Primary producers across NSW's north west slopes have the opportunity to expand their knowledge, free of charge, at a series of Rabo Client Council workshops designed to help provide 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 Wee Waa, Inverell and Tamworth in mid September.
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.
Rabobank regional manager for Central and Northern New South Wales Toby Mendl said "these workshops aim to deliver critical financial skills and tools to assist in the effective management of farming businesses".
"And it's exciting to bring the workshops back to these communities, following on from successful workshops held in 2023," he said. "The knowledge shared in this round of workshops – focusing on cashflow and gross margin analysis – builds on the information provided last year. However, it is not a pre-requisite to have attended the previous workshops."
Mr Mendl said gross margin analysis is a critical step in farm planning and decision making. "In this workshop series, we take an enterprise-focused approach. We will consider both cash flow implications of a variety of enterprise choices and will also focus on preparing annual cash flow budgets."
He said farmers who had attended previous Rabobank Financial Skills Workshops have told the bank the information provided is very valuable for their businesses.
The workshops – which will be limited to 30 participants each and are not restricted to the bank's clients – will be delivered by director of Hudson Facilitation, Tony Hudson.
Mr Mendl said the workshops are designed to help bridge the gap between farming expertise and financial knowledge.
"Even some experienced farmers might not be very familiar with financial reporting and banking requirements, or they may simply wish to refresh their knowledge of business financial analysis."
Mr Mendl said the workshops are designed for couples and family members to attend jointly. "These workshops provide a valuable chance to step back from the day-to-day of farming business, absorb the same information, and cultivate a shared understanding of financial reporting. By learning together, participants can enhance their financial skills as a team," he 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.
"By equipping primary producers with knowledge and understanding of financial reporting and the banking credit process, the Financial Skills Workshops also contribute to the resilience and prosperity of local farming businesses. With rural and regional communities reaping the benefits of a financially-robust agricultural sector," Mr Mendl said.
Since the launch of the workshops in 2018, the Rabo Client Councils have extended this valuable learning opportunity to over 4,800 farmers across Australia and New Zealand.
"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," Mr Mendl said.
Workshop dates and locations are:
- Wednesday, 11 September 2024 – 8:30am – 3:30pm (Wee Waa)
- Thursday, 12 September 2024 – 8.30am – 3.30pm (Inverell)
- Friday, 13 September 2024 – 8:30am – 3:30pm (Tamworth)
To register to participate, please visit the Rabobank Australia website, or click here
Morning tea and lunch catering will be provided.
