North West Local Land Services (NWLLS) have partnered with Rabobank to host a free webinar to all local landholders on Thursday, September 3.
Attendees will be given a better understanding of how to effectively use a cash flow budget and the reasons behind them. A cash flow budget is mainly used to assess a business's liquidity position for the next 12 months.
The online event will feature two guest presenters from the Tamworth Rabobank branch, Tom Capel, Branch Manager and Denevan Ellis, Senior Account Manager. These two will discuss parts of the farm's profitability within but it is not the key reason to complete a cash flow.
With over 40 years of banking experience between them, and a first-hand connection to Australian agriculture through their own family farming enterprises, both Tom and Denevan will share how to best position your agribusiness by presenting on the reasons, uses and limitations of completing a cash flow budget.
Attributing the recent drought years as the corner stone for a broad uptake in upskilling in business acumen, branch manager and guest speaker Mr Tom Capel says, "many farming operations were forced to increase their borrowing capacity to fund their farming businesses throughout the drought.
"Our presentation aims to deliver a comprehensive overview of how to understand your business income and expenses and assist attendees to effectively utilise their cash flow tool.
"We aim for all webinar attendees to take away the skills to professionally estimate the timing of future income and expenses, allowing them to have the correct information to surmise the underlying profitability of their operations," he said.
North West Local Land Services Livestock Officer Kate McCarthy, says "this time we have shifted the focus from livestock breeding and management topics to financial skills and their added benefits to the farm business. We look forward to welcoming our guest speakers and interested participants online."
To secure your virtual seat for the Thursday, September 3 webinar, register here.
Following the success of the expert webinar series, NWLLS are continuing to offer a succession of virtual events. Throughout winter, LLS Officers have fortnightly Q&A Smoko Session's scheduled as Live Facebook broadcast events, covering relevant seasonal topics and sharing of resources to interested landholders.