Western Australian premium food producers looking to stage their product for luxury domestic and international markets are encouraged to participate in a series of free workshops to help build local food businesses.
The Department of Agriculture and Food, Western Australia’s (DAFWA) Food Industry Innovation project is offering three business training workshops to help food businesses expand and develop strategies to manage the challenges of running a business.
Food producers can register to attend any or all of the modules encompassing strategic planning (30 May), financial management (6 June) and sales & marketing (13 June).
The workshops will be delivered by professional WA facilitators with experience in regional business development. Lunch will be provided.
The financial management workshop will provide an understanding of business performance and what can be done to improve it. Regardless of the business rationale, it should provide income to support the owners’ lifestyle.
Participants will ask the questions:
• Are you achieving the lifestyle you want?
• How do you know if you are running a successful business?
• How do you evaluate the performance of your business?
The workshop aims to help participants measure business performance and evaluate its strength.
Participants will self-assess key financial indicators and draft strategies and tactics to ensure financial risks and opportunities are planned for and managed.
This includes:
• components of profit
• using benchmarks
• using profit and loss statements
• calculating your profit ratios
• valuing your business
• cash flow budget forecasting
• using balance sheets
• debt to equity ratio
For more information about the workshops contact Kaylene Parker, Food Industry Innovation project officer:
p:+61(0)413 856 515 or +61(0)8 9892 8444
e:kaylene.parker@agric.wa.gov.au
Register online at: agric.smartygrants.com.au/PPP_oneday