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A good business plan gives credibility to your farm, and to your skills as a farm owner or manager.
As an accounting officer, it is more your job to provide advice on what is going to work for that farming operation in order to help improve that farming operation.
If you run a farm, there is a wide range of advice available to you, including how to write a business plan, run your accounts, benchmark your business and plan your future activity.
In today's world, animal agriculture is more complex and more variable than it was 100 years ago.
There are changing markets, high costs, low profit margins, different ways to raise cattle, and niche markets.
The type of business plan you make is up to you, but the following step-by-step process of making a proper business plan will help you in the long run.
An accounting officer cannot do much to improve farming, rather than look at the books and the financials of the farming operation and use that analysis to determine what is failing and what is not, or what needs improvement and what is doing well.This article was co-authored by Karin Lindquist, a trusted member of wiki How's community.Karin Lindquist earned a BSc in Agriculture as an Animal Science major from the University of Alberta, Canada.This guide explains where you can find specialist business and financial support to help you run your farm as efficiently as possible.There is also information on business and financial planning tools available to you, as well as information on the standards and schemes that you must comply with.Even if your current farm business plan is successful, you should always consider reviewing it for possible growth opportunities and improvements to farming operations.For more information on growth opportunities and changing farming operations, see the guides on ideas and funding for diversification and ideas and funding for diversification.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.To make the best use of the booklet, it will help to have a copy of your latest farm accounts.Download ’s guide to ‘Figures for a Farming Future – Part I: Using the farm accounts to point the way’ (PDF, 276K).