Success StoryFarm Business Basics
Farm Business Basics
Author: Ashley Norton
Planning Unit: Hardin County CES
Major Program: Farm Management, Economics and Policy
Plan of Work: Agricultural Diversification and Marketing
Outcome: Initial Outcome
The sustainability of family farms and proper management of agricultural land were identified as top priorities in the Hardin County Extension needs assessment. Many local producers, particularly beginning farmers or those transitioning farms across generations, lack the knowledge or tools to effectively manage farm finances, navigate business structures, or utilize available agricultural support resources. Recognizing this need, the Hardin County Cooperative Extension Service launched the Farm Business Basics series—an educational effort focused on building foundational knowledge in farm business operations, finance, and resource access. The series consisted of three evening sessions held at the Hardin County Extension Office on November 14, December 3, and December 12, 2024. Each session featured expert speakers, including Dr. Jonathan Shepherd, UK Farm Management Specialist, who covered topics such as taxes, business structures, and farm finance, and Dr. Jordan Shockley from the UK Department of Agricultural Economics, who focused on decision-making strategies for improved farm management. Representatives from local agricultural agencies including the Cooperative Extension Service, Farm Service Agency, Conservation District, and NRCS also participated, sharing essential resources and services available to local producers. The program was promoted through social media, flyers, direct contact, and Extension newsletters. The target audience included farm families, new and established farmers, and agricultural landowners—all connected by their need to strengthen the financial and managerial stability of their farm operations. A total of 60 participants attended the series, with many choosing to attend more than one session. The program’s collaborative design maximized educational impact and built cross-agency relationships to better serve attendees. As a result of the sessions, participants reported improved understanding of key farm business principles and increased confidence in making financial and structural decisions for their farms. Initial outcomes included increased awareness of business planning and available resources. Intermediate outcomes were demonstrated through participant intentions to adopt more formalized business structures or seek financial guidance.
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