Know about Your Farm Business

By

Dr. Tom M. Jones

Extension Economist

Agricultural Economics Department

Mississippi State University

Often farmers are heard to say, "We need business/marketing training to help us on our farm." They are just as often amazed to learn that business, economics and marketing training is available specifically for Mississippi farmers. The past two winters, the Agricultural Economics Department at Mississippi State University has through its Extension staff provided farm and farmer oriented training to a number of farmers all over Mississippi. Many farmers were unaware of these programs in spite of promotion through radio, television and the print media in addition to contact by their local county agricultural agents.

This farmer specific training ranges from the basic record keeping and budgeting to risk management to financial analysis to all phases of marketing. This instruction covers thirty-six hours and is divided into two blocks separated by a week to avoid classroom fatigue.

The training is designed to teach farmers and refresh farmers in the basics of information collection and use so they can make better economic decisions. Mississippi farmers are excellent producers of agricultural crops. However, they are often deficient in their ability to economically analyze their enterprise and recognize and understand trends developing in the financial health of their farm.

Farmers attending these financial short-courses have been pleased with the information received. Many comments have centered around "I needed this years ago" to "Everybody needs to take this training periodically". Many farmers attending these courses have computers on the farm, use Certified Public Accountants and receive financial statements from their CPA’s.

This training is available through County Agricultural Agents. The County Agricultural Agent is Mississippi State University’s liaison to the farmers of Mississippi.