Sample Agricultural Business Plan

A good business plan gives credibility to your farm, and to your skills as a farm owner or manager.

The first of these covers how to use your farm accounts to assess your financial situation.There are several steps to this process: You should try to write down as much information as possible as this will help you to develop your plan and share your ideas with others.At each stage, take time to ensure you have included every possibility.Working through the guide will help you to understand your business more clearly and will equip you to deal more effectively with your bank, accountant and farming business consultant.This practical guide looks at: ’s guide ‘Management accounting for farmers – Converting the farm’s financial accounts into management accounts: a practical guide’ (PDF, 379K).If you are a new farmer the best way to understand where you want to go in the short and long term is by developing a business plan.A business plan will also be required if you are going to seek financing for your new farm enterprise from a bank or other lending institution.It guides you through the principles of basic accounting, explaining terms and giving examples of how to enter figures into your accounts.Knowing how to interpret these figures is key to managing, budgeting and planning the future of your farm business.You should also familiarise yourself with the relevant regulations for your business.When writing your business plan, consider including: Your financial forecasts should include a cashflow forecast, and projected profit and loss account.

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