The Bottom Line No. 7 (Link to Full Newsletter), June 19, 2024
In this issue: In this issue: Laura McDermott is retiring! FLSP grant awardees are announced, 3 farms in NYS received awards. More tasting room tips for success. Farm financial scorecard can help you monitor your farm’s financial health. FreshConnect CSA for SNAP. Certifying as a woman or minority-owned business in NYS. Free technical assistance is available for government procurement (local state and federal). Upcoming programs.
News
USDA Announces Farms Selected for Farm Labor Stabilization and Protection Pilot Program
On June 14, USDA announced the names of the 141 applications that received funding from the Farm Labor Stabilization and Protection Pilot Program (FLSP). Three farms in New York received funding under this program to support housing improvement and expansion, worker training and improved worker pay and benefits.
Research
Too much of a good thing? Simplifying your tasting room information could increase sales.
A 2012 study by the Dyson School looked at how descriptions on tasting sheets influenced wine sales in tasting rooms. The study, which included 9 wineries in central New York, used two versions of tasting sheets, alternating them by weekend. One included sensory descriptors (Tasting Notes) and the other did not. At the end of each weekend tasting room managers compiled information on daily wine bottle sales and dollar sales. The study controlled for other variables like the day of the weekend, festivals in the area, and the specific tasting room. Both bottle volume sales and dollar sales were higher on the weekends without the sensory descriptors on the tasting sheet.
Tool of the Week
Farm Financial Scorecard (Center for Farm Financial Management, University of Minnesota)
If you keep financial records for your farm business and can develop annual financial statements (balance sheet, income statement and statement of cash flow), why don’t you use that data to see how your farm is doing?
The Center for Farm Financial Management at the University of Minnesota has developed a Farm Financial Scorecard that you can complete annually to help you see trends in your farm business. The scorecard uses a set of financial ratios that help you translate your information into a value that you can use to assess your farm’s performance. Ratios also have the advantage of allowing you to benchmark your performance against other farms.
Funding Opportunities
FreshConnect CSA for SNAP Program – NYS Ag and Markets
If you are a CSA farm that already accepts SNAP (food stamps) as a source of payment for weekly CSA shares, this grant should be of interest to you. If you do not currently participate in this program, you will need to partner with a non-profit or local government to be the applicant. Your local CCE office, your county department of health, a local food pantry or other non-profits are all possible partners for this grant. Here is the information about the program:
The Department invites eligible entities to apply for funds through the FreshConnect CSA for SNAP Grant Program, which will allow SNAP participants to access the popular Community Supported Agriculture model by partially subsidizing the cost of weekly share purchases.
Certifying as a Minority/Woman-Owned Business in NYS
If you are a minority/women-owned business in NYS you should consider going through the process to be certified. Advantages to certification include preferences in government contracting, including as sub-contrahttps://esd.ny.gov/doing-business-ny/mwbectors to a larger contracts. There are also sometimes preferences in grants, and more favorable loan terms. To become certified as a minority/women-owned business follow the link.
This is the link to the US Small Business Administration page with links for federal certification and assistance to many types of small businesses (women owned, Native-American, veteran, rural etc…). Like the state, the federal government also has set-aside programs for federal contracts and programs to support certified businesses that are small, women owned, minority owned, etc…