Short Term

Short-term farm business planning

Short term planning is the process of setting smaller, immediate milestones to achieve within a shorter time frame when working towards an overall goal. Many business owners will engage in short term planning that typically has less than 'one year goals' of in order to assist their company in moving gradually toward its longer term goals.
Many farmers tend to plan well for the short-term, and planning budgets and forecasting cash flow for the next six to 12 months is an essential part of good business management. Short-term financial planning centres around how to manage the gaps where income and expenditure are not balanced and extra short-term finance will be needed.