Our agribusiness section has changed significantly in recent years, with fluctuations in the dairy payout from $4.30 through to $9.30 and swings in the Official Cash Rate driving significant interest rate changes. Recently we have seen farm working costs increase by an average of $1 per KgMs.
All of these factors, along with the complexities of operating farms in this changing environment, mean it is even more important that as farmers you know and understand your numbers.
These numbers come with the following names – profit, turnover, budget, cashflow and performance indicators. Knowing what these numbers mean and what you can do about them to make your business work for you is essential. You’ll be better placed to make informed decisions about the following issues concerning your business:
• Goals and how you’ll achieve them
• Is your correct business structure in place?
• What is your tax plan?
• How can you grow your business and how can you fund it?
• What opportunity is best for us?
• How can you reduce debt?
• What is our cost of production?
• When will we be able to retire and hand the business over to our children?
• Is now a good time to sell?
In this webinar, you will learn about:
Why you need to know your numbers
Knowing your current position
Understanding your profit & loss and balance sheet
Knowing your break-even point
What KPI’s and benchmarking are
About budgets and cashflow forecasts
Why planning is important
Your farming operation and business will be one of the biggest assets you will ever own. It’s important to nurture it, protect it, and make it work for you.
This webinar is bought to you by Dairy Women’s Network and CMK Chartered Accountants.