Farm management Financial planning, analysis and control

Up until now the management of a farm was based mostly on empirical knowledge passed on from generation to generation. However, the modern farmer is being confronted with almost insurmountable problems: rising costs, lower product prices, escalating interest rates on the purchase of farming land, and labour unrest, to name but a few. Add to these the perennial droughts which are the scourge of Southern Africa, and the picture looks bleak indeed. These factors are forcing farmers to optimally develop their business acumen and managerial skills in order to manage their farming enterprises as economically as possible.