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Financial planning with a farm focus


July 22, 2014
By Agricultural Management Institute

July 22, 2014, Guelph, Ont. — Farm owners and managers in Ontario have
the opportunity to improve their business management skills this winter
with the Advanced Farm Management Program (AFMP), which will kick off in
late November at five locations across the province.

July 22, 2014, Guelph, Ont. — Farm owners and managers in Ontario have the opportunity to improve their business management skills this winter with the Advanced Farm Management Program (AFMP), which will kick off in late November at five locations across the province.
 
The program, now in its third year, is offered by the Agricultural Management Institute (AMI) in partnership with the Ontario Soil and Crop Improvement Association (OSCIA) and Synthesis Agri-Food Network.
 
Previously delivered in three locations, AMI has expanded the reach of AFMP to offer more farmers the opportunity to upgrade their skills. This year participants can attend the program in Ridgetown, London, Orangeville, Ancaster or Winchester.
 
“AFMP helps farmers improve their businesses by exposing them to best practices in human resources, financial management, and marketing that make a difference on the farm,” says Ryan Koeslag, executive director of the Agricultural Management Institute.
 
AFMP provides a unique combination of advanced farm business management training and personalized, practical teachings that farmers can apply immediately to their operation.

Farmers who have completed the Growing Your Farm Profits (GYFP) program, or those who have accumulated management experience are encouraged to enrol.

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“Learning how to better use financial ratios gave me the confidence I needed to buy another farm,” says Wyoming, Ontario farmer and 2013 AFMP participant Alfred Noorloos. “I can hardly say enough good things about the skills I developed.”

“AFMP helps you think strategically about your business, build a strong Management Action Plan, and provides practical knowledge and insights needed to improve the everyday management of your operation,” adds Rob Hannam, president of Synthesis Agri-Food Network and AFMP program facilitator.

Hannam and Michael Bossy, president and founder of Bossy Nagy Group Chartered Professional Accountants, will facilitate AFMP sessions.

The program consists of five intensive one-day training sessions over a four-month period. For the 2014/15 class, the sessions are scheduled to run from November to February.
 
Registration is now open. Farmers are urged to register early to secure a position at their preferred location. The deadline to apply is Oct. 31, 2014.

Registrations received before Sept. 15 are eligible for a $150 discount. AFMP tuition is $1,950 per person and farmers may be eligible for a cost share rebate of 50 per cent of the tuition through the Growing Forward 2 Capacity Building program. Full payment of tuition is required by Oct. 31, 2014.

Visit www.ontariosoilcrop.org for more details.

Application forms can be downloaded at www.advancedfarmmanagement.ca. Further questions on registration can be directed to John Laidlaw of OSCIA at 519-826-4218 or jlaidlaw@ontariosoilcrop.org.

More information on AFMP locations, session dates and curriculum can be found at www.advancedfarmmanagement.ca.


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