Agriculture is in an era of increasing financial stress and volatility. Developing a business plan can help producers navigate this financial environment. Since 2007, nearly 60,000 business plans have been initiated using AgPlan. However, AgPlan users have reported that the financial planning tools available in AgPlan have been the weakest part of this program. In the current financial environment, strengthening AgPlan’s financial section has helped many producers address financial risks facing their businesses.
This project developed a new financial planning tool that was embedded in AgPlan along with detailed instructional tutorials on how to use this financial tool.
These new financial tools have increased the financial risk management capabilities for many producers, helping them adapt to changing market conditions by giving them financial tools to plan for changes. The tool has been downloaded over 2,500 times during the project with 429 users implementing their financial statements into their business plans.