Setting up for 2013, Resources and Capital

Plan for 2013, What? I can already hear the murmurs…..we’ve only had light frosts so far and we are still selling lot’s of product. It’s too soon to be setting up for 2013.

Well think again, even just for a few minutes, about the great ideas you want to implement in 2013. When do you need the resources in place for those projects? Consider if you have the time and capital in place at the right time to execute that project. Here are some items to consider:

  • Will your projects be more productive if they are ready to use first thing in the spring? Will they be easier or cheaper to complete in warm weather now? I’ve seen several greenhouse construction projects rushed through in the spring or not completed in time for the current season.There can be advantages to getting the bulk of construction completed by early winter.
  • Do you have your capital in place for investments? Securing loans and cash from various sources takes time. Get the process started this fall so that you have ample time for purchases and set-up in the spring. Prepare your loan applications sooner rather than later.
  • Check status of suppliers and back orders. You probably know exactly what new piece of equipment you want for 2013. Call now and inquire if the unit is subject to back-orders and prepare for the possibility that final delivery may be delayed.
  • Start to update records as the season is closing. Get the ball rolling on record keeping now so that is it easy to finish of your annual financial summary right around the new year. Getting a sense of finances now makes it easier to anticipate cash needs for 2013 in advance. Good planning can pay off….you may get discounts for pre-orders and you’ll have the peace of mind that you are in the drivers seat for 2013!

About Mark Cannella

Mark is a farm business management specialist with UVM Extension based in Berlin, VT. He specializes in business planning, farm financial analysis and agricultural economics.
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One Response to Setting up for 2013, Resources and Capital

  1. Perfect timing as you and I are scheduled to meet on the 12th.

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