Farming for the Long Haul is for farmers who want to build financial planning skills and dive deep into a business plan that considers long-term viability to increase confidence in your business.
In this competitive program, you will explore what long-term viability looks like for your business. If selected, you will:
- Receive up to a $2,750 budget per year to be used on individually tailored technical assistance, for a total of two years. MFT staff will help you identify your short- and long-term goals, and pair you with a technical assistance provider who has the applicable expertise to meet those goals.
- Attend MFT’s Business of Farming workshops (if you have not yet already participated in the workshop series).
- Participate in workshops for experienced farmers that put your challenges and questions to your farming peers and service providers. The kick-off session will include long-term financial planning. Other topics will be chosen by cohort participants.
- Have the option to write a business plan, focused on achieving your long-term viability goals.
- Have the opportunity to submit your business plan to compete for an Implementation Grant of up to $65,000.
- Continue to have the opportunity to engage with previous years’ cohorts through networking and yearly workshops.
During the program, you’ll be matched with an experienced team of business, production, marketing, and retirement advisers over two years to:
- Set long-term financial goals and plan for them, including building equity.
- Create possible scenarios for your business and write a business plan based on your most preferable scenario.
- Create a 10-year financial forecast, that defines a roadmap to increase equity over time
- Plan for eventually exiting the business and receive support around succession planning, tailored to where you’re at in your business and life stage.
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