The day-to-day challenges of running a business often make it hard to find the time to look at how your business performs in comparison to others, plan for the future, or to fully review whether the direction of the business is in line with your aims and intentions.
Farming and other rural businesses are commonly family run, and it is important that both the present and the future are considered in the decisions that are made. We can help you to plan your business to suite your individual needs and objectives.
A particularly vital exercise as part of annual business planning is to produce budget and cash flows each year, and we can also assist with this.
A great many farmers in the UK never produce a budget or cash flow at the start of the year, taking the view that “it will be what it will be”, with world market forces and factors like weather playing big parts in what income can be generated each year.
Whilst this is of course true to a certain extent, it is vital that businesses plan their expenditure and control costs as much as possible, and set realistic targets for the year ahead. Without such planning, businesses are never likely to be able to analyse performance, understand where improvements can be made, or compare against industry standards.
We can appraise and advise on management of risk within your business, looking at things like price protection strategies, income diversification, regulatory reviews and enterprise management.
To discuss how we can help, please contact us for an initial discussion.