FCC Planning Awards Granted

SASKATOON - May 26/04 - SNS -- Eight University of Saskatchewan graduates won this year's Farm Credit Canada Business Planning Awards.

The team of Kyle Blake of Saskatoon, Jason Brick of Sedley, Brennan Coward of Hodgeville and Jessica Klassen from Herbert picked up first place and an award of $4,000. Second place and a prize of $2,000 went to the team of Chet Dykshoorn of Foremost, Alta., Jan van Haastert of Tisdale, Michael J. Ardell from Vanscoy and Chad Doerksen from Dalmeny. The awards were presented at a ceremony at the University on May 26, 2004.

The program challenges students in the final year of their agricultural diploma program to work with experienced farm operators to develop real-life business plans. The highest quality plans from each of the 11 participating schools across Canada are chosen for awards. They win a share of $67,000 in FCC prize money.

"Farm Credit Canada is committed to the future of the agricultural industry. We know that close to 120,000 Canadian farmers will turn 65 in the next decade, and some $50 billion in farm assets will be transferred to the next generation," said FCC Saskatoon District Manager Larry Hayes. "We are supporting young people who will take over farm operations by encouraging them to develop the solid business management skills that are so critical to success in today's industry."

"A business plan provides a blueprint for the future," adds Hayes. "It typically includes elements such as industry research, marketing and sales strategies, as well as financial, operational and human resources plans."

The U of S winning team created a five-year plan to build and operate a new crop input center in the southern part of Saskatchewan. The center would strive to provide a more practical agronomic service along with the best crop input products available.

The second place team developed a plan for a consulting firm that assesses potential environmental impacts on farmsteads, with the primary focus to assist farmers in adding more value to their operations. The goal was to give farmers a better ability and an advantage in selling their products, their farms, and also be protected from liabilities when environmental concerns arise.

"The Business Planning Awards encourage students to work closely with a mentor, ask tough questions, and get some real-life experience," said Professor Tom Porter. "Being able to offer this prize money as an incentive encourages a healthy spirit of competition and innovation that will serve our students well throughout their careers in agriculture."

Participating schools across Canada include: McGill University (McDonald College), Nova Scotia Agricultural College, Assiniboine Community College, Lakeland College, Olds College, the Universities of Saskatchewan, Manitoba and Guelph, as well as the Institut de technologie agro-alimentaire in St-Hyacinthe and La Pocatiere, Quebec, and the University College of the Fraser Valley in British Columbia.

The program will be expanding in the coming year to degree-granting colleges of agriculture across Canada.