Crop insurance played an important role in 2019 for many Northeast spring crop producers. As we look ahead in 2020, utilizing your local agent's expertise to review your business goals, business risks, marketing plan and more can help you develop a plan that meets your business needs.
In the financial world, your cash position is referred to as liquidity, i.e. your ability to pay your bills. Liquidity is important to any agricultural business, yet it may have a heightened significance depending on what you produce, how long it takes you to produce it and how it’s sold or marketed.
The demanding daily tasks of running a business can sometimes cause owners and managers to have a shorter term focus. After all, in the short term, they may have to concentrate on planting or harvesting crops, taking care of livestock, or day-to-day employee management. But as producers navigate day-to-day challenges, it’s important to maintain a long-term perspective.