Tarleton hosting ag workshop in El Campo

FOR IMMEDIATE RELEASE
Aug. 20, 2009

STEPHENVILLE, TEXAS—Many Texas farmers, ranchers and agribusiness professionals are finding creative ways to diversify their operations as a supplement to traditional agriculture.

In an effort to address questions associated with farm and ranch diversification, Tarleton State University and Texas AgriLife Extension Service is holding a workshop in El Campo, Texas, on Sept. 10. The workshop will be held at the Wharton County Electric Co-op Edison Room with registration beginning at 8 a.m. The first session will begin at 8:25 a.m. and sessions will conclude by 4 p.m.

The workshop titled “Increasing Profits and Managing Risks in Rural Ag Businesses” will feature a series of discussion topics that include agricultural diversification, rural entrepreneurship, online promotion, value-added activities and addition of new products.

The workshop is geared toward agricultural producers considering diversifying or expanding their businesses, as well as other new/existing businesses. Much of the content and discussions will be applicable to all of those interests.

Examples of diversification include dairy farmers who develop and sell cheese products, ranchers who establish wild game hunting operations or grow and market grass-fed beef or small landowners who plant and harvest seasonal crops such as Christmas trees.

An example closer to home is local entrepreneur Michael Maraggie. Maraggie is the owner of South Texas Milling and is innovative in growing, processing and marketing corn.

“Those starting new businesses may not anticipate many risks ahead or fully understand how to prevent risks,” said Dr. Ashley Lovell, one of the speakers who will be featured at the workshops with the AgriLife Extension. “The workshops will focus on success through risk management practices.”

Participants will engage in general presentations, breakout sessions and a roundtable session to identify profitable ventures and risks. After the final session, informal concurrent sessions or one-on-one discussions will be available. Participants can bring copies of business plans, loan applications, health insurance tax reporting forms and other appropriate information.

The workshop is designed to:

• Improve understanding of business planning, including:
• Financial risk management, including how to best manage debt, interest rates, credit constraints and cash flow statements.
• Legal risk management, including business structure, licensing and contracts, liability and environmental regulations and state and federal tax considerations.
• Human and personal risk management, including managing labor, business continuity planning and the consequences of disability and estate planning.
• Identify ways to diversify local economy and increase employment.
• Help rural Texans develop new businesses and grow existing ones.
• Provide technical support for rural entrepreneurs.
• Create support networks for rural business owners.

The workshop is the result of a grant awarded to Tarleton from the U.S. Department of Agriculture (USDA). In addition to Tarleton and AgriLife Extension, project partners include Ag Texas Farm Credit Services and Tri-County Agribusiness Association in Stephenville, Innovative Capital Solutions in Early and the Texas Department of Agriculture.

Grant sponsors include the USDA’s Cooperative State Research, Education and Extension Service and the Southern Region Risk Management Education Center.

For additional details regarding the workshop or to register, contact your county extension agent or go to http://agecoext.tamu.edu/resources/workshops.html. Or Dr. Lovell can be contacted at lovell@tarleton.edu or (254) 968-1984.

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