Farming as a business
A very good article in Farmer’s Guardian regarding the WiRE conference at Harper Adams, reminded me of a few salient points that we should all bare in mind!
- For business analysis a pen, paper and calculator are all that are required
- Understanding profit is essential
- The results of your annual accounts should never be a surprise – you should have an idea what the answer will be
- Spending more than you take in is not sustainable
- Improving profit doesn’t mean necessarily working harder – it may mean selling for a better price, or spending less
- Don’t be afraid of money, or your bank statement