August 3, 2005 | By: Aimee Nielson
LEXINGTON, Ky.

The University of Kentucky College of Agriculture will host two risk management and financial analysis workshops for nursery and greenhouse growers Aug. 31 in Princeton and Sept. 1 in Bardstown. The workshops are part of the U.S. Department of Agriculture’s Risk Management Agency Risk Management and Crop Insurance Education Commodity Partnership Program.

Retired UK Horticulture Extension Specialist Robert McNiel said that farms are at risk as they make capital and variable investments to establish an enterprise and attempt to recoup those investments. 

“Problems may occur with markets, with insurance for losses, with the size or scope of business, etc.,” he said.

The one-day workshops will address risks facing nursery firms, offer an assessment of risk management skills and offer a financial strengths quiz.

”Participants will be able to analyze their inputs to the business plan in a more meaningful manner,” McNiel said. “Data will be available to help each firm compare their business to others of similar size. Knowing where you are in relationship to industry ‘norms’ will allow you to alter your strategies and reduce your financial risk.”

Workshop sessions include general risk management principles and concepts, business and financial management tools, crop insurance and computer-based tools for horticulture business analysis.

The Aug. 31 workshop will be at the UK Research and Education Center at Princeton. The Sept. 1 workshop will be at the Adult Learning Center in Bardstown. Both will begin at 9 a.m. local time and adjourn at 4:15 p.m.

Registration is $20 and must be received by Aug. 25. Make checks payable to the University of Kentucky and send to Robert McNiel, Department of Horticulture, N-318 Ag Science North, University of Kentucky, Lexington, KY 40546-0091. Be sure to indicate the workshop location choice with payment because space is limited at each site. Contact McNiel for more information at (859) 257-8903.

 

Contact: 

Writer: Aimee Nielson 859-257-4736, ext. 267

Contact: Robert McNiel 859-257-8903