Farmers in the Finley and Coleambally districts have the opportunity to expand their knowledge, free of charge, at a series of Rabo Client Council workshops – co-hosted with Ricegrowers' Association of Australia (RGA) – 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 late 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 guidance 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.
Riverina and Northern Victoria Rabo Client Council member and Kaarimba-based dairy farmer Monique Bryant said the workshops were aimed to help bridge the gap between farming expertise and financial knowledge for participants.
Mrs Bryant said while most farmers are both well-educated and have extensive on-farm experience, understanding the nuances of financial reporting and banking requirements can still be unfamiliar to them.
The workshops are designed to allow couples and family members to attend together, Mrs Bryant said. "They offer a valuable chance for farmers to step away from their business, absorb the same information and foster a shared understanding of financial reporting. By learning together, they can enhance their financial expertise as a team," she said.
RGA president, Peter Herrmann said "like for any business, it is critical for farmers to possess strong financial skills".
"The RGA is proud to partner with Rabobank to bring their Farm Financial Skills Workshops to Finley and Coleambally," he said.
"The Financial Skills Workshops will help our growers improve their understanding of financial reporting and banking, thereby assisting to boost the resilience and prosperity of the local farming industry," Mr Herrmann said. "This, in turn, strengthens their family and local community."
Mrs Bryant said 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.
Rabobank regional manager for Riverina and Northern Victoria, Sally Bull said farmers who had attended previous Rabobank Financial Skills Workshops have told the bank the information provided is "real and valuable".
Ms Bull said while the original target audience for the workshops was the next generation of farmers, "feedback from farmers who are currently in the 'driver's seat' of their businesses is that they are also reaping the benefits from these education sessions – and also pleased to see the learning opportunities are being make available for the next farming generation".
"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," she 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, 23 July 2024 – 8:30am – 3:30pm – Finley
- Wednesday, 24 July 2024 – 8:30am – 3:30pm – Coleambally
To register to participate, please visit the Rabobank Australia website, or click here
Morning tea and lunch catering will be provided.
