NEW ZEALAND – DairyNZ has told farmers that it is not too late to start on next season’s farm budget and it has launched several online tools to make the farm budgeting process easier.
DairyNZ Development Team Leader – People & Business, Geoff Taylor, said many dairy farmers have used the new tools over the past few months and have found them very useful.
“We have developed some great templates that take a farmer through the step-by-step process of developing an annual cash budget, monthly cashflow budget, personal budget and more. Plus, we’ve put together guides that teach farmers how to develop these budgets.
“We’ve used these new templates during our recent series of Cashflow Budgeting Workshops, held throughout the country during February, March and April. Hundreds of dairy farmers have found these tools extremely helpful and they are now available on our website,” said Mr Taylor.
Dairy farmers can download the new budgeting templates and guides for free at: http://www.dairynz.co.nz/budgets.
DairyBase Manager Dr Adam Barker says he has seen the power of the budgeting process multiplied for those farmers who are also using DairyBase.
“Budgeting is a critical process for any successful business. Putting together a budget allows you to take control of all your spending decisions.
“However, where we’re seeing dairy farmers gain even better results is when they use their budget and their DairyBase reports hand-in-hand to make business decisions on farm.
“For instance, farmers are using DairyBase to benchmark farm working expenses. They can determine if their expenses are above or below the average on other farms, and then make decisions to change based on their individual farm business goals,” said Dr Barker.
DairyBase is a tool that helps farmers analyse the resources they have, the way they are using them and, by way of benchmarking, compares their use of resources with other farm businesses.
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