And according to a recent participant of two of those courses, the benefits have been two fold both increasing her business confidence and having the chance to share insights with other participants.
Last year, Emily Mueller from near Murray Bridge, SA, completed both the Farm Business Fundamentals and Farm Business Analysis courses along with her husband Trent.
“We gained valuable information through the courses, and picked up many handy tools that we now use in our daily business,” Emily said.
“We also benefited from networking with other farmers, allowing us to share similar challenges and experiences.”
Along with her mother-in- law Julie, Emily also competed DairySA’s ‘Get Office Ready’ workshop, which highlighted some office organisational areas they were keen to improve, which is an ongoing process.
“Most importantly, we’ve gained knowledge and confidence in dealing with bank managers and financiers, now understanding what information is required,” she said.
“Julie also attends regular DairySA People in Dairy ESKI (Dairy Australia’s Employment Starter Kit) meetings, which help her keep up to date with all the new information around employing people on farm and the changing regulations.
The tools and programs have allowed the Muellers to track their usage and spending to help them better manage farm decisions with the changing conditions going forward.
“We would highly recommend the FBM workshops to other dairy farmers as it gets everyone on the same page when it comes to embracing technology and new business management systems and it also helps to be off farm and talk through different issues in a neutral space,” she said.
“We now feel like we can call on DairySA people and other dairy farmers if we are having issues or just need to talk something through.”
According to DairySA’s Beck Burgess, the Farm Business Fundamentals and the Farm Business Analysis courses each catered for a specific level of financial and business knowledge and confidence.
“We recognise that there are different entry points for farmers when it comes to financial acumen,” Ms Burgess said. “By completing a simple checklist, it’s easy to see which course is the best match for you. Of course, we are more than happy to take farmers through the details of each course to help them if needed.”
Using industry tools such as DairyBase, Standard Chart of Accounts and the Cashflow Tool, farmers will benefit from reduced financial stress by knowing their business better, get a better understanding of where the dollars are going and how they are working, and increase their confidence in being ‘Bank Ready’.
“These courses are the ideal opportunity to increase confidence or consolidate understanding of your farm business,” Ms Burgess said.
