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Country Farm and Business Management

Farm and business Management (FBM), is the practice where you coordinate all aspects of your farming operation to maximize income and profit. This process involves a wide range of skills and knowledge, including planning, management and economic analysis.

The following are key practices for the management of country farms and businesses:

Marketing - selling your products or services; financing – loans to finance your operation; risk management – ensuring that your operation is safe from disasters.

Financial - creating pro forma and actual enterprise budgets in order to forecast income and expenses, calculating ratios, and setting financial goals.

Write down your plan for achieving your goals. This will enable you to identify your weaknesses and think through all the functions that are involved in your company.

You will also need to check if the land you own is zoned for production, or if there are any zoning regulations which limit the type production you can do. Check with your county or township to see if they have any restrictions.

Your business may also require public facilities like parking areas, signs, and customer service. These facilities will be needed to accommodate your customers and visitors and should be in compliance with food safety, environmental and zoning laws.

Ultimately, you will need a business that is self-sustaining and generates a steady income. This means you must have enough off-farm revenue to cover your expenses and save for your future business.

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