Financial Risk Management for Specialty Crop Producers was developed to provide an in-depth exploration of maintaining, refining, and growing a farm business. It is designed specifically for specialty crop producers with a few years of experience running a farm business, though the information is applicable to farmers at many stages of development. Written by experienced farmers and professionals serving farmers, the text explores the tools for budgeting and financial planning; skills and strategies for accessing capital; structures and considerations for accessing land; crop insurance products; foundational business management practices; and strategic planning for ongoing success. Each chapter includes relevant examples of forms and calculations.
TABLE OF CONTENTS
Chapter 1: Financial Analysis: Planning Ahead
Authors: Paul Dietmann, Compeer Financial; Maggie Taylor, Delight Flower Farm; and Larry Wood
The basics of financial reporting with a look into some of the tools used to measure performance and plan for the future.
Chapter 2: Accessing Capital
Authors: Hans Bishop, PrairiErth Farm, Inc.; Paul Dietmann, Compeer Financial; and Larry Wood
A look at the accounting and organizational components that lenders desire as well as a variety of options for accessing capital.
Chapter 3: Farmland Access – Assessing Risk, Affordability, and Options for Accessing Land
Authors: Amy Bacigalupo, The Land Stewardship Project; Cree Bradley, Chelsea Morning Farm and Never Summer Sugarbush; Brian DeVore, The Land Stewardship Project; Robin Moore, The Land Stewardship Project; and Karen Stettler, The Land Stewardship Project
Strategies and options for accessing farmland explored through real-life case studies.
Chapter 4: Insurance
Authors: Harriet Behar, Sweet Springs Farm; Leslie Cooperband, Prairie Fruits Farm & Creamery; and Wes Jarell, Prairie Fruits Farm & Creamery
An examination of crop insurance products available for specialty crop producers through Farm Service Agency and private insurers.
Chapter 5: Fine-Tuning Business Management (The Icing on the Cake)
Author: Katie Bishop, PrairiErth Farm, Inc.
Fine-tuning your business management practices through tracking and managing data, leveraging opportunities, customer engagement, and employee management.
Chapter 6: Thinking Long Term
Author: Larry Wood
Planning for the long term success of your farm business through strategic planning, succession planning, and estate planning.
In the coming months, we will be launching a companion self-directed online course to supplement this text. We are also working on a Spanish language version of this text to launch in early 2021. Stay tuned!
We will have a limited number of hard copies of this text available for free. If you are interested in receiving a copy of this text, please complete this interest form.
This book is funded in partnership by USDA, Risk Management Agency, under award number RM18RMEPP22C011.
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