Computer course teaches business end of farming

A Rowan County sister and brother — Cobey and Bryan Abramowski of Rockwell — are taking part in an innovative program designed to educate young, beginning, small and minority farmers about successfully managing their operation.

The Farm Credit University Ag Biz Planner program teaches financial and management skills that provide a sound foundation for keeping their diverse operation growing.

Carolina Farm Credit, the financial farm cooperative serving 54 counties in the westernmost part of the state, is sponsoring eight participants and has teamed up with four other North Carolina and Virginia Farm Credit entities to sponsor the program.

The college-level, online course began late in 2011 and takes about six months to complete. In addition to budgeting and financial and management skills, the course emphasizes how to capitalize on and navigate the challenges in agribusiness.

By the end of the course, every participant will design a strategic business plan for their own business. The brother/sister team and their father, Tom, own the C&B greenhouse operation, now ranked as the 56th largest in the nation.

“This group of farmers faces unique challenges and is important to the future of agriculture and rural communities. Running a successful agricultural operation is hard work and the challenges are considerable. But by the end of the program, these farmers are equipped with the skills to keep their operation moving forward for the long term,” says Dr. David Kohl, a retired Virginia Tech agricultural finance and business management expert and creator of the program.

In its third year, the on-demand, 10-module computer course was designed for Farm Credit institutions. In addition to the online course, each participant has a close mentoring relationship with a loan officer from Carolina Farm Credit. James L. Taylor, Jr., a senior relationship manager working out of the Salisbury Service Center of Carolina Farm Credit, is mentoring the Abramowskis as they work through the course.

“The financial paperwork and documentation required to secure credit and run a fiscally-responsible operation can be overwhelming. This course prepares individuals to apply for the right kind of loans to fund their operation, replace equipment, or expand the business,” says Mike Morton, CEO of Carolina Farm Credit.

Carolina Farm Credit is a stockholder-owned cooperative providing short, intermediate, and long-term financing to full and part-time farmers and agricultural-related businesses and also provides financing for the construction and purchase of homes in North Carolina’s westernmost 54 counties through 36 service centers. Other financial services available are credit life insurance, crop insurance, appraisal services, leasing programs and financial planning. Carolina Farm Credit serves over 8,900 members with loans outstanding totaling more than $1.28 billion.