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.
Every farmer, fisherman or forest product producer defines success differently. For some, success is measured strictly in dollars and cents: the “bottom line.” Others make non-financial goals a priority. Nonetheless, every successful producer shares a few key management and financial practices. Here are some practices recommended by Dr. David Kohl, an agricultural economist specializing in farm business management.
This summer, Farm Credit East welcomed 16 interns to the team. Our interns always leave a lasting impact through the meaningful work they complete and relationships they build with fellow staff and customers. With summer coming to a close and internships winding down, Jean Gallagher asked three interns to reflect on their summer experience.
Farming can be a risky endeavor. There are many ways to prepare for and mitigate risks, and an important one for many producers is crop insurance. Jeremy Forrett, Vice President, Crop Growers, LLP, discusses the importance of Northeast crop insurance in your risk management plan.
