About the Agricultural Business Management program
Providing support for lower risks and higher profits
Managing the farm in an increasingly complex economy
Farmers are managing more dollars and more people. They are often their own accountants, business analysts, market and production specialists, and human resource departments. They face markets with narrow margins and a great deal of uncertainty.
University of Minnesota Extension's agricultural business management team offers education and support to farm decision makers on production, marketing, and financial management through classes and software tools. The team also tracks financial performance of Minnesota farms and provides farm management information to farmers, bankers, and others concerned with the future of Minnesota agriculture.
What we offer
Classes on grain marketing plans; economic analyses of new renewable energy opportunities; farm business benchmarking, planning, and income tax management; labor management; planning software and the FINBIN land value database; farm estate transfer and planning; long term care insurance; Farm Bill impacts; and risk management education for crop insurance providers.
Examples of our work:
- We created a farm transfer and estate planning curriculum that led to more than 95% of the participants stating that they would start a transfer and estate plan. This represents approximately $384 million in assets that will be protected.
- To help agricultural bankers and lenders work with farmers, we developed the FINPACK financial planning software which is now used in 200 locations in Minnesota. We also hold workshops and lenders conferences to share the latest financial and management trends.