Many farm and business owners have not created a written business plan or have not verified their plan is realistic. Former Bank Vice President, John W. Nelson, III explained that too many businesses are ill prepared; they spend too much money on poor advice and lack accurate financial records or projections.
Nelson shared his insights on creating realistic business plans. This is critical when seeking bank loans or investor funding. Nelson led a workshop called “How to Construct Business Plans and Loan Presentations That Raise Capital” at the Newport County Chamber of Commerce in Middletown, RI. [Learn what to include in a farm loan package here.]