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Agricultural Entrepreneurship & Business Planning

Join us at the San Juan Ag Summit and Orcas Island NABC for valuable insights on agricultural entrepreneurship, business planning, financing, and financial statements. Learn how to get your products into the market and network with industry experts. Don't miss out on this opportunity to enhance your agricultural business skills!

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Agricultural Entrepreneurship & Business Planning

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  1. Agricultural Entrepreneurship & Business Planning Financing and Financial Statements

  2. San Juan Ag Summit February 10th- 12th, Orcas Island Getting Your Products Into the Market (NABC) February 7 8:45AM to 3:00PM Skagit Farmers Supply Skagit Ag Summit February 25th WSU NWREC Upcoming Events

  3. Course Field Trips • February 18th 10am-2pm • Direct Market Strategies Field Trip • Meet at Extension office • March 4th 10am- 2pm • Business Plan Review and Hands On Financial Statements Work Session with EDASC • Skagit Valley College – Rm F1-12

  4. It’s time for …. This weeks PRODUCER PROFILE!!

  5. Reading Review • Organic Farmers Business Handbook: • What are some potential financial leaks? • Giving away too much in CSA - rounding weights at farms market - lost/no invoice • What are some tactics for retiring from the farm? • Start retirement account early - manage purchases to maximize tax deductions - make max contributions to IRAs • What does “A dollar saved is $1.34 earned” mean. What implications does this have for a small business? • Market Farming Success • What are some of the “Problems with Low Prices” at farmers markets? • Undermines prices at established stands - It doesn’t encourage higher volume of purchases - alienation of customers when prices eventually rise

  6. Small Farm Lenders, Funders and Grants • USDA Farm Services Agency- Darcy Maldonado • USDA Rural Development- Melonie Drecksel • Northwest Farm Credit Services- Trevor • Community Food Coop- Jean Rogers • Skagit Council of Governments Revolving Loan Fund • Skagit Food Distribution Center CDBG- Cole Bitzenburg • Slow Money Northwest- Tim Crosby • Business Impact NW • Craft 3 • USDA Value Added Producer Grant • Humanlinks Foundation

  7. Why keep financial statements? • Required for loan applications (3 years of records) • Crucial for tracking business profitability • Necessary for reporting taxes (Schedule F)

  8. SWOT Analysis

  9. Next week’s readings: (online) • Organic Farmers Business Handbook Chapter 2 and 3 and pages 137-143 • Business Plan topics to work on: • Section 6.1, 6.4, 6.5 • Start these and write down any questions you have to ask next week’s speaker and EDASC on Field Trip #2

  10. A and B Nursery Business Plan • Describe the who, what, when, where and how of the business plan. • Did you have a clear idea of the above after reading the executive summary? • Based on the information would you ok the operating loan? If not, what information is missing? • Show of hands • Make a case for and against

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