NewsBusinessFarm Financial Literacy Classes Launched

Farm Financial Literacy Classes Launched


The following piece is from our sister publication, Alberta Seed Guide.

Canadian farmers can now take financial literacy classes in order to help them better run their businesses, a May 20 news release from Farm Management Canada (FMC)says.

FMC has joined together with MNP to offer a new Farm Financial Fluency training program for farmers. The course is open to producers of all types and commodities, the release says. It is specifically designed to help producers understand, interpret, and use financial tools including balance sheets, financial statements, cash flow, budgets and financial plans.

The program will be delivered virtually between October 2021 and March 2022 with three two-hour sessions happening. Those attending will be anonymous. Producers will also have the option for a follow-up session with an MNP advisor, the release notes.

A recent study by FMC found 63 per cent of Canada’s producers report they understand and can use financial information for decision-making. While producers who have a financial plan and use it for decision-making were found to increase profitability by up to 525 per cent, the release says.

Related Articles

Precision Ag 24/7/365

VIDEO — Digitizing Your Field Records

Demystifying Data

Trending This Week

CIPC fogging a potato shed

Let’s Get Political — It’s Time to Talk about Sustainability in Potato Storage Treatment

Let me just lay it out there — I’m frustrated. Much more importantly, farmers are frustrated too. Farmers are being pushed from all sides...
Potato plants growing in a field

Sustainability — We’re in This Together

Our potato industry has much to learn from the farmers it serves. To survive in potato production, growers constantly adapt and improve, try new...
Mark and John Phillips

How Mark Phillips Found His Way Back to Ag

Mark Phillips has been chosen as a Nuffield scholar this year but working in ag wasn’t always his plan. Growing up on the family potato...
Potato tuber with late blight

Blue Light Found to Reduce Potato Protection Against Late Blight

Researchers at the James Hutton Institute have discovered blue light reduces how potatoes can protect themselves against late blight, a Jan. 12 news release...
Pile of potatoes

Canadian Potato Holdings 20 Per cent Above Average

Canada has almost 80 million hundredweight (cwt) of potatoes in storage as of Jan. 1, a Jan. 17 report from the United Potato Growers...