business growth

KCARD Guest Blogger: US Department of Agriculture Rural Development

KCARD Guest Blogger: US Department of Agriculture Rural Development

Over the next couple of weeks, we will be showcasing partners in our Growing Your Farm and Food Business Webinar series. These partners provide funding opportunities to Kentucky’s agricultural producers and agribusinesses. The USDA Rural Development Office is an important partner in KCARD’s work as we apply for funding from their office to continue our work with Kentucky’s producers and rural and agribusinesses but also because they offer a wealth of programs to Kentucky’s rural businesses. In this post, we are learning about the USDA Rural Development and the programs they administer.

Growing Your Farm and Food Business Webinar Series

Growing Your Farm and Food Business Webinar Series

The Kentucky Center for Agriculture and Rural Development (KCARD) will be hosting a series of five “Growing Your Farm and Food Business” webinars this October to assist agricultural producers and food businesses with understanding business fundamentals, identifying grant opportunities, and developing a strategy to seek funding. Webinars will take place from 10:00am – 11:30am Eastern/9:00am -10:30am Central and will be available for later viewing.

How Much Am I Going to Make? Developing Revenue Assumptions

How Much Am I Going to Make?  Developing Revenue Assumptions

To prepare financial projections for a new business, you have to be able to come up with a way to calculate expected revenue. I have had conversations with people who insist that there is no way to come up with such a number and really struggle with this. How do you calculate your expected revenue for the next year to three years?

Why Do We Obsess about Financial Statements?

Why Do We Obsess about Financial Statements?

If you ask any KCARD employee where they turn to first in a business plan they receive, there’s a good chance that – after reading the summary of what the business is wanting to do – the profit/loss statement will be the first page reviewed. We will start looking at how revenue was calculated and whether the expense lines show everything that we expect to see in that particular business. In the next few weeks, we will be going into more detail on how to develop financial projections, stay tuned. 

New Methods of Accepting Payments Online

New Methods of Accepting Payments Online

The name of the game these days is social distance. So how do you accept payments from customers without getting closer than six feet or having to handle cash? Digital wallets are financial accounts that allow users to store funds, make transactions, and track payment histories by computer or phone. Here are some of the most popular options that will allow you to take payments without having to get a credit card reader (and some that connect with Square).

Q&A with KCARD: Turning New Customers into Regulars

Q&A with KCARD: Turning New Customers into Regulars

If you’re in the business of selling local food right now, you might be in a unique situation with an uptick in sales and an increase in new customers. We are hearing from businesses that they are getting orders from folks who have never purchased food anywhere other than the grocery store, who suddenly want to buy in bulk from a local farmer. New customers can be a lot of work. You can spend a lot of time and energy patiently giving answers to endless questions. Here are 3 tips on how to turn a new customer into a regular.