NPR - MAKING DOLLARS AND SENSE: CREATING A RECIPE FOR FARM MANAGEMENT SUCCESS

Abstract:
For many years, farm business management enthusiasts have believed the success of any farm is directly related to the business management skills and practices of the farm manager. However, research has largely been based on anecdotal evidence, or small study samples. There has been a lack of convincing evidence regarding the value of adopting farm business management practices, making it difficult to convey the value, and increase the adoption of business management practices by Canada’s farmers.  Until now.
A new ground-breaking study, Dollars and Sense: Measuring the Tangible Impacts of Beneficial Business Practices on Canadian Farms, goes beyond existing research and is the first to establish a measurable link between beneficial management practices and farm financial success. The Baseline Update: Farm Business Management Planning in Ontario study goes one step further to understand business planning activities, including the drivers, barriers and attitudes affecting implementation on farms.
This paper focuses on three recent initiatives: the Dollars and Sense study, Baseline Update, and the Pledge to Plan: A Business Plan on Every Farm campaign to demonstrate how Canada is creating a recipe for farm management success.
Keywords: farm business management, skills development, Canada, agriculture