Reading Time: < 1 minute Alberta Agriculture and Forestry has a new online resource called Meeting Customer Requirements that guides producers and processors through the necessary steps to consistently meet market standards, customer, and regulatory requirements. The resource has four modules that each take 15 to 20 minutes to complete. It helps producers and processors evaluate whether their business is able […] Read more
New online resource for processors and producers
Opinion: ‘Rich’ farmers aren’t a bad thing
People may not appreciate how tough it is to build a farm business, but we should still celebrate those successes
Reading Time: 3 minutes It was just one line in a 25-page report, but it stood out: “It is a popular misconception that farmers are making a lot of money in agricultural enterprises.” As a journalist, I’ve never had to worry that people will think I’m wealthy. But, according to the report, the notion of “rich farmers” is widely held. And […] Read more
Do it right and your small town could be ‘cool’
Reading Time: 3 minutes Imagine your rural town with bustling streets, thriving businesses, and growing numbers in the local school. Sound a little far fetched? Especially as you look around and see no signs of any such vision? But peer closely into the future — there’s a good chance your rural town could one day have a whole lot […] Read more
Online tool gives snapshot of farm’s fiscal health
Analyzer uses eight numbers from the year-end balance sheet to quickly produce 11 key financial ratios linked to industry benchmarks
Reading Time: 2 minutes To help producers be aware of the ratios for their farm businesses, Alberta Agriculture and Forestry has a decision-making tool called the ABA Simple Farm Ratio Analyzer. Start with your year-end net worth statement (the balance sheet for 2016), which is also your opening net worth statement for 2017, said farm finance specialist Rick Dehod. […] Read more
Judge free trade by what we have lost
Farmers’ share of food profits has declined as has rural Canada’s economy, while farm debt and food imports have gone up
Reading Time: 3 minutes Over the decades since the Canada-U.S. Free Trade Agreement (FTA) and later, NAFTA, was signed, Canadian agriculture has undergone a significant shift. There was once a multitude of diverse local and regional economic drivers, but now we have a “one-size-fits-all” export-driven, low-priced commodity production model. Farm capital needs have skyrocketed as illustrated by the massive […] Read more
Six habits of highly resilient farmers
In 2010 David Gray, a development officer with the Department of Agriculture and Food, Western Australia (DAFWA), did a small study of four farms that were consistently more profitable and better at dealing with climate change. He found six common characteristics within these resilient farms.
How to calculate a fair price for grain bin rentals
Depreciation is an obvious cost, but there are four other factors that go into the DIRTI 5
Reading Time: 2 minutes Before renting or renting out bin space, get the dirt — or rather, the DIRTI 5 — on all the cost components that go into this type of grain storage. DIRTI 5 stands for depreciation, return on investment, repairs, taxes, and insurance, and are the most significant ownership costs of grain storage, says farm business[...]
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Trust your people, dare to be different, and know your numbers
Those are just three key tips from four innovative entrepreneurs who shared their methods for boosting productivity
Reading Time: 5 minutes Increasing productivity by 15 per cent by 2020 is one of the pillars of the National Beef Strategy, which was created by beef organizations across Canada and released in January 2015. During the recent Canadian Beef Industry Conference, four experts shared how they increase productivity on their operations. Darren Bevans Darren Bevans, general manager of[...]
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From the kitchen to the marketplace
Here are the key steps to consider if you want to sell a product you produce on your farm
Reading Time: 2 minutes What does it take to get a new product from your workshop or kitchen into a buyer’s hands? “Lots of time, patience and attention to detail,” says a provincial new-venture specialist. The first step is to do a self-assessment, said Elaine Stenbraaten. “Are you an entrepreneur? Understand that with a business you start, you assume[...]
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New version of ag business analyzer now available
The online tool can be used to measure a farm’s financial health and identify problem areas
Reading Time: 2 minutes Alberta Agriculture and Forestry’s Agricultural Business Analyzer has recently been upgraded, and user support has been enhanced with a user video tutorial, frequently asked questions, and Microsoft Excel program user tips. The online tool is free and powerful, said farm financial specialist Rick Dehod. “The program can help analyze the financial strength of a farm[...]
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