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Farm and Business management (FBM), also known as farm and business planning, is the process of coordinating every aspect of your agricultural operation with a view to maximizing your income and profit. In this process, a variety of skills are used, including planning management, economics and marketing.

The following are key practices for the management of country farms and businesses:

Marketing – selling your products and services to consumers. Finance – borrowing money to fund your business. Risk management: ensuring your business is protected against disasters.

Financial – creating pro-forma budgets and actual enterprise plans to help forecast revenue and expenses; calculating financial ratios; setting goals.

The first step to achieving your objectives is to create a plan. This will help you to think through the different functions involved in your business and to identify weaknesses.

You’ll need to find out if your property is zoned as production land or if zoning laws limit the kind of production that you can do. You should check with your township and county to see if there are restrictions that could affect your plans.

Your business may also require public facilities like parking areas, signs, and customer service. These facilities will be needed to accommodate your customers and visitors and should be in compliance with food safety, environmental and zoning laws.

Ultimately, you will need a business that is self-sustaining and generates a steady income. This means you must have enough off-farm revenue to cover your expenses and save for your future business.