Iowa State University Extension and Outreach’s Farm, Food and Enterprise Development program will host a farm financial management bootcamp for specialty crop producers in December. The short, intensive program is designed to provide producers with the opportunity to optimize their business model, examine their financial infrastructure, develop a financial plan and prepare to raise money for further business development.
The first two sessions will be held virtually on Dec. 6 and 7 from 9 a.m. to noon, with two virtual coaching sessions to follow. The second two sessions will be held on Dec. 15 and 16 from 9 a.m. to noon. The event is free and registration will be limited to 10 businesses, each of which may invite two attendees. To register, visit https://go.iastate.edu/TDIQUE.
Sessions will be led by Andy Larson, a farm outreach specialist with the Food Financial Institute and small-scale poultry producer. As farm outreach specialist for the Food Financial Institute, Larson works with entrepreneurial farm businesses to build farm financial management capacity and access the capital they need to grow. He brings his expertise in farm business and marketing, agricultural lending and grantsmanship to Farm Boot Camp.
Larson also has experience working in university extension in both Iowa and Illinois, providing programming on the business and marketing side of small farms, local foods and sustainable agriculture.
“Unprecedented change in the food industry is rapidly raising the bar for all food and value-added farm enterprises,” said Olivia Hanlon, education extension specialist with Farm, Food and Enterprise Development at Iowa State. “Old or young, big or small, farms across the United States are scrambling to become more financially resilient and capable of adapting quickly.” Financial Management Boot Camp combines training with one-on-one consulting and networking, taking farmers out of their day-to-day environment and providing the tools needed to build a more resilient business.
Participants are encouraged to bring financial statements to the sessions, which will be examined and reviewed. Over the course of the sessions, participants can expect to develop a realistic and clear business model path, financial systems and reports that will stand up to scrutiny by banks and investors, a credible business plan with realistic assumptions about future growth and a digital financial package to share with stakeholders and support fundraising.