Understanding and utilising farm business management tools for planning, as well as practical tips for working with banks are some of the key topics on the agenda for the Grains Research and Development Corporation’s (GRDC) 2020 Farm Business Updates.

GRDC Grower Relations Manager – North, Susan McDonnell, said this year’s Update program, which will be delivered online, had been designed to provide grain growers with practical, relevant information to help improve farm business profitability.

“After three years of severely reduced income, it is vital that we are prepared and in a position to capitalise on the opportunity of what could potentially be an above average winter crop yield this year,” Mrs McDonnell said.

“As a result, we have very carefully selected five topics that will build knowledge and deliver information that genuinely supports good decision making in the farm office.

“Given the current COVID19 restrictions this year’s update program will be delivered online, with five different topics presented each day from June 22-26. If growers missed the live session they will also have the option of watching a replay later.”

Mrs McDonnell said shifting the Updates, which were originally scheduled for Coonamble, Condobolin and Wagga Wagga, to a digital platform meant they would now be available to growers anywhere.

While ensuring accessibility for all growers has been a priority, she said there had also been a focus on selecting topics in response to grower feedback.

“Growers have been asking for a session on budgeting and cashflow tools and how to use a budget to guide on-farm development and investment planning, so we made sure we included that information this year,” Mrs McDonnell said.

“Being well equipped with budget and business management tools helps take you from survival mode to forward planning and then improved profitability and long-term sustainability.

“To support successful forward planning, we will also take a look at global supply chains and the future economic outlook for the grains industry.

“Then we will offer sessions on how to manage farm business exposure to risk from both the current grain market and exposure through work health and safety compliance for farm labour.”

Mrs McDonnell said the Update program had been developed in consultation with growers and other industry stakeholders to ensure the content was relevant and practical, particularly for this season.

The five topics on offer online as part of the 2020 GRDC Farm Business Updates from June 22-26 will be:

• Management under the microscope – budgeting, interest rates, investment planning, how to leverage existing resources
• Resetting your mindset – taking yourself from survival to business as usual and forward planning
• Economic outlook for agriculture and global supply chains
• Managing farm business exposure to grain markets and tactics to reduce risk
• The farm workforce – work, health and safety compliance and legal requirements.

To register for these free online sessions click on the above links or go to https://grdc.com.au/events/list?region=north. For more information contact Jane Foster on 0438 416 176 or via email jane.foster@orm.com.au.

Contact Details

Contact

Toni Somes, GRDC Communications Manager – North
0436 622 645
toni.somes@grdc.com.au