Farm Business Costs
Published: 10 Feb 2014
Do you know where your money is going? Can you justify it?
Key Points
- Top farm businesses understand their expenditure in five key cost areas: Variable Costs, Overhead Costs, Financial Costs, Personal Costs and Capital Costs.
- Good cost management is central to running a profitable farming business. It is not just about reducing costs but understanding the returns.
- Understand why costs are grouped which will assist with enterprise analysis and business decision making.
- Costs tend to increase over time – review them regularly and look for savings.
- It is important to know the impact of costs on both your profit and loss and your cash flow.
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Region National, North, South, West
Region: National; North; South; West
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