Risks, Strategies and Resources for Small Scale

Transcript:Risks, Strategies and Resources for Small Scale:
Risks, Strategies and Resources for Small Scale Producers OCES & OKSBDC Partnership Risk Management Understanding the nature of risk Selecting appropriate strategies to reduce risk Areas of Risk Management Production Marketing Financial Legal Labor/Human Production Risk Challenge Affects both quantity and quality of production Caused by weather, pests, diseases, etc. Mitigation Strategies Enterprise Diversification Season extension Insurance Help producers to make a farm plan Help producers to do costs and returns analysis of various mitigation strategies Marketing Risk Marketing Challenges Difficulty to access market Fluctuating product demand Limited infrastructure Mitigation Strategies Access to variety of markets/customers Use of contracts Adding value We help producers to develop a marketing plan, connect with alternative market infrastructure Provide producers with the tools, techniques & resources needed to help increase sales Financial Risk Common challenges Cost and availability of financing options i.e Capital and operating Cost of input expenses Record keeping Managing Risk Understand loaning requirements Keeping and using records Undertake finance risk assessment often We help producers to prepare the loan application package We offer business start 101 training workshops/field Legal Risk Challenges Legal disputes Major sources of disputes Labor issues Market contracts Food safety issues Mitigation Strategies Farm liability and product liability insurance Knowledge and compliance to food laws for inspection, quality and handling Provide producers resources like fact sheets, referrals to experts on specific issues. We assist producers to develop food safety plans to be used at the farm. Human/Labor Risk Challenges Worker safety Shortage of skilled labor Setting goals Mitigation Strategies Compensation insurance Offer effective training Set clear goals and talk about them We help producers develop farm goals. Help producers develop a training plan for new workers/help. We assist producers to establish farm food safety plans. Working with Local OCES Opportunities Can meet clients at local county offices Client meetings by appointment – 2 hour sessions Follow up client meetings are possible Services Group workshops Confidential client meetings Multiple clients per day Promote County services Consultation for all Sign up for free, confidential consulting at www.oksbdc.org Register tab Select OSU Extension Services as your center. Questions James Arati Tel: 405 321 4774 Jarati@okstate.edu