Burnett region primary producers have the opportunity to expand their knowledge – free of charge – at Rabobank workshops designed to help provide the financial skills essential for managing agricultural enterprises.
The practical Financial Skills Workshops, which provide farmers the chance to both upskill and network – will be held in Bundaberg and Gayndah in late October.
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 communities -has spearheaded and funded the initiative.
Offered to participants free of charge, the introductory, interactive workshops provide practical, hands-on guidance for understanding financial statements and banking requirements.
It explores topics such as taxation versus management accounting, essential business management ratios and understanding key components of a business’s financial profile.
Rabobank Rabo Client Council member for southern Queensland and Coalstoun Lakes-based grain, beef and hay producer Sue Marshall said financial skills “are critically important for our producers and the next generation of producers”.
“Producers across the region are waiting for rain – it’s very dry at the moment,” Mrs Marshall said. “And, if we are heading into a drier summer, as predicted, it’s important producers have the financial skills to make key decisions.
“These financial skills workshops provide understandings and insights for running and managing the day-to-day aspects of agricultural enterprises from a business perspective.”
Mrs Marshall said the Rabo Client Councils have “delivered this learning opportunity to more than 3600 farmers across Australia and New Zealand, since commencing the workshops in 2018”.
“Attendees at previous workshops have told us the learnings provided through the workshops are real and valuable – useful information they can walk away with and use in their business,” she said.
Mrs Marshall said, for primary producers, having a greater understanding of their enterprise when approaching financiers can also help when applying for any additional finance requirements or to fund a new venture.
Rabobank regional manager Brad James said financial reports were often one of the most useful and underutilised resources for many farming businesses.
“The workshops help producers gain an understanding of how to read, interpret and use these reports for their respective businesses,” he said.
“And Rabobank managers will be on hand and share insights into some of the important principles of rural lending – cashflow, character, collateral, capital and conditions – explaining the importance of understanding these principles and their impact on banking relationships.”
The workshops are invaluable educational opportunities, Mr James said, structured under the guidance of the Rabo Client Council members, and specifically targeted to meet the needs of those involved in operating and/or managing agricultural enterprises.
Mr James suggested producers who were “interested in the workshop, keen to meet other leading producers in the agri-sector and increase their financial literacy and skills” confirm their place before the courses are fully allocated.
Hudson Facilitation director Tony Hudson will present the workshops, which will be limited to 30 participants each and are not restricted to the bank’s clients.
Workshop dates are:
• Bundaberg on Tuesday 24 October 2023 – 8:30am to 3:30pm.
• Gayndah on Wednesday 25 October 2023 – 8:30am to 3:30pm.
