Dollars & Sense Study Update
Feb 26, 2020


Farm Management Canada is seeking input from farming operations in relation to their Dollars and Sense study. See communication originating from Farm Management Canada below.

While we realize most farmers didn't get into farming to be business managers, we know farm business management matters.

A ground-breaking 2015 study titled Dollars and Sense revealed the success of any farm enterprise, regardless of size, production sector, or location is directly related to the business management practices of the farm manager, and concluded farmers who adopt business management practices can improve their profitability by up to 525%.

However, the adoption of farm business management practices was remarkably low. Less than a quarter of farms (of any type) having a written plan of any type (i.e. business, transition, human resource management, financial, marketing, risk, etc.).

It has been 5 years since the first Dollars and Sense study. Now in 2020, we want to take a deeper dive into understanding the barriers and drivers of adopting farm business management practices on Canada's farms, and how we can help.

Specifically, we are seeking to better understand:

• Has the "dial been moved" in adoption of these business management activities?
• Why do farms adopt and implement some business management activities, but not others?
• What are they key barriers to implementation?
• What are the key drivers of implementation?
• How can industry and government best help farmers overcome the barriers and increase implementation of business management practices on farms?
A national study allows comparisons between demographics to understand unique needs and opportunities for various farming populations.

Working with Kynetec Market Agricultural Research Company, a telephone survey has been conducted with 600 farmers from across Canada. Our sincere thanks to the 600 producers who have already participated in the study.

In cooperation with the Provincial and Territories Ministries of Agriculture, Farm Management Canada is seeking to further increase the reach and impact of the results by maximizing its sample size across regions, production sectors and producer demographics.

An online survey is now available to increase survey participation and target specific demographics within specific regions.

The survey should take no more than 25 minutes.

Everyone who completes the survey will be entered into a draw to win 2 free registrations to our Agricultural Excellence Conference taking place in Canmore, Alberta in November 2020.
You will also receive a copy of the study results.

Please share the following link to our online survey with your contact list:

The survey is set to close March 31, 2020.
Please share our request with ample time to maximize producer response.

With our thanks in advance, please feel free to contact us with any questions or concerns.

Farm Management Canada

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