Do you access reliable data for your irrigation and nutritional needs to ensure that you are on track to produce a valuable crop?
Just as you would use production data, do you collect and analyse business data to ensure that your business is on track to grow your profits and cross-check that you are collecting acomplete set of business analytics to uncover the whole story?
Enter Level Up Hort, a Hort Innovation funded business analysis program, which aims to foster improved business performance through analysis and business review. The program is being delivered by private farm advisory firms, Planfarm and RMCG, which specialise in farm business advisory. It offers more than a cost of production and cash-flow budgeting exercise as it links together how production affects profit and how this feeds into your overall business wealth and growth.
Advisors provide an external and independent set of eyes over your business and complement the work that an accountant or CFO does by getting in behind the numbers and extracting what levers managers can pull to ensure that their business is operating at optimal efficiencylevels.
Production, cashflow and financial data will be used to develop a whole of business review which provides insight into the financial indicators of your business and how well it is positioned going forward. It enables management to make current, well-informed decisions on product lines, machinery and tech investment, re-investment and transitioning the business.
The analysis that this program provides is unique as it not only delivers an annual review ofyour business, but a one-to-one session with experienced farm business advisors who provide interpretation of the data for meaningful and strategic decision-making.
The cost-price squeeze looks likely to continue in the medium term, so how can your business weather the storm that is likely to continue to rage for the next 6-12 months? Level Up Hort will reveal if you’re on the right track and what your risk exposure is. It enables you to sit comfortably with the direction your business is heading.
Level Up Hort is a five year, zero cost program available to levy paying vegetable producers. The program will also produce industry benchmarks to reveal trends in production costs, labour and water use efficiency, fertiliser and energy use as well as income measures including operating efficiency (how efficiently you generate income from your operating expenses) earnings before interest and tax (EBIT) and retained earnings (amount left to reinvest after finance, tax, HP repayments, net capital expenditure and personal costs are deducted).
To find out more about Level Up Hort or register your interest visit our website www.leveluphort.com.au or contact project manager Steff Carstairs on 0428 712 852 /steff@planfarm.com.au.
This project has been funded by Hort Innovation using the vegetable and onion research and development levies and contributions from the Australian Government. Project Number: MT22009
