AgWeb.
Regards, MIke
https://www.agweb.com/article/2019-financial-health-plan-for-turbulent-times-ahead/
Regards, MIke
https://www.agweb.com/article/2019-financial-health-plan-for-turbulent-times-ahead/
I think one thing that makes the transition difficult even though farmers in this area know it's over for this area in the short-term future.. Farms are huge money pits. Real estate taxes and insurance and building maintenance and maintenance to the land and maintaining all the equipment.. a lot of it involves costly upkeep whether you use it or not.. I agree change is necessaryI realize I am only a tiny farmer and will not go bankrupt or become rich from my farming. I also realize farming is long term operation and change is not easy to do in many areas in short time cycles. However think farmers are wise not to be drawn into thinking they are the only business that faces the need to make both short and long term changes in their business model.
Many if not all industries have faced issue after issue to maintain being profitable. Some industries have totally failed as we saw with NAFTA. It is dangerous to be led in thinking only farming faces serious issues. Other industries have faced them and have found ways to still be profitable and even more profitable. Look at other industries for ideas that may improve your operation.
One big advantage I think farming has over many industries is the need for food is an increasing need. No way am I saying it is easy nor saying all will make it. As in any industry some will grow and some will fail but the reasons they fail will be varied. One advantage farming has over many industries is you often can try a change on small scale to find out the real affect of it before making a full scale change.