Southern Queensland producers have the chance to expand their knowledge, free of charge, at two Rabobank workshops designed to help provide the financial skills essential to managing agricultural enterprises.
The practical Financial Skills Workshops – providing producers with an opportunity to both upskill and network – will be held in Mitchell and Roma in mid-November.
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, and explore topics such as taxation versus management accounting, essential business management ratios and understanding key components of a business's financial profile.
Chair of the Southern Queensland Rabo Client Council Stuart Armitage said "financial skills are critical for our producers and future producers".
"These workshops provide knowledge and insight in running and managing the day-to-day aspects of agricultural businesses from a financial perspective. They also seek to attract and retain the next generation of individuals in the industry while supporting the knowledge of current producers," he said.
"The information provided through this Rabo Client Council workshops is real and valuable – meaningful knowledge you can walk away with and use in the business."
"And for agricultural producers, having a greater understanding of their business when approaching a financier can also help when applying for any additional finance requirements or to fund a new venture."
Mr Armitage said the timing of the upcoming workshops had been aligned with the Young Beef Producers Forum (YBPF) being held in Roma (from November 17 to18).
"YBPF has been delivering an inspiring learning program for young producers for many years, and we are pleased to be able to link into their exciting event and offer forum attendees the chance to also participate in the workshops," he said
Mr Armitage said it wasn't necessary to be a Rabobank client to attend the workshops, with "one of the aims of the Rabo Client Councils to enhance the skills of all primary producers".
Rabobank regional manager Brad James said the workshop content had been tailored to agricultural businesses in southern Queensland 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," he said, "and interpreting the financial ratios to make calculated business decisions.
"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 operation when the season improves.
"If you're interested in these workshops, keen to meet other leading producers in the agri sector and increase your financial literacy and skills – confirm your place before the workshops are fully allocated."
The workshops – which will be limited to 30 participants each and are not restricted to the bank's clients – will be presented by director of Hudson Facilitation, Tony Hudson.
Workshop dates and locations are:
- Tuesday, 15 November 2022 - 8:30am – 3:30pm - Mitchell
- Wednesday, 16 November 2022 - 8:30am – 3:30pm - Roma
To register to participate in the workshops, please click here.
