you’re thinking about growing a new crop, it’s best to find out if it’s a profitable idea before you put seeds in the ground. Take advantage of this online tool to help you decide whether to proceed with your cropping plan. You can develop your business case in one sitting or save your work and complete it over several sessions.
AMI is grateful for the participation of OFA for their support in the development of this tool.
Managing Your Sheep Business is an online learning resource designed to help you work through the process of determining how best to increase production and productivity in your sheep flock. The no-cost resource features five interactive business planning modules that you work through at your own convenience.
Managing your Dairy Goat Business is an online learning resource designed to help you work through the process of determining how best to increase or maintain milk production as efficiently as possible. This no-cost resource features five interactive business planning modules that you work through at your own convenience.
Owning a farm business can be very stressful. If you are struggling with the impact of these stresses, you are not alone. The government cares about the well-being of farmers and farm families and recognizes they face unique challenges that can lead to mental health issues. There is help out there if you’re struggling. Reach out to a friend or other emotional support. Together we can end the stigma that surrounds mental health. You matter, and you’re important. We’re all in this together.
To access Ontario’s kit, visit: http://www.omafra.gov.on.ca/english/about/mental-health.htm
To access BC’s kit, visit: https://www2.gov.bc.ca/gov/content/industry/agriservice-bc/health-wellness-preparedness
According to a Kynetec Agriculture and Animal Health study, only 26% of Canada’s farmers have a business plan – and farmers who have a written business plan and review it annually trend towards receiving higher returns than those who don’t. Business plans provide a strong sense of direction, a platform for communication with your team, and better financial returns. AMI has to tools you need to help you pledge to get started on your plan.
Business planning doesn’t have to be overwhelming. This booklet walks you through how a business plan can work for you and your farm. It’s unrealistic for you to write a business plan from start to finish in one sitting. This great resource outlines easy steps you can take to complete your business plan and keep it up to date.
Find out if scaling up your sales channel is right for your business by creating a vision and establishing a solid business plan to help you achieve your goals. This new course will help you decide if now is the time!
The Agricultural Business Analyzer (ABA) is a financial analysis tool designed to aid users to do review up to 5 years of historical financial data and prepare and analyze a financial plan for the upcoming year. Projections done start with an Opening Net Worth Statement, and look forward for 1 year. Incomes and expenses are considered along with expected cash flows. From this data, ABA creates a Closing Financial Statement illustrating what the financial situation of the farm operation will be at the end of 1 year based on the projections. In addition, the program calculates key ratios in the areas of liquidity, solvency, profitability and efficiency for both the past and projected income and financial statements, and compares them to industry benchmarks.