Tasmanian farmers in the Devonport and Campbell Town districts have the opportunity to expand their knowledge, free of charge, at a series of Rabo Client Council workshops designed to help provide the financial skills critical to managing an agricultural enterprise.
This is the first time the practical Financial Skills Workshops – to be held in mid-May – have been hosted in Tasmania – providing farmers with an opportunity to both upskill and network.
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 and regional communities.
These complimentary, 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.
Southern Victoria and Tasmania Rabo Client Council member and Triabunna-based mixed farmer, Will Fergusson said "financial skills are critical for our farmers and the next generation of farmers".
Mr Fergusson said the workshops are designed to bridge the gap between agricultural expertise and financial acumen.
"While many of our next-generation farmers may be highly educated or have substantial on-farm experience, navigating the intricacies of financial reporting and banking requirements is often unfamiliar to them, which is why these workshops, addressing these topics, are so valuable," he said.
Mr Fergusson said the workshop content would consider cash flow implications for a variety of enterprise types and there will also be a focus on preparing annual cash flow budgets.
He said the workshops were designed to allow couples and family members to attend together.
"It's a valuable opportunity for farmers to step away from the farm for a day, absorb the same information, and develop a shared understanding of financial reporting. By learning together, they can enhance their financial skills and collaboratively contribute to the success of their farming businesses," he said.
Mr Fergusson said Rabobank's Rabo Client Council network was focussed on developing meaningful grassroots initiatives to support key themes focusing on agri education, rural wellbeing, sustainability, adaption and creating rural/urban connections.
"By empowering farmers to understand financial reporting and navigate banking requirements," he said, "the Financial Skills Workshops contribute to the resilience and success of local farming businesses and in turn, our communities".
Rabobank regional manager for Southern Victoria and Tasmania, Deborah Maskell-Davies said primary producers who had attended previous Rabobank Financial Skills Workshops have told the bank the information provided was real and valuable – "useful knowledge they can walk away with and apply in their farming business".
"Since their inception in 2018, the Rabo Client Councils have extended this valuable learning opportunity to over 4,340 farmers across Australia and New Zealand," she said.
"If you're interested in attending these workshops, keen to meet other leading farmers 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:
- Monday, 13 May 2024 – 8:30am – 3:30pm – Devonport
- Tuesday, 14 May 2024 – 8:30am – 3:30pm – Campbell Town
To register to participate, please click here
Morning tea and lunch catering will be provided.
