Eyre Peninsula farmers have the chance to strengthen their business confidence, build financial literacy skills and become better equipped to face future challenges through two upcoming programs.
Ag Innovation and Research Eyre Peninsula (AIR EP) will deliver the programs across the EP and online from June.
‘Ri$ky Business’ is a free practical, hands-on workshop designed to help farmers improve their business and risk management skills.
Through a fast-paced simulation, participants run a farm business through several seasons in one day.
Sessions will be held in Wirrulla on Tuesday 2 June, Wudinna on Wednesday 3 June, and Rudall on Thursday 4 June.
The ‘Plan to Profit’ online series is a five-part virtual farm business training series designed to improve financial literacy, promote goal setting, prepare for the coming season and longer term, and test various season scenarios including drought.
It will be run during the winter months, with dates to be announced.
Both programs will be delivered by Plan2Profit Agri chief executive officer Mike Krause.
With more than 30 years’ experience, Mike has consulted with more than 200 farmers on improving farm profitability, business expansion, rotational selection, comparative analysis, business planning and succession planning.
AIR EP executive officer Naomi Scholz said the programs had plenty to offer for both established and newer farmers.
“The Ri$ky Business sessions will be a powerful way for farmers to strengthen their business and risk management skills by having to make seasonal decisions just as they would on-farm,” she said.
“Each team starts with the same farm, resources and finances – and their results depend on the decisions they make throughout the session. They’ll need to make decisions around enterprise mix, forward pricing, technology adoption, buying land, financial growth and off-farm investments.
“It’s a great opportunity to test out farming strategies and learn how decisions affect profit, cash-flow and long-term wealth – without risking real money.”
Plan to Profit is more in-depth, delivering fortnightly virtual sessions, with group sessions and a one-to-one online coaching session.
“The Plan to Profit series will get farmers not only thinking about their finances and business goals, but will also support them to get stuck in and have a go,” Ms Scholz said.
“The course is comprehensive, covering business performance, business direction, in-season estimates, a five-year business view and ‘what-if’ scenario testing.
“This is a fantastic opportunity for farmers to take the time to learn more about business management from an expert in this field, and to also start looking at practical ways they can apply these new skills to enhancing their own farm finances in the short and longer term.”
Registrations for the Ri$ky Business workshops and Plan to Profit series are now open at airep.com.au/events
Ri$ky Business registrations close Thursday 28 May.
For more information, email Naomi Scholz at eo@airep.com.au.
