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This video series will introduce you to the Financial Statement and Analysis Spreadsheet. In these videos, Kevin Bernhardt, Extension Farm Management Specialist with UW-Madison Division of Extension and Professor at UW-Platteville, provides information on completing the spreadsheet. The Extension Farm Financial Statement and Analysis Tools consists of Excel worksheets that: 1) provide a means and […]
In a world where language and identity intertwine, the choice of terminology holds significant weight. The HMoob people, a community with a rich cultural heritage and linguistic diversity, are at the heart of an evolving conversation around self-identification. While the terms “Hmong” and “Hmoob” are familiar, a newer label, “HMoob,” has surfaced, sparking discussions about […]
n this video, Andy Larson, farm financial consultant with the Food Finance Institute and also the Wisconsin Small Business Development Centers, talks about financing options for a rural food or farm business. We’re going to spend most of our time talking about traditional banks and traditional lending, but also bring up a number of options that are more non-traditional, if you don’t want to use a bank or you can’t.
Getting Started in Your Food or Farm Business video series highlights the key components of food and farm entrepreneurship and introduces you to the tools, skills, and resources you need to successfully start your own food or farm business.
In this video,Katie Wantoch, Extension Farm Management Outreach Specialist, talks about considerations when filing an income tax return for the food or farm business.
Wisconsin farms will often have many different enterprises that contribute to their whole farm business. For example, a dairy farm may have enterprises for milk sales, calf or finished cattle sales, grain sales, and hay sales. It is important for farmers to understand the income and expenses associated with each enterprise, how equipment or other […]
Farmers can use multiple tools and methods for analyzing their farm financial statements. Some are very involved and take lots of time, while others don’t take much time at all. Benchmarking is making comparisons to assist the farmer with making the best financial management decisions for their farm business that will improve financial position and […]
Farm financial statements, such as the balance sheet, income statement, statement of cash flows, and statement of owner equity provide a historical review of the farm business’s financial position and performance. This financial analysis provides a basis from which to plan for the future of the farm business and draft pro forma financial statements. What […]
Stress is everywhere, and there are many facets of our daily life where we encounter challenging times. For parents, it can be increasingly difficult to help our children navigate through these challenging and changing times when our own buckets feel dry many days.
Improving energy efficiency and generating renewable energy on the farm can significantly reduce energy expenses over the long term. Thanks to new and expanded funding, agricultural producers can now significantly reduce the upfront cost for clean energy projects on their farms.
Take the next step by checking out the Farmers’ Guide to Business Structures Guide UW Center for Cooperatives Farm Commons Starting a Business – WI Department of Revenue Wisconsin One Stop Business Registration Portal Starting and Running a Business – Legal Food Hub Start Your Business – Small Business Development Center IRS – Nonprofit Resources […]
The Federal Milk Marketing Order (FMMO) is a program overseen by the United States Department of Agriculture (USDA) that regulates the dairy industry. It includes 11 milk marketing orders and applies to about 75% of total US milk production. Federal Milk Marketing Orders (FMMOs) are a regulatory framework established by the Agricultural Marketing Agreement Act of 1937 to stabilize milk prices and ensure a steady supply of milk to consumers.
In this video, Katie Wantoch, Extension Farm Management Outreach Specialist, talks about the importance of financial statements and how they impact the future of the business.
In this video, Katie Wantoch, Extension Farm Management Outreach Specialist, talks about the importance of recordkeeping and introduces the farm business financial model.
This guide was developed jointly by UW-Madison Extension, USDA agencies, and DATCP to provide producers just getting started in agriculture with a well-rounded resource. Set up as a road map, it walks beginning farmers through a variety of resources available to support them through their journey of starting an agriculture operation, farm, or food business.
Community is especially important in farming, as living and working in rural communities can feel isolating. Community can be defined many different ways, but in its simplest form, it is about connection. Community is about more than a group or organization. It is the feeling of belonging, being accepted, and having similar values and beliefs […]
This article is one of a series of articles about worksheets in Cultivating Your Farm’s Future: a workbook for farm succession planning in Wisconsin. Cultivating Your Farm’s Future: a workbook for farm succession planning in Wisconsin was developed as a companion piece for Extension farm succession programs. It is designed to help family members and […]