Cut Waste, Save Money: How to Create a Sustainable Farm Business
Whether you run a complex farm business or just tackle agriculture as a hobby, there are many ways to reap the benefits of sustainable farming. Here are some actionable tips to make your farm more sustainable, less wasteful, and less expensive.
Practicing sustainable agricultural methods ensures that your land, resources, and finances will be available and in good condition for generations to come.
Sustainable farming starts by protecting and building your soil. Planting cover crops and applying organic matter can both be ways of ensuring the health and longevity of your soil.
Next, protect your water. Water is one of the most important resources for your farm, so work with your local community, state, federal government, and grower organizations to ensure a healthy water supply for the future.
Finally, protect native plants, animals, insects, and microbial life on your farm. Understanding the integrated ecosystem of pollinators, microbial life, earthworms, and insects in your soil will help ensure healthy crops and habitats in the future.
Another tenant of sustainable farming is financial management. You can create a more profitable business by trimming expenses and stretching your dollar further.
Consider consolidating seed purchases. Buying more from fewer suppliers allows you to maximize discounts. Work with suppliers to find the options that create the most value for your farm.
Know your numbers. Optimizing your balance sheet can reduce your debt burden and allow you to create a lasting partnership with your banker.
Finally, request quotes early for all farm inputs. Work with your suppliers professionally to find the best value instead of the best price. In the farming world, often the service received with the purchase of a product is the most valuable. By being proactive with requests and working with your suppliers and bankers, you can cut expenses and build lasting business relationships.
Insurance is essential to your sustainable farm. Farm insurance can protect your commercial structures, livestock, equipment, and, in turn, your profits. An expert farm insurance agent can recommend the best products for you from product liability insurance to equipment breakdown coverage.
As your farm grows, it’s also important to adjust your coverage. Reassessing your insurance needs may take time, but protecting your sustainable farm is always worth it in the long run.