Agriculture News

Mid-year financial checkup is a good investment

Published on 08.01.2019 by Richard Kamchen

microbes.png

At around the mid-point of the calendar year, some farmers may find it a good time to take stock of business operations.

Growing season business plans require checkups, which could be semi-annual, quarterly or even monthly meetings with management and staff, according to Mathieu Lipari, program manager with Farm Management Canada.

Click to read more

Canada’s food processing outlook clouded by weather and geopolitical uncertainty

Published on 07.30.2019 by Martha Roberts

microbes.png

FCC Ag Economics is doing a mid-year check-in on our January 2019 Outlooks. Throughout July and August, we’ll update our expectations about profitability across seven Canadian ag sectors (dairy, broilers, red meat, food processing, horticulture, agribusiness and grains, oilseeds and pulses). We’ll describe what’s happened in 2019 to-date and you should monitor in the next six months.

Our January forecast for varied food processing margins is holding up well.

Click to read more

Should you get a second opinion on farm business decisions?

Published on 07.25.2019 by Richard Kamchen

microbes.png

Seeking a second opinion can be a prudent on-farm decision-making measure, but beware being engulfed by a tidal wave of viewpoints.

Click to read more

How to reduce energy consumption on the farm

Published on 07.25.2019 by Craig Lester

microbes.png

Keeping energy consumption down on farming operations can be a tough task, but many operations find ways to improve, not only to help their operation, but also the environment and their bottom line.

Click to read more

Top five ways farm CEOs can engage employees

Published on 07.18.2019 by Owen Roberts

microbes.png

Employee engagement is critical for new farm CEOs’ leadership, as well as for more established farm CEOs to inject new life into their labour force.

Click to read more

Put debt to work on the farm

Published on 07.18.2019 by Richard Kamchen

microbes.png

Debt isn’t necessarily a bad word. In fact, experts say there are numerous reasons why your business may need it.

Debt is part of what’s necessary for a healthy, thriving industry, says Farm Credit Canada’s vice-president and chief agricultural economist J.P. Gervais.

Click to read more

How does your farm vision lead to success?

Published on 07.11.2019 by Trudy Kelly Forsythe

microbes.png

Farm business planning experts and farmers themselves agree: a business vision is a critical element to success.

Michelle Painchaud, president and CEO of the consulting firm, Painchaud Performance Group, is a firm believer in vision.

“It is motivating, inspiring and aligns everyone to one common goal or destination,” Painchaud says, explaining a farm vision is the desired destination where a farm wants to be. “It is like a travel destination when one is planning a special trip.”

Click to read more

Reduce risk with loan insurance

Published on 07.11.2019 by Richard Kamchen

microbes.png

Loan insurance is an important risk management tool that can allow farms to carry on after a tragic event.

A disability or untimely death to key farm personnel can adversely affect that operation’s ability to generate the cash flow needed to meet its debt obligations, but loan insurance can mitigate that risk, says Terry Betker president and CEO of Backswath Management.

Click to read more

Making the move from farm manager to CEO

Published on 07.04.2019 by Owen Roberts

microbes.png

The business card says, “farm CEO,” which means the farmer oversees everything. But when it comes down to job duties, CEO is defined in two ways: vision and leadership.

Click to read more

Watch machinery costs for top profitability

Published on 07.04.2019 by Matt McIntosh

microbes.png

Can you count on decent profits in a good year? If not, farm finance experts say you might want to re-evaluate your expenses.

As one of the most significant expenses, they add, machinery often requires scrutiny.

Click to read more