Category Archives: Getting Started in Ag

Getting Started In Ag: Dealing With Inflation and Supply Chain Disruptions

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OPERATORS just starting out in agriculture may be unaware of the many ways inflation can sap the profitability of a business, how to properly quantify its effects or strategies for dealing with it.

The Covid-19 pandemic has caused many disruptions, one of the more serious may be inflation. Virtually everyone involved in production agriculture is dealing with the effects of inflation at present. In addition, indications are that it may be with us for a considerable time. Supply chain disruptions and inflation are often interconnected. For example, manufacturing disruptions that have come about due to Covid or other issues, have reduced supply and led to increasing prices.

Getting Started in Ag: Which Business Structure is Best?

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The Risk Concepts series offers information on each of the most common forms of business organization.

THERE ARE MANY ASPECTS to consider when establishing a new agricultural business: ownership, taxes, liability, and estate planning concerns should all be carefully studied when deciding on a business structure. Putting in considerable time to plan and consult with trusted advisors will go a long way towards achieving long term goals and stability. There are many alternative forms of business structure to think about.

Risk Concepts is a series of publications compiled by the RightRisk team and made available at: RightRisk.org. The series offers a separate, 4-page bulletin covering each of the most common forms of business organization. A summary chart compares and contrasts the alternatives to provide an overview of the choices involved.

Negotiation in Agriculture: A Resource for Wyoming Producers

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Negotiation is an often-overlooked aspect of production agriculture.

MANY PRODUCERS may not realize just how much time and effort goes into negotiating the various relationships in their businesses. Negotiation is part of just about any aspect of working with people on a farm or ranch. We often tend to shy away from thinking much about negotiation, especially if conflict is involved. Commercial agriculture producers, whether new/beginning, those switching from another business, or armed service veterans looking for a new start in a farm or ranch, should be aware of just how important negotiation skills are to their business.