Queensland producers from across the north and central-west will have the opportunity to expand their financial literacy through dedicated Rabobank workshops.
The 'financial skills workshops' help provide the commercial skills essential to managing an agricultural operation, as well as ensuring producers have an opportunity to both upskill and network.
The workshops will be held in a face-to-face capacity between late March and early April in Blackall, Clermont, Mackay, Julia Creek, Greenvale and Ingham. The workshops are free of charge to participants.
The initiative is spearheaded and funded by food and agribusiness banking specialist Rabobank's Rabo Client Council - a group of the bank's farming clients who volunteer their time implementing programs that contribute to the sustainability of rural communities.
The introductory and interactive workshops provide practical advice for understanding financial statements and banking requirements.
The workshop will explore topics such as; taxation versus management accounting, essential business management ratios and understanding key components of a business's financial profile.
Rabobank Northern Queensland and Northern Territory client council member, Sonia Spurdle, said financial skills are paramount for producers and future producers.
"These workshops provide insightful knowledge in running and managing the day-to-day aspects of agricultural businesses from a financial perspective," Ms Spurdle said.
"They also seek to attract and retain the next generation of individuals in the industry while supporting the knowledge of current producers.
"The information provided through this workshop is real and valuable - meaningful knowledge you can walk away with and use in the business."
Ms Spurdle said, for agricultural producers, a greater understanding of the business when approaching their financier can also help when applying for any additional finance requirements or to fund a new venture.
Rabobank regional manager, Trent McIndoe, said the workshop content had been tailored to farming businesses in the region through realistic case studies.
"Through these case studies, the sessions will look at what makes up a balance sheet, profit and loss statement and cash flow," he said.
"The workshops will also interpret financial ratios to make calculated business decisions.
"This then feeds into sessions on how banks assess a loan application and the importance of developing a business plan, as well as managing the business through adversity and positioning the business when the season improves."
The workshops are not restricted to Rabobank clients and have a limited capacity of 30 participants in each session. The workshops will be presented by Tony Hudson of Hudson Facilitation.
For more information visit the Rabobank website.
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Zoe Thomas
Northern based journalist at North Queensland Register and Queensland Country Life.
Northern based journalist at North Queensland Register and Queensland Country Life.
