September 21, 2000 | By: Haven Miller
LEXINGTON, KY.

A new publication from the University of Kentucky's Cooperative Extension Service is designed to help you select a profitable agricultural enterprise.

Titled "A PRIMER for Selecting New Enterprises for Your Farm," the publication takes you through a series of questions that will give you insights into Profitability, Resources, Information, Marketing, Enthusiasm, and Risk (PRIMER). The enterprise might be crops, livestock, tourism, a value-added activity, or any number of different profit-making possibilities.

"The PRIMER won't give you all the answers to all your questions, but it will give you the information you need to ask the right questions about whether or not to go ahead," said Steve Isaacs, Extension farm management specialist in the UK College of Agriculture.

Isaacs said many of the questions are detailed, especially those about developing a budget and marketing plan. Questions may require you to look up certain statistics, such as weather data or price ranges. Worksheets help you analyze the potential enterprise in terms of feasibility and setting realistic goals. In some instances you may want to get additional information from your county Extension agent.

"Generally someone should be able to pick this up and answer most of the questions, but for those that require digging a little deeper for we encourage them to talk to their local agent," Isaacs said.

Because Kentucky producers are making important decisions right now, Isaacs said an emphasis was placed on getting the publication out to producers quickly.

"As folks begin developing proposals for their tobacco Phase I enterprises, this publication could be very helpful," said Isaacs. "The PRIMER won't guarantee profitability, but it will help them look at cash flow and risk, and help them determine if they want to proceed with the enterprise or stop right there."

The primer, developed by Isaacs and UK agricultural economist Tim Woods, is available from your county Cooperative Extension Service, or online at UK's agricultural economics department web page at http://www.uky.edu/ Agriculture/AgriculturalEconomics/ extpubs.html. Look for publication number 2000 - 13 under Department Extension Publications.

Contact: 

Steve Isaacs 859-257-7255