an income and expenses statement for the previous two years and other information related to the business.

Action plan: Following the Farm Financial Assessment, producers will have access to two days’ worth of consultation services to help them assess their options for increasing profitability. This service will result in a financial plan (including cash-flow plan), projections of options and a written report.

The cost of services is valued at $2,000. The producer pays a nominal fee of $100.

Note
The $100 fee will be waived for eligible applicants of the Canadian Farm Families Options Program.

Follow-up: A will follow up with producers who use CFBAS-FBA to discuss how they are progressing with their plan and to offer further advice, if needed. There will be no cost for this service.

Specialized Business Planning Services (SBPS): This component of CFBAS offers assistance to producers to hire consultants who would help in preparing specialized plans needed for their farm businesses. These plans could be related to diversification, marketing, human resources, expansion, risk management or succession. Federal, provincial and territorial governments will pay 50 percent of the fees, up to a maximum of $8,000.Producers will be responsible for paying the balance.

Producers can use each component of CFBAS to its full extent once in the five-year period of the program, which ends in March 2008.

Eligibility:

Please note that program delivery will vary by province or territory.

You are eligible to participate if:

* as an established producer, you have a minimum of $10,000 in annual gross farm sales; or
* as the owner/operator of a new farm business (someone who will establish a farm or has been operating a farm for less than six years), you can demonstrate that you will have $10,000 in annual gross sales.

Note
Groups are eligible to apply for CFBAS funding. A “group application” refers to one application made under CFBAS by two or more individuals or entities. Each person or entity in the group must represent a distinct or separate farming business or operation.

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