The current economic climate of weak commodity prices and declining subsidy payments has re-emphasised the need for prudent business management practice, not least efficient financial planning and budgetary control across the arable crops sector.
The principles of business management applied to farming are no different from any other type of business. Knowing your costs is an essential part of the decision making process and this can be achieved by benchmarking the physical and financial performance of your business with CAFRE. This will assist in identifying the strengths and weaknesses of your business and, with the help of a CAFRE Crops Development Adviser, developing a plan to improve its financial performance.
Reflecting this need, business management will be one aspect of an all day Arable conference to be held on the 12 January 2016 at CAFRE’s Greenmount Campus. This conference, which is being jointly organised by the UAS, UFU and CAFRE, entitled ‘Max yield from the field’ aims to provide cereal growers with an update on financial performance looking specifically at improving yield as a means of increasing returns from the arable business.
To register for the UAS/UFU/CAFRE Cereal Conference, please contact the CAFRE Admin on 028 9442 6770. The event costs £25 per person if booked by the 7 January and cheques should be made payable to Ulster Arable Society.