Have you ever wondered “What exactly are enterprise budgets?! How do they work? And why would I use them in my farm planning?” Join YA and KPU’s Institute for Sustainable Food Systems for a FREE webinar that will help you understand how enterprise budgets can be a powerful planning and financial analysis tool that can be used to guide business decisions on your farm.
Date: Wednesday, April 12, 2017
Time: 10:00 AM – 12:00 PM PST
A recording of this webinar session will be available to those who register at the link above.
Enterprise Budgets for Small Scale Farms
Part 1: Why do you need enterprise budgets? (40 minutes)
- Explain farm enterprise budget and discusses their application/uses
- Understanding economic enterprise budgets
- Describe how ISFS enterprise budgets were developed
- Discuss findings of ISFS enterprise budgets
Part 2: How to use ISFS enterprise budgets (40 minutes)
- Overview of record keeping of farm activities
- Discuss components of an enterprise budget: Revenue, Variable Costs & Fixed Costs
- Describing ISFS dynamic worksheets (two examples: one crop and one livestock)
Part 3: Questions and Answer (20 minutes)
Ermias Afeworki is a Research Analyst with the Statistics and Research Unit at the Ministry of Agriculture, Victoria, BC. Prior to his current role and data analyst contractor position with BC Hydro, Ermias worked as a research associate with the Institute for Sustainable Food Systems (ISFS) at Kwantlen Polytechnic University. During his time in ISFS he developed farm financial planning budgets for 26 agricultural products through focus-group consultations with small-scale farmers in Southwest British Columbia. He also developed dynamic enterprise budget worksheets that can be adapted to evaluate a farmer’s own crop/livestock operation. In his part-time Research Assistant position at the University of Maine in USA, Ermias and colleagues published a study that evaluated the economic feasibility of investment in supplemental irrigation in potato production in the State of Maine, USA.
Ermias studied Master of Science degree in Resource Economics and Policy at the University of Maine in USA and Bachelor of Arts in Economics at the University of Asmara in Eritrea.
YA & the Institute for Sustainable Food Systems at Kwantlen Polytechnic University.
ISFS is an applied research and extension unit at KPU that investigates and supports regional food systems as key elements of sustainable communities. They focus predominantly on British Columbia but also extend our programming to other regions.
Their applied research focuses on the potential of regional food systems in terms of agriculture and food, economics, community health, policy, and environmental integrity. Their extension programming provides information and support for farmers, communities, business, policy makers, and others. Community collaboration is central to their approach.
ISFS Enterprise Budgets: http://www.kpu.ca/isfs/enterprise-budgets
This site has PDF and Excel files of 30 crop and livestock budgets.
Looking for more details on ISFS’ Enterprise Budgets? Check out this article in the BC Organic Grower – Why You Need Enterprise Budgets, Fall 2014
KPU’s Institute for Sustainable Food Systems’ Enterprise Budget Project received financial support provided by Vancity Savings & Credit Union.
This webinar is being produced in conjunction with the Young Agrarians Business Mentorship Network and is made possible with the support of our generous funders!!
2015, 2016, & 2017 Funding for the Young Agrarians Business Mentorship Network Pilot is provided in part by Vancity, Salt Spring Coffee, Rotary Hastings Sunrise, Agriculture and Agri-Food Canada and the BC Ministry of Agriculture through programs delivered by the Investment Agriculture Foundation of BC.