Taking care of grain farm business at Forbes forum

Author: | Date: 13 Mar 2012

Taking care of grain farm business at Forbes forum

Successful management of the business side of their farm operations is becoming more critical for local grain growers.

Grain price volatility, increasing costs of production and seasonal vagaries have underlined the importance of effective enterprise management in stabilising the farm business and boosting profitability.

To help growers in their quest to develop a greater understanding and appreciation of the many facets of farm business management, the Grains Research and Development Corporation (GRDC) is hosting a special forum in Forbes on March 22.

The Farm Business Management Update at Forbes Services Memorial Club will feature a line-up of expert speakers who will offer growers insights into some of the key current farm business issues.

GRDC Southern Regional Panel chair David Shannon says the Update, the first of its kind to be held in the Forbes region, is part of a new GRDC initiative aimed at increasing grower and rural adviser capacity in farm business management through various platforms.

“Recognising the importance of enterprise management in improving grain producers’ incomes, the GRDC has embarked on a new series of forums at which growers and other grains industry professionals can access valuable information and resources to support them in their business decision-making.

“Improving the soil, sowing higher-yielding crops and introducing better farm practices aren’t the only pathways to improved profitability for growers,” Mr Shannon said. “Farm business management is another vital area that can have a direct influence on increasing farm-gate returns.”

The Forbes forum will begin with a presentation by Robert Patterson from Rural Management Strategies who will discuss options for growers to fine tune their enterprise mix, to be followed by Mark Martins of Market Ag who take a look at the management of decisions, attitudes and emotions attached to grain marketing.

Consultant Peter Ridge will outline land value trends and the impact on farm businesses, while tax effective debt reduction will be the topic of a presentation by Julie Harris Adams from Keneally and White Accountants, Wagga Wagga.

The subject of smart technology to improve farm management will be outlined by Karen Roberts of NSW DPI, and the day will conclude with Elizabeth Lawrence from the National Centre for Farmer Health addressing the issue of health and wellbeing down on the farm.

Mr Shannon said facilitated question and answer discussions will also be conducted during the forum.

“The Farm Business Management Update is a great opportunity for growers to discuss those aspects of their farm operation that are taking on greater significance these days.”

A detailed program for the Farm Business Management Update, which runs from 9am to 3.30pm, can be obtained by visiting www.grdc.com.au/updatedates or by contacting ORM on 03 5441 6176 or email admin@orm.com.au.

GRDC Project Code: ORM00001

For more information: ORM
03 5441 6176

Contact: Sharon Watt
Porter Novelli
0409 675100

GRDC Project Code ORM00001