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Future Farmer Program 2003-2008

 

 

"Investing in the Future"

The Prince Edward Island Department of Agriculture, Fisheries and Aquaculture has announced that it will be investing in the future of the agriculture industry in the province through a new initiative, the Future Farmers program. The objective of this program is to promote the entry of new farmers to the industry and improve the probability of new entrants establishing profitable and sustainable farm businesses. Details of the program are currently being developed in consultation with agricultural organizations. The new federal-provincial Agricultural Policy Framework will help support the strategic objectives of the program.

The agriculture and food industry is the leading contributor to the economy and is the foundation of rural communities. Continued growth and development with new entrants will strengthen that contribution.

Why a Future Farmers Program

Government and industry have recognized that more must be done to attract the next generation of farmers. The average age of farmers in the province is upwards of 49 years, and steps must be taken to ensure the continuation of a dynamic and growing industry in the province.

There is also recognition that new farmers need access to capital. The average capital value of farms in the province is now more than $400,000, and new entrants must be supported in building their equity.

It is also recognized that farmers of the future will be facing a much more complex, competitive industry. They will have to engage in life-long learning, to acquire the skills and knowledge they need for successful business planning in areas such as financial, human resource, marketing and production management. Research has demonstrated there is a strong correlation between the level of education and success in farming.

Risk management is critical in the start-up phase of any business. New entrants must also have access to the risk management tools they need to deal with unforseen circumstances beyond their control.

The Future Farmers program has been designed to address these and other needs. There are four components of the new program.

Education and Training

There are a number of elements to this component.

  • Funding will be used to provide and/or support training activities in such areas as business planning, marketing, accounting and sustainable production practices.
  • Skill charts have been developed in consultation with the industry to identify training needs.
  • An apprenticeship training program will be available in cooperation with educational institutions and industry, leading to the designation of farming as a trade.
  • A pre-apprenticeship pilot project has been developed.
  • Education and training programs can be tailor-made to meet individual needs.
  • A skills and training credit can be applied in accessing capital.

Credit Relief

Given the relatively high costs of accessing adequate financial resources, this component of the program will help reduce the costs of borrowing for applicants.

  • Eligibility will be based on the demonstration of skills, knowledge and the development of a business plan.
  • The combination of business plans, skills and knowledge and the availability of risk management will help applicants access the financing they require.

Business Planning

The Department of Agriculture, Fisheries and Aquaculture will partner with the federal government under the Agricultural Policy Framework to provide a comprehensive business planning service.

  • Funding will be provided to new entrants to access professional assistance in the development of full financial statements.
  • One-on-one support will be provided to new entrants.

Risk Management

This component of the program will help address risk issues during the critical start-up phase of a new farm.

Investing in the Future

The Future Farmer program is aimed at providing the kinds of resources and services required by the next generation of farmers. The needs will vary according to individual circumstances and plans. The program will also be supported by existing programs and services, such as succession planning. It is expected the program will be refined and further developed over time.

For more information contact:
Department of Agriculture, Fisheries and Aquaculture
Billy MacKendrick (O'Leary): 902-859-8844
Suzanne MacNeill (Summerside): 902-888-8040
Danny Doyle (Charlottetown): 902-368-4145
e-mail: peiextension@gov.pe.ca
Telephone: 1-866-PEIFARM (734-3276)

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