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Creating a business plan is a complex and time-consuming process. Not every business has one. In a recent study by AMI, the farm businesses that did not have one also had less market success.

Business plans:

  • reduce the likelihood of unexpected failures

  • reduce the risk of operations

  • are essential for applications for loans, investments and some grants

  • ensure team access to the plan for the business, keeping everyone on the same page

  • create a framework to test potential problems such as tax changes, employment cost increases

  • identify key certifications and regulatory issues ahead of time

  • ensure well-informed decision-making as new opportunities arise

For all these reason, it is well worth the time. The videos below feature experts in farm business development discussing the purpose and usefulness of a well-developed business plan.

In this video, David Alexander from Everdale discusses the key considerations in a business plan and why they are important.

In this video Pat Learmouth of Farms At Work explains the process and importance of business planning for food and farm businesses.