Traders Hill Farm’s Financial Guide for CEA Growers
For small-scale growers launching a farm, the learning curves can be daunting. Most growers come into the industry expecting some trial and error as they learn the ropes of successful commercial growing. But fewer farmers are prepared to tackle all the elements it takes to manage a small growing operation’s finances effectively.
Fortunately, the CEA industry has people and businesses willing to share the knowledge they’ve acquired to help shorten the learning curves for others. When COVID-19 shutdowns hit during peak harvest in March 2020, Florida-based aquaponic lettuce grower Traders Hill Farm (THF) put its downtime to good use on just such as project.
THF President and General Manager Tracy Nazzaro shared, “During COVID, I had a little bit more time on my hands because I’m head of sales, and all my restaurants were closed and my schools closed, and I was really worried about staying in business.” Then a neighbor told her about USDA grant funding that was available.
With “nothing to lose,” Nazzaro said Traders Hill Farm wrote a grant and won a multifaceted grant for 2020 to 2024 through the USDA Local Food Promotion Program. One key deliverable for the USDA grant was financial education to help farmers avoid ever repeating what THF and others experienced at the time.
The first edition of this comprehensive resource, “Harvesting Insights: Navigating the Financial Landscape of Your Small Farm™,” is the result. Published in March 2024, this comprehensive small farm financial resource guide is available as a free download on the Traders Hill Farm website.
Developed with smaller and medium-size farmers in mind, the 26-page document covers everything from a quick guide to key financial terms and financial statements to Key Performance Indicators (KPIs), funding solutions and insurance. It also includes a Growth Toolbox, a lengthy list of essential resources for small farms.
Nazzaro shares that the plan is to update the document annually to provide ongoing financial resources and training to help small farm owners and operators succeed. “We worked really hard on that document,” she adds. “I’d be really happy to share it far and wide.”
You can read more about Traders Hill Farm and their approach to evaluating new technologies in the October 2024 edition of CEAg World Insights.