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Gippsland primary producers have the opportunity to expand their knowledge, free of charge, at a Rabobank workshop designed to help provide the financial skills essential to managing agricultural enterprises.
The practical Financial Skills Workshop – providing farmers with a chance to both upskill and network – will be held in Maffra in mid-April.
The initiative has been spearheaded and funded by food and agribusiness banking specialist Rabobank’s Rabo Client Council.
A group of the bank’s farming clients who volunteer their time implementing programs that contribute to the sustainability of rural communities.
Offered at no cost to participants, the introductory, interactive workshops provide practical, hands-on advice for understanding financial statements and banking requirements.
Topics will be explored, such as taxation versus management accounting, essential business management ratios and understanding key components of a business’s financial profile.
Rabobank Rabo Client Council chair for Southern Victoria and Tasmania and local dairy farmer Chris Griffin said financial skills are essential for producers and future producers.
“These workshops provide knowledge and insight for running and managing the day-to-day aspects of agricultural enterprises from a financial perspective,” Mr Griffin said.
“They also seek to attract and retain the next generation of individuals in the industry while supporting the knowledge of current producers.
“Since commencing these workshops in 2018, the Rabo Client Councils have delivered this learning opportunity to more than 3000 farmers across Australia and New Zealand.
“Attendees at previous workshops have told us the learnings provided through the workshops are real and valuable – meaningful knowledge they can walk away with and use in their business.”
Mr Griffin said that a greater understanding of their business when approaching financiers can help farmers apply for any additional finance requirements or fund a new venture.
“And to assist in making the workshop as accessible as possible to Gippsland dairy farmers, the Rabo Client Council decided to split the workshop over two days to fit in with milking schedules,” he said.
Rabobank regional manager Deborah Maskell-Davies said the workshop content had been tailored to farming businesses in Gippsland through realistic case studies.
“Through these case studies, the sessions will look at what makes up a balance sheet, profit and loss statement and cash flow, and interpreting the financial ratios to make calculated business decisions,” she said.
“Financial reports are often one of the most useful and underutilised reports for many farming businesses.
“The workshop helps farmers gain an understanding of how to read, interpret and use these reports for their businesses.
“This then feeds into sessions on how banks assess a loan application and the importance of developing a business plan, as well as managing the business through adversity and positioning the business when the season improves.”
Ms Maskell-Davies advised farmers who are interested in the workshop, keen to meet other progressive producers in the agriculture sector and increase their financial literacy and skills to confirm their place before the courses are fully allocated.
The workshop – which will be limited to 30 participants and is not restricted to the bank’s clients – will be presented by Hudson Facilitation director Tony Hudson.
Workshop dates are:
• Session 1 – Wednesday, April 12 2023 – 6:00pm – 9:00pm (includes dinner)
• Session 2 – Thursday, April 13 2023 – 10:00am – 1:00pm
To register to participate in the workshops, go to https://rabobankaunz.eventsair.com/financial-skills-workshops/general-registrations/Site/Landing
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