Take a look at some of the KCARD staff's favorite holiday recipes - such as Logan’s pumpkin roll! And don't forget to give the gift of local this holiday season.
Check out some favorite holiday recipes from the KCARD staff! Remember to also give the gift of local this holiday season.
Farming is a risky business with significant costs, and one of the most expensive mistakes is failing to plan or oversimplifying the transition of the farm. At its core, successful transition planning boils down to clear, honest communication and planning ahead. When communicating across generations, consider addressing key issues early to build mutual understanding and ensure a smoother transition.
A well-hosted class or workshop can be one of the more profitable (and fun!) ways to engage visitors on your farm and offer agritourism opportunities. However, they can be quite labor-intensive and require lots of planning and thoughtfulness. Check out these tips to get you started!
KCARD works specifically with farmers markets on a wide range of topics, including where to find funding, how to structure the market, and how to think of the farmers market as a business entity. In this post, Terryn Varney, KCARD Business Development Specialist who specializes in farmers market assistance, answers questions about how and when KCARD can help your farmers market.
It is important to understand the cash flow needs of your business and the potential threat of not having enough cash on hand. One of the most common challenges we see in businesses with whom we work is cash management.
When working with clients, KCARD often starts by looking at a current income statement (also called a Profit/Loss statement) that is in operation and helps develop a projected income statement for a new or expanded operation. This helps to show if the business is profitable now or will be profitable in the future. However, the cash flow statement is critical to understanding whether the business will be able to survive the initial startup stage or any downturns. This statement shows inflows and outflows of cash to or from the business. So what’s the difference between the two and how they are used?
If you ask any KCARD employee where they turn to first in a business plan they receive, there’s a good chance that – after reading the summary of what the business is wanting to do – the profit/loss statement will be the first page reviewed. We will start looking at how revenue was calculated and whether the expense lines show everything that we expect to see in that particular business. In the next few weeks, we will be going into more detail on how to develop financial projections, stay tuned.
Question: How do I manage cash flow when I’m concerned about the effect of reduced travel/walk-in traffic on my business?
Answer: The next two weeks and the next two months are going to be critical for many small businesses as we all figure out what the eventual impact will be. Click to read about a few rules of thumb for businesses.
The Kentucky Center for Agriculture and Rural Development is a non-profit organization established to facilitate agricultural and rural businesses in Kentucky. We are supported primarily through grants provided by the USDA Rural Cooperative Development Program and the Kentucky Agricultural Development Board. Additional support is provided through our work with partners around the state and through fees charged for select client services.
