By Scout Nelson
The Nebraska Farm Bureau (NEFB) has announced an exciting partnership with Nebraska Farm Business Inc., focusing on enhancing the financial management capabilities of its farmer and rancher members. This collaboration is a testament to NEFB's dedication to aiding agricultural families in adapting to modern farming demands.
NEFB President Mark McHargue emphasized the importance of this initiative, stating that it reflects the bureau's commitment to supporting the agricultural community. The partnership offers a 10 percent discount on Nebraska Farm Business Inc.'s farm analysis service, translating to an average savings of about $200 for each member.
This service is expected to potentially increase annual profits by an average of $20,000 for participating farms.
The farm analysis tool from Nebraska Farm Business Inc. provides a comprehensive approach, covering aspects like crop and livestock management, resource utilization, and financial planning. Tina Barrett, director and farm financial consultant at Nebraska Farm Business Inc., highlighted the tool's ability to convert cash basis records to accrual basis, offering a true reflection of a farm's financial health.
The tool also facilitates benchmarking against similar agricultural operations, aiding farmers and ranchers in making informed financial decisions.
This partnership is particularly beneficial for communication with financial lenders and family members, ensuring that the financial data provided is complete, accurate, and well-organized. With an emphasis on financial education, this tool can enhance the average farm's financial performance significantly.
McHargue also pointed out the critical role of technology in agriculture and the need for continuous innovation. By equipping members with these advanced tools, NEFB aims to strengthen family farm legacies and prepare for the future of agricultural business.
The initiative aligns with NEFB's mission to provide new services for Nebraska farmers and ranchers, aiming to optimize productivity, reduce risks, and ensure long-term success in their farming operations.
Photo Credit: nebraska-farm-bureau
Categories: Nebraska, Business