RIRDC - Research Compendium 1993

Rural Industries
Research & Development Corporation

Research Compendium 1993 - 1994

Research Project

STRATEGIC FARM PLANNING - BY OPEN LEARNING

Objectives

To use video and state-of-the-art instructional design and distance education techniques to:

improve the financial business management skills of Australian farmers; particularly those with poor education and those in isolated rural areas; and to
improve the ability of Australian farmers to manage financial risk and cope with rapidly changing financial circumstances (such as large changes in commodity prices and interest rates or reduced income due to drought).

Background

More farmers are realising that their futures depend on improving their business skills. However, a large number of Australian farmers have not had the opportunity to undertake any formal training in business management.

Outcome

The video package, The Farm Business, provides easy-to-use materials to teach the basics of farm business management, financial planning and financial risk management. It is a step-by-step guide to better farm business management.

Part 1 (22 minutes) offers advice from specialists in banking, business and office management, rural counsellors and the law about transfer of the family farm. It also includes farmers who explain how better business management has improved their position.

Part 2 (26 minutes) contains four tutorials: