Farm Business Assessment

Through the Farm Business Assessment program, you may be eligible to receive a professional Farm Financial Assessment, Action Plan and Follow-up Service. Such tools should enable you to be better prepared to make management decisions.

Eligibility Criteria

Established or beginning farmers with at least $10 000 in annual gross farm sales.

Summary

A business planning professional provides a confidential, independent, one-on-one financial review. Valued at $2 500, you may be required to pay $100 (this fee is waived for producers who qualify under the Canadian Farm Families Options Program) for the following services:

Farm Financial Assessment

A consultant provides up to three days of service to review your farm's past and current financial information and discusses your goals and objectives with you to help you determine what options could benefit your operation financially. During this period, the consultant spends one day visiting your farm.

After the analysis and discussion portions of this service have occurred, you will receive a Farm Financial Assessment tailored to your business' unique characteristics.

Included in this package:

• a business profile
• a statement of assets and liabilities
• a farm business ratio analysis
• an income and expenses statement for the previous three years
• and other relevant information related to your business

Many circumstances require you to make educated decisions based on hard facts. With a financial analysis in your hands, you will be better prepared to make management decisions.

Action plan

After the business planning professional completes and returns the Farm Financial Assessment to you, it's time to kick-start an action plan and implement the option that you chose. The consultant will spend up to two days preparing your action plan.

You will receive:

• a financial plan (including cash flow planning)
• projections of options
• a written report

Follow-up

After using the Farm Business Assessment service, you will have the option to have a business planning professional follow-up with you (three days for beginning farmers, one day for others) to discuss how you are progressing with your plan and to offer further advice if necessary. There is no additional cost for this service. This service is usually provided about one year after you have received your Farm Business Assessment.

Quebec Contact(s):
Quebec:
Canadian Agri-Renewal Services
Agriculture and Agri-Food Canada
Suite 350-4
901 Cap Diamant Street
Québec, Quebec  G1K 4K1
Telephone: 418-648-4775
Fax: 418-648-2439
Toll-free (information): 1-866-452-5558
Web site: http://www.agr.gc.ca/index_e.phtml

National Contact(s):
See regional contact(s).