AMES, Iowa — The Agriculture, Food, and Enterprise Development Program at Iowa State University Extension and Outreach will host an agricultural financial management boot camp for specialty crop growers in December. The short and intensive program is designed to provide producers with the opportunity to optimize their business model, review their financial infrastructure, develop a financial plan and prepare to raise funds to further develop their business. .
The first two sessions will be held virtually on December 6 and 7 from 9 a.m. to noon, with two virtual coaching sessions to follow. The second two sessions will take place on December 15 and 16 from 9 a.m. to noon. The event is free and registration will be limited to 10 companies, each of which can invite two participants. To register, visit https://go.iastate.edu/TDIQUE.
The sessions will be led by Andy Larson, agricultural outreach specialist at the Food Financial Institute and a small poultry producer. As an agricultural outreach specialist for the Food Financial Institute, Larson works with entrepreneurial agricultural businesses to build agricultural financial management capacity and access the capital they need to grow. He brings his expertise in agricultural business and marketing, agricultural loans and grants to Farm Boot Camp.
Larson also has experience in academic extension in Iowa and Illinois, delivering programs on the business and marketing side of small farms, local foods, and sustainable agriculture.
“Unprecedented changes in the food industry are rapidly raising the bar for all value-added food and agriculture businesses,” said Olivia Hanlon, education extension specialist with Farm, Food and Enterprise Development at Iowa State. “Old or young, large or small, farms across the United States are scrambling to become more financially resilient and able to adapt quickly.” Financial Management Boot Camp combines training with one-on-one counseling 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 sessions, which will be reviewed and reviewed. During the sessions, participants can expect to develop a realistic and clear business model, financial systems and reporting that will withstand the scrutiny of banks and investors, a credible business plan with assumptions about future growth and a digital financial package to share with stakeholders and support fundraising.