Time running out to get low cost business advice

Source: Saskatchewan Agriculture and Food

This winter could be your last chance to take advantage of a federal program providing low-cost business consulting services to agricultural producers.

The Specialized Business Planning Services offered by Agriculture and Agri-Food Canada (AAFC) are funded until March 31, 2008, under the previous Agriculture Policy Framework.

Regional Manager Chris Ruschkowski says that means producers shouldn't delay getting started in the Farm Business Assessment Program.

"It offers five days worth of consulting from a financial agri-business consultant," Ruschkowski said. "What they do is look at two years of previous financial records to give you a pattern of where your business is at, and then they do a scenario going forward of a change or a ‘what-if.'"

According to Ruschkowski, the farmer can easily receive $2,500 worth of consulting services for the small fee of $100.

"Why wouldn't any producer go into this program?" he asked. "At worst, they are getting information that somebody else has reviewed, and they can bounce ideas off that person. Even if the feedback is that they're going in the right direction, they've at least got that peace of mind, and it's only cost them $100."

Along with benchmarking their operations, the business assessment helps producers plan ahead.

"For example, if you wanted to purchase or sell land, purchase cattle, or make other arrangements that might change your operation, this looks at what impact such a move would make," Ruschkowski said.

Once an application for the assessment is filed, the producer will work with one of AAFC's qualified consultants on the details.

"You need to spend the time getting your financial records together to meet with the consultant, because they need to discuss the options with you and determine your goals," Ruschkowski stated. "It may take several hours, but it's something you would want to do anyway. It's often something people plan to do, but never get around to doing it."

The Farm Business Assessment is an important first step to taking advantage of other funding offered by the department in areas such as marketing, human resource and succession plans. The subsidies available can add up to thousands of dollars to pay for the services of experts in agri-business and general business planning.

"It could be of use to virtually anybody," Ruschkowski said. "Farmers are sometimes hesitant to ask for help or to lean on someone for advice. But it's really no different than a CEO of a company asking for advice from their financial officer or accountant."

The information and application forms for the Farm Business Assessment Program are available on the Agriculture and Agri-Food Canada website at http://www.agr.gc.ca/, under the "Programs and Services" link.

Ruschkowski urges farmers to apply soon.

"You have to get the application done by March 31, 2008," he noted. "Usually, it's in the winter months when you want to do that kind of work, so right after harvest is a good time to start the process."

For more information, contact:
Chris Ruschkowski, Regional Manager
Agriculture and Agri-Food Canada
Phone: (306) 780-7324
E-mail: ruschkowskic@agr.gc.ca