Primary producers in the Pittsworth and Goondiwindi 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.
The practical Financial Skills Workshops – providing farmers with an opportunity to both upskill and network – will be held in mid July.
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 Queensland Rabo Client Council chair and Cecil Plains cotton grower Stuart Armitage said, "the agricultural sector is part of a rapidly changing world, in which financial skills play a critical role for both our current and next generation farmers".
Mr Armitage said a strong understanding of financials is key to the smooth running of a successful farming business. "These workshops aim to provide crucial financial skills to manage agricultural enterprises effectively," he said.
"There is increasing pressure and need for next-generation primary producers to understand financial reporting – the workshops aim to close the gap between farming expertise and financial knowledge.
"And while many of our well-educated next-generation primary producers have extensive on-farm experience, understanding the nuances of financial reporting and banking requirements can still be unfamiliar to them."
Mr Armitage said the workshops are designed to allow couples and family members to attend together. "They offer a valuable chance for farmers to step away from their business, absorb the same knowledge and foster a shared understanding of financial reporting. By learning together, they can enhance their financial expertise as a team."
Rabobank's Rabo Client Council network is focussed on developing meaningful grassroots initiatives to support key themes focusing on agri education, rural wellbeing, sustainability, adaption and creating rural/urban connections, Mr Armitage said.
"By equipping farmers with the knowledge to efficiently utilise financial reporting and navigate banking procedures, the Financial Skills Workshops play a crucial role in enhancing the resilience and prosperity of local farming enterprises," he said. "As a result, our rural and regional communities also reap the benefits of a financially robust agricultural sector."
Rabobank regional manager for Southern Queensland, Brad James said producers who had attended previous Rabobank Financial Skills Workshops have told the bank the information provided is "real and worthwhile – practical information that they can readily apply to their farming operations".
"Since the launch of the workshops in 2018, the Rabo Client Councils have extended this valuable learning opportunity to over 4,550 farmers across Australia and New Zealand," he said.
"If you're interested in attending 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:
- Tuesday, 16 July 2024 – 8:30am – 3:30pm – Pittsworth
- Wednesday, 17 July 2024 – 8:30am – 3:30pm – Goondiwindi
