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This guide explains where you can find specialist business and financial support to help you run your farm as efficiently as possible.There is also information on business and financial planning tools available to you, as well as information on the standards and schemes that you must comply with.Download the Department for Environment, Food and Rural Affairs’ ( publishes a range of guides to help you get started in farm management accounting.
A good business plan gives credibility to your farm, and to your skills as a farm owner or manager.
Even if you do not intend to make any changes to your farm, you should still write a business plan.
A good farm business plan can highlight weaknesses in how you plan and run your farm, which can provide helpful insight for later improvements.
Before writing a business plan, it is advisable to thoroughly research the sectors that you are currently working in - or plan to work in - including any future economic prospects for these sectors.
The operations plan is a description of the farm itself, and how it is run.
It can include details about: It may also be useful to prepare an executive summary - a synopsis of key points from your entire plan and a short description of your business opportunity - for presenting to third parties such as your bank, potential investors or suppliers.When adapting your existing farm business plan, you should think about: Once you have finalised the changes to your business plan, you should then test whether the plan is possible.You can then work out whether you have enough resources, you can meet the demands, and whether your new plan is realistic.This booklet is an important first step in helping you to understand what your accounts tell you about your farm’s viability, and how to make better use of that information.In order to be viable, your farm needs to generate enough income to cover: ’s booklet shows you how to use your profit-and-loss account and balance sheets to assess the viability of your business.There are several steps to this process: You should try to write down as much information as possible as this will help you to develop your plan and share your ideas with others.At each stage, take time to ensure you have included every possibility.Working through the guide will help you to understand your business more clearly and will equip you to deal more effectively with your bank, accountant and farming business consultant.This practical guide looks at: ’s guide ‘Management accounting for farmers – Converting the farm’s financial accounts into management accounts: a practical guide’ (PDF, 379K).Even if your current farm business plan is successful, you should always consider reviewing it for possible growth opportunities and improvements to farming operations.For more information on growth opportunities and changing farming operations, see the guides on ideas and funding for diversification and ideas and funding for diversification.