Young farmers from across the south-west, Mallee, Wimmera are being encouraged to sign up now for a two-day intensive business bootcamp.
The Young Farmer Business Bootcamp program combines expert presentations and advice with hands-on activities and professional networking opportunities in convenient rural settings.
Young Farmer Project coordinator Sarah Wallis said the program aimed to support young people who wanted to have a long and successful career in the sheep, beef and mixed farming industries.
“Participants will walk away with a plan that helps them develop strategies to build their business,” Ms Wallis said.
North east Victoria cattle breeder Sarah White said the Benalla bootcamp introduced her to the idea of partial budgeting which she continued to use.
“In a tough year, yes, the initial impact of taking fertilizer out is a great income saver, but what ongoing impact will that have on your business?” Mrs White asked.
Mrs White said the bootcamp exposed her to the concepts of five-year cash flows and long-term business planning.
“The accountants and banks are always asking for a one-year cash flow, but (the bootcamp) got us doing a five year cash flow which was fantastic, because it gives you a vision of where your business is going,” she said.
The workshops will be co-delivered by technical experts from Meridian Agriculture.
Meridian Farm Business Advisor Paul Blackshaw said the sessions would be informative, interactive and enable participants to access tools to apply their learnings directly to their own businesses.
The program costs $100 for the first person and then $50 per additional person from the same farm business, with all meals and course materials included.
The bootcamps will be held at three different locations across Victoria in February and March to ensure that everyone has the opportunity to attend one in their region.
The two-day boot camp in the south-west will be held at Skipton on March 14-15.
The bootcamp program will take participants through analysing the performance of a business, understanding profit and loss, variable costs and gross farm income, return on assets and understanding risk.
This program is funded by Agriculture Victoria and Australian Wool Innovation.