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Contact Information

Craig Wood, Ph.D
Acting Associate Dean & Director
UK Cooperative Extension Service

S-107 Ag. Science Center North Lexington, KY 40546-0091

+1 (859) 257-4302

craig.wood@uky.edu

Impacts

Contact Information

Craig Wood, Ph.D
Acting Associate Dean & Director
UK Cooperative Extension Service

S-107 Ag. Science Center North Lexington, KY 40546-0091

+1 (859) 257-4302

craig.wood@uky.edu




Fiscal Year:
Jul 1, 2024 - Jun 30, 2025


Success StoryBusiness of Farming



Business of Farming

Author: Brandon Sears

Planning Unit: Madison County CES

Major Program: Farm Management, Economics and Policy

Plan of Work: Encourage and Promote Sustainable Agriculture Practices

Outcome: Initial Outcome

Madison County is one of the fastest growing counties in Kentucky. Several new residents are from out of state and some are purchasing a farm for the first time. As such, there are many things to learn about getting started with owning land or a farm. More than just production aspects, the business side of farming can be daunting. There is a need to educate both experienced and beginning farmers alike.

 

The Madison County Horticulture Agent and ANR Agent partnered on a series called “The Business of Farming”. This series was for current or future farmers and covered the business basics associated with farming. Since this series was not focused on production, the information applied to all types of farms and farmers.

The series had three sessions: Ag Lending and Local Resources, Insurance and Ag Taxes, and Farm Management/Decision Making Tools.

Survey results indicated that:

  1. 68% currently owned a farm. Interest varied among attendees. Of those that currently farmed, nearly two thirds raised livestock of some kind. The participants that were considering farming in the future were more equally spread between livestock production and horticulture crops.
  2. 96% had a better understanding of farm taxes.
  3. Only 10% said they currently had a business plan for their farm. Those that did not have a business plan in place said they were likely to use resources and information offered during the program to complete one.
  4. 75% of the participants indicated a willingness to use a farm financial scorecard to assess the farm’s financial health while 85% plan to use enterprise budgets to project profitability and manage costs.

An added benefit of this program was that several new programming ideas came from both discussions with the participants and their evaluations feedback.

 






Stories by Brandon Sears


Central Kentucky Hay Contest

Central Kentucky Hay Contest

about 5 days ago by Brandon Sears

Kentucky has long been known for our Bluegrass Pastures and green, rolling hills. We have an abundan... Read More


Hay Auction 2025

Hay Auction 2025

about 2 months ago by Brandon Sears

Madison County continues to rank in the top 3 in the state of Kentucky for hay with approximately 43... Read More


Stories by Madison County CES


Central Kentucky Hay Contest

Central Kentucky Hay Contest

about 5 days ago by Brandon Sears

Kentucky has long been known for our Bluegrass Pastures and green, rolling hills. We have an abundan... Read More


Emergency Disaster Preparedness Program-hosted with Bluegrass Area FCS Agents

Emergency Disaster Preparedness Program-hosted with Bluegrass Area FCS Agents

about 13 days ago by Jessica Hunley

Kentuckians have experienced firsthand how natural disasters can occur any time and often with littl... Read More