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Tag Archives Business/Finance

Deciding the culture you want for your business and then creating is a difficult process.
Guide Business, Management

Creating the outward-looking business

AME management: Do you know the type of culture you want for your business?

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Last month’s column addressed outward-looking versus inward-looking businesses. The idea sensitized me to watch other organizations (and to check myself!) to find evidence of one or the other. Often, the evidence is mixed. Three examples A hotel where we have hosted CTEAM for several years had the same three young guys providing support for the […] Read more
Farmers who think leasing equipment will allow them a faster tax write-off may find the opposite to be true.
Machinery

Lease or buy?

Accountant dispels the tax advantage myth of leasing

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It’s been offered as accepted fact in more than a few coffee shop conversations that leasing equipment offers significant tax advantages to farmers. Talk to the sales staff at dealerships and you’ll likely hear them make the same claim. Even so, Lance Stockbrugger, a chartered accountant and cash crop producer from Saskatchewan, says the idea […] Read more
Guide Business, Opinion

The Farmers Business Network revolution

FBN says it is going to revolutionize agriculture, making farmers way more competitive. The service is off to a good start

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As farmers, we may be on the verge of a transformational change in the way farmers conduct business and manage their operations all because of the Silicon Valley start-up: “Farmers Business Network.” History is littered with farmer and peasant uprisings. Because of the disorganization of these farmer rebellions and quick suppression by governing elites, most […] Read more
Organic food and beverage markets totalled $4.4 billion, up from $2.8 billion in 2012, COTA estimates. Exports for 2017 were predicted to reach $607 million.
Fruit/Vegetables, Guide Business

Room to grow organic

Farmers are upping their organic output, but they’re still a long way from meeting the demand of the two-thirds of Canadians who sometimes or always shop for organic

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Led by Millennial buyers, demand for organic food across Canada is growing robustly. Demand is surging ahead of domestic production, which has been growing but not nearly fast enough to keep up. “Demand is definitely outpacing supply,” says Jill Guerra, research and special projects co-ordinator for Canada Organic Trade Association (COTA). “We need more producers […] Read more
It is important that the second generation understands that farming is an equity game not a cash game.
Guide Business, Succession strategy

Family farms: Recognition + Appreciation > Return on Assets

AME Management: Keep track of good old-fashioned sweat equity

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Income is important in a multi-generational farm business, but sometimes the key that actually unlocks a farm’s prosperity has more to do with long-term clarity and its members’ sense of opportunity. Therefore, if you are the second generation (SG), you must ask yourself: “Do I have a career path to ownership? Or am I just […] Read more
A successful partnership is one that shares in the achievements of whatever the individuals are jointly involved in.
Guide Business, Management

Leader effectiveness meets the leader

Good leadership points you in the direction of building a successful business

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I want to share what I’m noticing in small business these days in terms of leadership, and what I say to those who ask about leader effectiveness. First, I also want to say that I do not share client stories even with the names redacted. Agriculture is just too small, and my work with leaders […] Read more
“We get paralysed about ‘how.’ We only see obstacles,” says Bossy. “We need to understand obstacles are the raw materials to get to our goals.” – Mike Bossy.
Guide Business

Service please

Are you keeping up with the level of business service your neighbours are getting from their accountants and advisors?

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Country Guide compares notes with two insiders in Canada’s booming farm advisory sector. As they tell us, there’s a lot to keep up with. There are two reasons why Canadian farmers are now using more business services than they did five or 10 years ago — and neither of them is going away any time […] Read more
If you’ve bought equipment available to use after November 20, 2018 and before the year 2024, you can write off three times the normal tax deduction under new federal rules.
Guide Business

Tax change: Depreciable purchases written-off faster

For farmers and agribusinesses the new measures will provide a larger tax write-off sooner

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This past fall the federal government introduced the Accelerated Investment Incentive, giving Canadian businesses the ability to write off capital expenditures faster. Encased in its 2018 Fall Economic Statement, this incentive allows farmers and other businesses more depreciation in the year an asset is purchased … a lot more. The idea is to spur business […] Read more
“HR tends to get put on the back burner,” says Jennifer Doelman.
Guide HR

Get professional with your HR

The Doelman family is finding their HR plan is an essential pillar for their farm’s success. You may too

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With the current shortage of good labour in the ag industry, putting more effort into HR planning can help you keep your staff, thereby saving the cost and aggravation of recruiting and training new people — if you can find them. Hiring new staff is worse than dating, says Jennifer Doelman, who farms with her […] Read more
Are you willing to give up the comfortable anonymity of commodity sales? If yes, and if you do it well, the market may have room for you. But pay close attention to those costs.
Guide Business, Management

Beyond commodity agriculture: Business decisions for your farm

AME Management: Whatever approach you take, the aim should be to improve your bottom line

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When commodity prices are on their way to finding a bottom, many producers look to change their business model away from commodity crop and livestock production. While this is not a new phenomenon, it is becoming a more important strategy as the traditional commodity strategy — i.e. to increase scale — becomes harder to execute. […] Read more

AgCanadaTV

AGCanadaTV: In Case You Missed It – Your National Ag News Recap for the week ending May 17, 2019.

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