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BenchmarkingUnderstanding your own financial profile is important for the success of your farm operation. Benchmarking helps you assess your farm operation and determine its strengths, weaknesses and areas where improvement is possible. Comparing your performance against industry peers and competitors will reveal areas in your business that need fine tuning and set the bar for you in terms of how good you have to be to remain competitive. To help you with this process, Agriculture and Agri-Food Canada has developed a free, easy-to-use financial tool called "Benchmark for Success". You input basic financial information on your farming operation, and the program generates a report that compares your financial performance with your peers and competitors. The financial information you provide is not collected by AAFC. It is intended for your use only and is completely confidential. In addition to the "AAFC" reports provided here, there are numerous sources of both financial and production benchmark indicators on the internet. This site links you to benchmark information on other sites. A variety of farm management tools have been developed to help you manage your farm operation. Many are available on the internet. A list is provided on this site under farm management tools. Like to learn more about benchmarking? This page links you to articles on benchmarking and best management practices. Would you like help with the interpretation of your benchmark report? Agricultural specialists in your region are available to help you. Check out the local agricultural offices near you.
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