Determining past performance helps with future planning

When assessing plans for the future of your farm, it often helps to test them against past performance. Would a change in operation enhance your average performance? But what is average? A major league baseball player with a .300 or better batting average is considered to be achieving superior hitting performance. That’s a successful at-bat […] Read more

Farm management survey results and observations

We recently asked farmers who stopped by our booth at Canada’s Farm Progress Show in Regina to answer a short survey, which included questions about farm management. Key observations from the survey results include: Almost 80 percent indicated that they struggle to attract and retain employees. Sixty-one percent said that they are worried about their […] Read more

Restructuring debt one option to address cash flow issue

For some farmers, as Yogi Berra put it, “it feels like déjà vu all over again.” It wasn’t that many years ago when farms were often required to manage with little or no working capital. I’m talking about liquidity issues, more commonly expressed as cash flow problems. There can be several reasons why this happens […] Read more

Young farmers can ease the transition to farm ownership by being properly prepared.  |  File photo

Are you the next generation? Preparing to take the torch

Have you been identified as the next owner and/or manager of all or part of your family farm? If not, do you expect to be? Do you have any idea at all? There is a broad spectrum of answers to these questions, depending on the farm family and situation. However, you need to ask yourself […] Read more

Face up to financial problems

Financial management can sometimes be frustrating for farmers, especially when problems arise because of circumstances beyond their control. This summer’s weather challenges — drought, hail and excess rain —will result in financial problems for many farms. It’s bad enough when this happens for one year, but it can be-come nearly impossible to survive when the […] Read more

Do you know your farm’s liquidity situation?

It’s often difficult during the busy growing season for farmers to complete all the jobs on their to-do lists. Some office-related tasks, such as financial management, are easy to postpone. However, given narrow profit margins, market volatility and the impact of weather, it is increasingly important that farmers take time to work through a summer […] Read more