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