Farm Plan
A farm plan is a document drawn up in an effort to make a farming business more profitable, in the long term.
Increased profitability is principally achieved by;
1. Establishing a clear direction for the business to follow.
2. Establishing a basis for evaluating enterprise performance.
3. Anticipating problems and planning ways of eliminating them.
4. Allocating the available resources more efficiently
5. Provides a flexible management framework to facilitate quick responses to changed conditions or unplanned events.
An existing farm enterprise can be made more efficient and more profitable by good farm planning, and an increase in scale is not always required in order to make more profit. Completing a Profit Monitor is usually the easiest way devise an accurate farm plan.
In addition SWOT Analysis of the farming enterprise can be carried out in order to make the business more efficient.
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