Riverine Plains Project and Finance officer, Kate Coffey, said the workshops are part of a series of events aiming to improve the access of young farmers to better business and agronomic information in the Riverine Plains region.
The program has been developed in partnership with Anna Dye, who farms with her family at Corowa, NSW, as well as working as a bookkeeper.
"In many family farming partnerships the younger generation are taking on greater roles within the farming business, although they may not have as much practical experience in the financial management side of things," Coffey said.
"Financial literacy is a really important part of successful farm businesses, so these workshops will help participants better understand what goes into preparing the key financial documents of a business, as well as legislation and regulation requirements," she said.
The workshops will cover farm business principles including paddock records and understanding financial statements, as well as how financial management can be made more efficient.
"Having good records is essential to understanding individual farm businesses and helps farmers develop effective plans to improve their profitability, so the workshops will also involve a run-through of different software options for recording financial and agronomic information," Coffey added.
The first workshop will be held from 1-5pm on Thursday 19 March at the Riverine Plains Inc Office, Melbourne St, Mulwala, NSW, while the second workshop will be held from 10:30am-4:30pm on Thursday March 26, 2020 at the Balldale Recreation Reserve. Registrations are essential by Monday 16 March, 2020.
This event is free and farmers aged 18-40 who are farming in NSW are invited to attend. No experience in financial management is required.
A bus tour is also being planned to show participants how a number of agricultural businesses have implemented business plans and strategies, as well as what drives the underlying profitability and risk of these enterprises.
The program of events is supported by NSW Department of Primary Industries through the Young Farmer Business Program.
For more information on how to be involved, please visit riverineplains.org.au