1. Agricultural Entrepreneurship & Business Planning
Financing and Financial Statements

2. Upcoming Events
San Juan Ag Summit February 10th- 12th, Orcas Island Getting Your Products Into the Market (NABC) February 7 8:45AM to 3:00PM Skagit Farmers Supply Skagit Ag Summit February 25th WSU NWREC

3. Course Field Trips February 18th 10am-2pm
Direct Market Strategies Field Trip
Meet at Extension office
March 4th 10am- 2pm
Business Plan Review and Hands On Financial Statements Work Session with EDASC
Skagit Valley College – Rm F1-12

4. It’s time for ….
This weeks PRODUCER PROFILE!!

5. Reading Review Organic Farmers Business Handbook:
What are some potential financial leaks?
Giving away too much in CSA - rounding weights at farms market - lost/no invoice
What are some tactics for retiring from the farm?
Start retirement account early - manage purchases to maximize tax deductions - make max contributions to IRAs
What does “A dollar saved is $1.34 earned” mean. What implications does this have for a small business?
Market Farming Success
What are some of the “Problems with Low Prices” at farmers markets?
Undermines prices at established stands - It doesn’t encourage higher volume of purchases - alienation of customers when prices eventually rise

6. Small Farm Lenders, Funders and Grants
USDA Farm Services Agency- Darcy Maldonado
USDA Rural Development- Melonie Drecksel
Northwest Farm Credit Services- Trevor
Community Food Coop- Jean Rogers
Skagit Council of Governments Revolving Loan Fund
Skagit Food Distribution Center CDBG- Cole Bitzenburg
Slow Money Northwest- Tim Crosby
Business Impact NW
Craft 3
USDA Value Added Producer Grant
Humanlinks Foundation

7. Why keep financial statements?
Required for loan applications (3 years of records)
Crucial for tracking business profitability
Necessary for reporting taxes (Schedule F)

8. SWOT Analysis

9. Next week’s readings: (online)
Organic Farmers Business Handbook Chapter 2 and 3 and pages
Business Plan topics to work on:
Section 6.1, 6.4, 6.5
Start these and write down any questions you have to ask next week’s speaker and EDASC on Field Trip #2

10. A and B Nursery Business Plan
Describe the who, what, when, where and how of the business plan.
Did you have a clear idea of the above after reading the executive summary?
Based on the information would you ok the operating loan? If not, what information is missing?
Show of hands
Make a case for and against