Managing Farm Finances

My past few posts have touched upon new technologies for asset management on the farm, the Hutchinson Leader of Hutchinson, Minnesota has a good article about farming finances about keeping a one year pad of finances in a liquid form (cash) or easy to convert into liquid to balance out the lean times with the strong times.  Investments in technology I have talked about (e.g. GPS livestock tracking to a greater smart farm, UAV Orthos, & LiDAR scanning) require investment which reduces the liquid financial stances of many farmers.  The growth in technology will need clear reduced management costs to break even and then raise the liquid stances so that extra funding is available in future years.

As I mentioned in past posts, getting farmers together through Co-ops to split costs and share technology will be a affordable way to get the technology into the fields (UAV technology not before September 2015 in the USA).  As the costs of technology drops then it will be more affordable for farmers to afford them.  It can also include GIS/Geomatics software companies bundling to groups for licensing costs and training like Hexagon Geospatial is doing with their Power Portfolio.

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About Chuck Schoeneberger

Former forecaster at Meridian Environmental Technologies Inc (now a Interis Company), with a background in GIS and LiDAR, with other stints at GeoSpatial Services of Winona, MN and Aerometric (Now Quantum Spatial) of Sheboygan, WI. He is a weather technologist for public storm safety from a local to international level. LinkedIn Profile: http://www.linkedin.com/profile/view?id=25048141&trk=tab_pro His views are his own and not of his employer.
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