There has never been a more critical time for farmers to get to grips with their farm finances.
That’s why the Future Farmers of Yorkshire have teamed up with Savills to provide our members with a comprehensive Financial Planning programme.
Participants will cover all aspects from account analysis, to business planning and sourcing funding.
Learning will take in small groups and will be delivered as one to one sessions, online and in person.
These skills are essential in order to make informed decisions about the future of the farm under the new Government funding policy.
Future Farmers and Savills have put a lot of work into making a programme that we think will be of real value to farmers.
We would urge members to make the most of this heavily subsidised and unique opportunity.
Dates and Course Content
Day 1 – 9th November 2021, 10.30am to 2.30pm at the Regional Agricultural Centre (YAS offices), Harrogate
Session 1: Understanding Accounts
- Key terms eg turnover, opening and closing valuations, balance sheet, profit
- Difference between profit and cash (and importance of cash flow)
Session 2: Accounts analysis
- KPIs across sectors, business health check
- How to identify areas for improvement
- Wider SWOT analysis of the business, linking back to accounts
Course work: look at own accounts and extract key figures and compare to industry KPIs
Day 2 – 16th November 2021, 10.30am to 2.30pm via Zoom
Session 1: Budgeting and Cash Flows
- Budget starting point
- Partial Budget
- Cash flow forecasting
Session 2: Risk and Sensitivity Analysis
- Industry data
- Yield and Price impact on margin
- Examples across sectors
Course work: produce a partial budget for a change to an enterprise.
Optional one to one Zoom meeting will be offered for discussion and feedback on the coursework.
Day 3 – 23rd November 2021, 10.30am to 2.30pm at the Regional Agricultural Centre (YAS offices), Harrogate
Session 1: Farm Finance
- Sources of finance eg mortgage, loan, HP
- Bank requirements- serviceability and loan to value
- What to demonstrate and present to a bank
Session 2: Business Plan
- Business and personal objectives
- Business plan to present to a bank
- Link between the business plan, accounts and budgets
Day 4 – 30th November 2021, 10.30am to 2.30pm, a farm business visit
Costs and how to book
This programme is being heavily subsidised by Savills and the Yorkshire Agricultural Society, as such the charge is £75 + VAT.
Places are limited. To book a place, please call the Yorkshire Agricultural Society on 01423 541000.
Testimonials from previous training courses
Andrew Wilson – Media Training
This training gave me the skills and confidence to talk to TV, radio and press about farming issues. It highlighted the need to not assume the media understands agricultural terms, and keep things simple. Training with fellow Future Farmers always adds to the entertainment!
Kate Moore – Negotiation Skills Training
Negotiating is a skill you’re not likely to learn in college or university. Negotiating truly is a skill that you learn in your business through practical experience. This course gave me the chance to practise the core sills of negotiation, giving me the tools to be in stronger position the next time I enter into a negotiation.
Freddie Watson – Mind Your Own Business
I went on this course to get a better understanding of my accounts, so that I can make efficiencies and boost profits. The coffee was flowing, as was the chat with fellow future farmers. It’s very reassuring to know that others are in the same position as yourself, but actively trying to learn to improve and supporting each other along the way.