A sensible workshop particularly designed to supply the monetary abilities important to handle a farming operation will quickly be obtainable for northern main producers.
Following the success of final 12 months’s digital Monetary Expertise Workshop – which previous to COVID-19 was held face-to-face – the course will once more be performed on-line in 2021.
Spearheaded by meals and agribusiness banking specialist Rabobank’s RaboClientCouncil – a gaggle of the financial institution’s farming shoppers who volunteer their time implementing packages that contribute to the sustainability of rural communities – the initiative is obtainable freed from cost to farmers within the area.
The interactive workshop will give attention to sensible monetary abilities, corresponding to gross margin evaluation, money circulation budgeting and deciphering monetary statements.
Rabobank Northern Territory and Northern Queensland RaboClientCouncil chair Michael Reinaudo, of Ingham, mentioned the response to final 12 months’s digital format was overwhelming, with the workshops having booked out rapidly.
“Whereas it’s unlucky we couldn’t run the beforehand deliberate face-to-face workshops because of COVID-19 restrictions, the net possibility was equally as profitable, with individuals appreciating the chance to be taught new abilities with out leaving house,” he mentioned.
Mr Reinaudo mentioned he hoped producers walked away from the workshops – that are designed particularly for farm house owners and managers – feeling constructive and impressed to develop their enterprise sooner or later.
“This course will give farmers a extremely complete overview of tips on how to run the farm from a enterprise viewpoint,” he mentioned. “Agriculture has moved nicely past the farm gate and it’s crucial to grasp the monetary fundamentals.”
Mr Reinaudo mentioned this system content material would additionally assist put farmers within the driver’s seat when speaking to their monetary advisers.
“This type of data is actual and beneficial, as it’s one thing you possibly can stroll away with from this program and use within the enterprise. Having a better understanding of your small business when approaching your financier actually helps when making use of for any further finance necessities or to fund a brand new enterprise,” he mentioned.
Rabobank regional supervisor Trent McIndoe mentioned the workshop content material had been tailor-made to farming companies within the area via sensible case research.
“By means of these case research, the periods will have a look at what makes up a stability sheet, revenue and loss assertion and money circulation,” Mr McIndoe mentioned, “after which deciphering the monetary ratios to make calculated enterprise choices.
“This then feeds into periods on how banks assess a mortgage and the significance of growing a marketing strategy in addition to managing the enterprise via adversity and positioning the enterprise when the season improves.”
Director of Hudson Facilitation, Tony Hudson will current the workshops, together with a lot of agribusiness banking professionals.
Funded by RaboClientCouncils, the workshops are open to shoppers and non-clients of Rabobank and there’s no value for farmers to attend.
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