MONT TREMBLANT, Que. – Canadian farmers often lag behind their international competitors in business planning and preparation, a recent three-nation survey of farmers showed.
Compared to American and Australian farmers, Canadian producers in the Ipsos Reid survey were less likely to have a business plan or a written budget.
Canadian farmers were also less likely to be optimistic about the future and to encourage their children to enter the business.
“Canadian producers need to find ways to adapt business management practices for their own use,” said Farm Credit Canada vice-president Louise Neveu, who presented the survey results on Dec. 1 to a conference organized by the Canadian Farm Business Management Council.
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The survey questioned 2,250 producers in Canada, the United States and Australia – 750 in each country.
It showed that Canadian farmers are more likely to be using computers and the internet.
However, North America lagged behind Australia in many farm management categories, in large part because family ownership and control are more prevalent in North America. The need to manage and operate a family farm reduces the amount of time available for other education or training pursuits.
Australians spend more time organizing joint or co-operative ownership, which gives more flexibility.
Canadian farmers are less likely to establish and maintain profit goals and strategies, according to the survey. North American farmers are much more likely than Australian farmers to look to government for support.
And Australian farmers are much more likely to be positive about the future and encourage their children to get into the business (90 percent) than are North American farmers (66 percent).
Neveu said an obvious result of the study is to question how Canadian farmers can become more positive about their business and to convince their children to be positive as well.
It also raises the question of how to convince Canadian farmers to spend more time and energy on business planning, record keeping and goal setting.
The study found that twice as many Australian farmers as North American farmers are planning diversification or expansion.
Neveu said it is clear that Canadian farmers need to have access to regular upgrading and education.
As well, there is a need to encourage optimism in the industry to attract younger people.
