Growing Forward
Best Practices Suite
Business Development for Farm Businesses

Business Development Cost-Share Opportunities

Farm Financial Assessment

Based on the Action Plan, you may decide to access a professional Farm Financial Advisor who will review the farm business' past financial performance, analyze the current business situation, discuss objectives, and help to identify options to meet farm business profitability goals.

The program covers up to $2400 of eligible costs to hire an Advisor to complete an Assessment. The participant pays $100.

A Farm Financial Assessment includes:

• A review of past financial performance,
• An analysis of the current farm business situation,
• A ratio analysis and assessment of liquidity, profitability, solvency, repayment capacity
• The identification of options to meet the farm business profitability goals.

Eligible costs include reasonable expenses to perform the assessment.

Farm Financial Assessments do not include personal income tax preparation.

Deliverables for the Farm Financial Assessment

Finding a Farm Business Advisor

A Farm Business Advisor is a professional with experience preparing and analyzing farm financial statements (balance sheets, revenue and expense statements, business ratio analysis, source and use of funds schedules, cash flow statements) on both a cash and accrual basis.

To help meet the needs identified in the farm business' Action Plan, a list of Farm Business Advisors is available. The list can be found on the OMAFRA website at www.omafra.gov.on.ca/english/busdev/farmfamadv-advisors.htm

Invitation for Ontario Farm Business Advisors to be added to the Farm Financial Assessment Advisor Roster

For more information on Growing Forward, please call 1-888-479-3931 or e-mail growingforward@ontario.ca