The Sheep Industry Business Innovation project focused on producing a more profitable and resilient sheep industry. This includes a focus on increasing business performance by improving farm business skills and increasing access to investment by increasing confidence and promoting alternative business models. Sheep Industry Business Innovation project has conducted a number of studies to help farmers better understand their costs and income base, and the costs and risks associated with adapting farming systems under increasingly variable operating conditions. This information is summarised below into three catorgies, farm systems, investment and farm business managment training:
Farm systems
Economic research and analysis on components of the sheep enterprise that impact on farming systems are analysised in the below reports:
- Crop v sheep and sheep enterprise type - Comparative analysis of Gross Margins for grain and sheep enterprises in the central and high rain fall regions of the WA wheatbelt 2016
- Enterprise size - Opportunities for producers to expand their sheep enterprise
- Time of marketing - Out of season lamb price signals
Investment
Economic research and analysis on investing in the sheep enterprise are discussed in the following reports
- The cost of getting back into sheep
- Sheep industry business models
- Prices, patterns and profitability of feedlots: Investor-ready sheep feedlot report
Farm business management training
The Sheep Industry Business Innovation project will be developing training resources on farm business management complementing the resources outlined below:
- Targeted training to improve business management provided via the department
- Business improvement toolbox – articles and templates on continuous improvement including gross margin analysis drom the department
Additional information is avaiable from the Grains Research and Development Corporation including farm the business management manual, managment fact sheets and a farm gross margin and enterprise planning guide including a spreadsheet for livestock.