Tue, May 13 2008
—
STEPHENVILLE — Many Texas farmers, ranchers and agribusiness professionals are finding creative ways to diversify their operations as a supplement to traditional agriculture.
In an effort to address questions associated with farm and ranch diversification, Tarleton State University and Texas AgriLife Extension Service is holding a series of free workshops throughout Texas. A workshop is scheduled for Monday, Feb. 25, at the Parker County Agricultural Services Center, 604 N. Main St. in Weatherford. The first session will begin at 8 a.m. and sessions conclude by 3:15 p.m.
The workshops, titled “Increasing Profits and Managing Risks in Rural Ag Businesses” are the result of a grant recently awarded to Tarleton from the U.S. Department of Agriculture. In addition to Tarleton and AgriLife Extension, project partners include Ag Texas Farm Credit Services and Tri-County Agribusiness Association in Stephenville, Texas; Innovative Capital Solutions in Early, Texas; and the Texas Department of Agriculture.
The workshops will be geared toward agricultural producers and others who are considering diversification or are currently expanding their businesses.
Examples of diversification include dairy farmers who develop and sell cheese products, ranchers who establish wild game hunting operations or grow and market grass-fed beef, and small landowners who plant and harvest seasonal crops such as Christmas trees.
“Those starting new businesses may not anticipate many risks ahead or fully understand how to prevent risks,” said Dr. Ashley Lovell, a speaker at the workshops with the AgriLife Extension. “The workshops will focus on success through risk management practices.”
The upcoming workshop in Weatherford, as well as the other workshops, will cover three areas of risk management:
n Financial risk management, including how to best manage debt, interest rates, credit constraints and cash flow statements.
n Legal risk management, including business structure, licensing and contracts, liability and environmental regulations and state and federal tax considerations.
n Human and personal risk management, including managing labor, business continuity planning and the consequences of disability and estate planning.
Participants will engage in general presentations, breakout sessions and a roundtable session to identify profitable ventures and risks. After the final session, informal concurrent sessions or one-on-one discussions will be available. Participants can bring copies of business plans, loan applications, health insurance tax reporting forms and other appropriate information.
Speakers and those providing assistance are Drs. Ashley Lovell, Greg Clary and John Park from Texas AgriLife Extension Service; Tarleton Small Business Development Center staff, Ron Beck and Randy Burch; representatives from the Texas Department of Agriculture; and diversified producers and representatives from financial and agricultural organizations.
Grant sponsors are the U.S. Department of Agriculture’s Cooperative State Research, Education and Extension Service and the Southern Region Risk Management Education Center.
Other workshops are scheduled for Feb. 26 at Still Waters Facility in Glen Rose, and Feb. 27 at Comanche Community Center in Comanche. A workshop was previously held in Waco Jan. 16.
The workshops are free of charge but registration is needed.
For additional details regarding the workshop or to register, contact your County Extension Agent or go to http://agecoext.tamu.edu/resources/workshops.html. Or, Dr. Lovell can be contacted at lovell@tarleton.edu or (254) 968-1984.
Copyright © 1999-2008 cnhi, inc.