Southern WA primary producers have the opportunity to expand their knowledge, free of charge, at practical financial skills workshops designed to help provide farmers with key financial skills and an understanding of their gross margin analysis and cash flow budgets.
Hosted by the Western Australia Rabo Client Council, the Financial Skills Workshops – which are open to all farmers, not just Rabobank clients – will be held in Narrogin on Tuesday, August 11 and Albany on Wednesday, August 12.
The complimentary, interactive ‘Measuring Financial Performance’ workshop in Narrogin provides hands-on guidance on understanding financial statements and banking requirements and explores topics such as taxation versus management accounting, essential business management ratios and understanding key components of a business’s financial profile.
While the ‘Gross Margin Analysis & Cash Flow Budgeting’ workshop in Albany – also complimentary – focuses on gross margin analysis and the cash flow implications of a variety of enterprise choices.
Limited to 30 participants each, the workshops will be delivered by director of Hudson Facilitation, Tony Hudson.
The Financial Skills Workshops – which provide farmers the opportunity to upskill and network – have been led and funded around Australia and New Zealand by food and agribusiness banking specialist Rabobank, through its Rabo Client Councils. Groups of innovative, forward-thinking Rabobank farming clients who are passionate about making a difference in their communities, the Councils support a range of initiatives designed to make a meaningful impact on the vibrancy and resilience of rural Australia.
Rabobank state manager for WA Steve Kelly said the upcoming Narrogin and Albany workshops were designed “to help give farmers the financial skills and tools they need to manage increasingly complex agricultural enterprises”.
He said the workshops were intended to help farm owners and managers better understand their businesses’ financial management requirements.
“Farmers may not always know how to interpret financial statements, or they may wish to further understand their business’s gross margin, or simply want to sharpen their financial analysis skills,” he said.
Mr Kelly encouraged couples and families to attend their local workshop together so they could build a shared understanding of financial reporting. “The sessions give farming families time away from the daily demands of their businesses to strengthen their financial skills together,” he said.
Since the launch of the Financial Skills Workshops in 2018, the Rabo Client Councils have extended this valuable learning opportunity to over 5,400 farmers nationally.
Mr Kelly said the Rabo Client Council network was focused on meaningful grassroots initiatives that build industry capacity, champion rural wellbeing and strengthen the rural-urban connection.
“Building long-term industry capacity and supporting agricultural education are priorities for the Rabo Client Councils,” he said. “Through education, we aim to enhance the industry’s reputation and strengthen its current and future workforce.”
Mr Kelly said the workshops in Narrogin and Albany offer a development opportunity for WA farmers.
“Feedback from farmers who have attended previous workshops held in the state has been very positive, with many saying they left with practical tools and a clearer understanding of
