GFM Network News

This study by Farm Management Canada and the Agri-Food Management Institute surveyed 604 farmers and found those in the top quartile outperformed those in the bottom quartile by a wide margin, including having a return on assets that was 525 per cent higher and gross margin ratio that was 155 per cent higher.

Now is the second-best time to create your business plan

Business plans boost profitability but during a crisis, they also help you ‘sleep at night’

Reading Time: 3 minutes COVID-19 has a lot of farmers dusting off their risk management strategies, but if a business plan isn’t part of that, you’re likely sacrificing your bottom line — and your peace of mind. “We know that farmers are very stressed, but we also know that business planning can help,” said Heather Watson, executive director of […] Read more

Got one or more of these in your office? Then you’re not only likely allowing some tax deductions to slip through your hands, you’re violating rule No. 2 on Carman Praski’s Top 12 tax-saving tips.

Top 12 tax-saving tips for your farm

Some require help from an accountant or adviser, but others are things you can do yourself

Reading Time: 4 minutes Every farmer wants to pay less in taxes, but it can be hard to know where to find those savings. “How do you feel confident you’re paying the least amount of tax possible? It’s tough,” said Carman Praski, business development representative at Farm Business Consultants. At the recent Ag in Motion virtual conference, Praski offered […] Read more

Smart ag research program receives $5.1 million in funding

Reading Time: < 1 minute Olds College’s Smart Farm has received $5.1 million in federal and industry funding for its applied research program. The funds will be used for a series of “industry-driven, college-led” projects to develop, evaluate and demonstrate smart ag technology. “Our goal is to provide beta testing research that will support small to medium enterprises and help […] Read more

Sawyer to lead ag-products marketing council

Sawyer to lead ag-products marketing council

Reading Time: < 1 minute Pine Lake cow-calf producer Doug Sawyer has been named permanent chair of the Alberta Agricultural Products Marketing Council, and Calgary lawyer Stan Church has been named vice-chair. As well, ag business management specialist Patricia Henderson and consultant Julie Stitt have been appointed council members. The marketing council provides oversight to the province’s seven agricultural marketing […] Read more

Nationally, farm net cash income was $12.95 billion, up six per cent overall

Not the best of times, but farm income rose in 2019

After a big drop two years ago, net income rose last year — and cannabis became a major crop

Reading Time: 3 minutes Alberta farm income more than doubled last year. But it’s not as good as it sounds, even if you have been indulging in some of what is suddenly the province’s third-largest cash crop. Net farm income in Alberta in 2019 was just north of $671 million — which is well above the 2018 figure of […] Read more

The grain trains just keep getting bigger

The grain trains just keep getting bigger

Reading Time: < 1 minute Less than a year after loading the province’s largest-ever grain train, Paterson Grain’s Foothills terminal at Bowden has upped the record by a wide margin. The terminal recently loaded 16,313 tonnes of grain on 167 new high-capacity hopper cars — 10 per cent more grain than on a 147-car train last summer. The train was […] Read more

Despite the pandemic, seeding at Hebert Grain Ventures got off to a good start this spring thanks to a solid management plan.

Planning for success can also help you in a time of crisis

Large-scale Saskatchewan farm says it has found some financial positives during pandemic

Reading Time: 4 minutes Hebert Grain Ventures might just be the closest thing to pandemic-proof a farm can be. “From a pandemic standpoint, the farm really hasn’t felt it. It’s kind of business as usual,” said Evan Shout, chief financial officer of the 22,000-acre grain operation in southern Saskatchewan. “We probably came out of this a little bit better […] Read more

Move it or compost it might be the motto when it comes to bedding plants and baskets, which is why getting gardening centres designated an essential service was critical for the sector.

Growers relieved as Alberta garden centres declared an essential service

Product needs to move during the brief spring sales window, veggie gardens are suddenly popular again

Reading Time: 2 minutes Garden centres may not spring to mind when thinking of essential services, but getting that official designation was critical, says the CEO of Landscape Alberta. “It opens the value chain from the agricultural side,” said Joel Beatson, whose organization joined Alberta Greenhouse Growers Association in requesting greenhouses, nurseries and garden centres be classed as essential […] Read more

Merger of Cereals Canada and Cigi approved

Merger of Cereals Canada and Cigi approved

Reading Time: < 1 minute Members of Cereals Canada and the Canadian International Grains Institute (Cigi) have approved the amalgamation of both organizations. “This merger brings together two strong organizations with a common vision to serve our members and build value for the Canadian cereals industry,” said Cereals Canada board chair Jean-Marc Ruest. “Cereals Canada and Cigi have already established […] Read more

Summer jobs program to pay entire wage

Reading Time: < 1 minute The federal government has made changes to the Canada Summer Jobs program for businesses with fewer than 50 employees delivering essential services. Businesses will have 100 per cent of their employees’ salaries covered by the federal government (up from the previous 50 per cent), and employees can be covered until February 2021. As well, the […] Read more