FARMING Connect is hosting a series of financial management surgeries to help farmers and foresters evaluate how their business is performing, identify areas for improvement and discuss plans for the future.
The financial management surgeries will provide individuals registered with Farming Connect with a fully-funded hour-long confidential appointment with an experienced financial advisor to evaluate current performance, discuss financial opportunities and look at ways to strengthen the business, such as through more efficient ways of banking, investing or through various pension schemes. Farming Connect is funded by the European Agricultural Fund for Rural Development and the Welsh Government.
“The biggest advantage of attending a surgery is the opportunity to meet with an advisor who has experience working with all types of agricultural businesses, and may be able to provide fresh ideas to strengthen the business viability and giving a new outlook on investment opportunities open to businesses,” says Lois Evans, Surgeries Officer with Farming Connect.
As well as gaining an overview of the current financial situation and using accounts to see potential financial avenues, the advisor will also help identify areas for improvement and discuss any future plans to strengthen the viability of the business. The financial advisor would be able to advise on options for future investments, off-farm investments, pension schemes, banking strategies and cashflows and budgeting.
“Attending this surgery is a good way to identify potential investments and savings for businesses, which is a very useful to help you understand where your business is heading, plan ahead for any future challenges and strengthen its resilience,” she added.
“This is an opportunity for you to ensure your finances are arranged tax efficiently and are in-line with your business objectives”
Farmers are encouraged to bring information to the surgeries which offers an insight into their business, such as three years of financial accounts and any details of investments and pensions if relevant
he surgeries will be held across four areas, in Wrexham on the 23/01/18, in Bangor and St Clears on the 24/01/18 and inBrecon on the 31/01/18. The location of the surgery will be confirmed when booking.