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New online farm business self-assessment tool

Farm Management Canada (FMC), the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA), and the PEI Department of Agriculture and Fisheries (PEIDAF) are pleased to announce the recent launch of the Growing Your Farm Profits (GYFP): Planning for Business Success Online Farm Business Self-Assessment Tool.

This tool will provide producers across Ontario and Canada with the first step in the business planning process. Producers will come away with a comprehensive assessment of their farm business practices, priorities, key goals and ultimately, an Action Plan as a starting point towards the farm's business plan.

"Less than 25 per cent of our farmers have a written business management plan for the farm," says Heather Watson, executive director of FMC. "Creating a plan is essential for every farm - it means setting goals, figuring out the best ways to achieve them and finding the right resources and actions to get there. Most important, when you write it all down, you can invite others to share in creating the farm dream - your family, staff, lenders, business partners, and advisors, who will help realize your vision."

Producers can complete the online assessment on their own, or alternatively invite other members of the farm team to complete the assessment so that they can compare results before creating their roadmap to success; their business plan. Comparing assessments can lead to positive discussions regarding the future of the farm and ensure everyone's perspective is taken into account.

Once completed, the Action Plan can be submitted for validation. Producers may be eligible for cost-share opportunities to hire a consultant or participate in training and learning events to improve their business practices.

"Our goal with this project was to make the Growing Your Farm Profits assessment tool more accessible to producers to help increase the adoption of farm business planning practices," says Aileen MacNeil, director of the Agriculture Development Branch at OMAFRA. "Now producers have the online tool, the GYFP workshop and new GYFP eLearning Course as options to complete the assessment and action plan in the way that best suits their needs and preferences."

As a result of the partnership, FMC will offer a national version of the self-assessment tool, while OMAFRA will offer a customized Ontario version and the PEIDAF will offer a customized version of the tool, called Planning for Business Success, for PEI producers.

"The Planning for Business Success has proven to be an invaluable tool for Prince Edward Island producers in order to achieve a more productive and profitable operation, " says Alan McIsaac, PEI Minister of Agriculture and Fisheries. "Our department is committed to helping producers grow and succeed."

The Growing Your Farm Profits: Planning for Business Success Online Business Self-Assessment Tool is available from the following links:

English - www.FarmBusinessAssessment.com
French - www.AnalysezVotreEntrepriseAgricole.com

More information about the Growing Your Farm Profits suite of learning tools offered by OMAFRA is available at http://www.omafra.gov.on.ca/english/busdev/gyfp/



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February 5, 2018  By Top Crop Manager