Canada's sheep industry is full of opportunity, with strong demand and decent prices, but producer retention past the five-year mark has been identified as one of the challenges of growing the industry. Several factors play a role in new entrant and existing producer success, and Ontario Sheep Farmers (OSF) have focused on risk management program... Read More
Category: Finance
When a farm business transitions from one generation to the next, there's a laundry list of technical things to do — business structure changes, estate planning, loans, and insurance. But there's more to farm succession than just the technical aspects, and Farm Credit Canada (FCC) has created a new role within the organization to help... Read More
The good times in agriculture tend to happen in 40-year cycles. Unfortunately, for anyone kicking off a farming career this year, one of those cycles just ended. While the good times might be over, this particular up cycle lasted a particularly long time — and that may be why the downward swing has caught many... Read More
Trust is the basic building block of all relationships. You can't have accountability, commitment, or constructive conflict without first having trust. A lack of trust or a breach of it is a business risk, but how do we first measure, then manage that risk? Trust, like the word strategy, is thrown around largely as a... Read More
If you're quick about it, you may be able to access funding from the federal government to hire a summer student. Earlier this week, Agriculture and Agri-Food Canada announced that the Youth Employment and Skills Program was open for applications. The program offers cost-share of employee wages and benefits at 50%, up to a maximum... Read More
Conexus Credit Union will be shutting the doors to seven of its rural locations in Saskatchewan. The seven locations are at Chamberlain, Cupar, Drake, Middle Lake, Mossbank, Spy Hill, and Young. Two other locations in Regina — one on Fifth Avenue, the other on Wallace Street — will also be closing. In a news release,... Read More
Canola farmers in Canada will now have access to $500,000 in interest-free loans under the Advanced Payments Program. The changes, effective immediately, are an increase from the original amount of $100,000. “The implementation of these regulations means that farmers facing cash flow challenges in Canada will now have access to up to $500,000 interest-free for... Read More
According to Agriculture and Agri-Food Minister Marie-Claude Bibeau, regulations are now in place for the changes to the Advanced Payments Program (APP) announced at the beginning of May. The original changes were an increase to the APP cap from $400,000 to $1,000,0000 for all producers in an effort to help farmers in the face of... Read More
Statistics Canada is reporting last year's 45.1 per cent decrease in realized net farm income (to $3.9 billion) as the largest since 2006. Realized net income is the difference between a farmer's cash receipts and operating expenses, minus depreciation, plus income in kind. The attribution for the steep decline includes rising feed, interest and labour... Read More
Frustration is brewing among farmers as changes to the Advanced Payment Program (APP) have yet to happen. The increase to $1 million cap from the previous $400,000 was announced more than three weeks ago. Scott Keller, farmer from New Norway, Alta., took to Twitter on Wednesday calling on the federal government to do something about... Read More