Central Queensland producers now have the chance to expand their knowledge, free of charge, at three 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 Emerald, Rolleston and Clermont in late October.
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.
Rabobank Northern Queensland/Northern Territory Rabo Client Council member Ardie Lord said financial skills “are vital 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,” Mr Lord said.
“The information provided through this workshop is real and valuable – meaningful knowledge you can walk away with and use in the business.”
Mr Lord said, for agricultural producers, having a greater understanding of your business when approaching your financier can also help when applying for any additional finance requirements or to fund a new venture.
Rabobank regional manager Trent McIndoe said the workshop content had been tailored to farming businesses in central 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 business when the season improves.
“The workshop in Clermont follows on from a workshop held there in March 2022. In this follow-up second module, we will be exploring gross margin analysis – a critical step in farm planning and decision making.
“In this new module, we will be taking an enterprise-focused approach, separately considering grains and livestock enterprises. The module will also focus on preparing annual cash flow budgets. Attending the workshop held in March is not a prerequisite to participate in this workshop.
“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 courses 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:
- Wednesday, 5 October 2022 – 10:30am – 5:00pm – Emerald
- Thursday, 6 October 2022 – 10:30am – 5:00pm – Rolleston
- Friday, 7 October 2022 – 9:00am – 3:30pm – Clermont
To register to participate in the Emerald and Rolleston workshops, please click here.
To register to participate in the Clermont workshop, please click here.
