Farm Business Development Initiative

The Farm Business Development Initiative helps farmers to develop business plans and enhance business skills in nine business practice areas: business strategy, marketing, production economics, human resources, finance, environment, succession planning, business structure and risk management. Up to $4,000 is available to qualified applicants to help them engage private sector business services and/or access farm-related education and training programs. The farmer cost is a minimum of 25 per cent of the consulting or training costs. Farmers must have annual gross farm income of at least $35,000 or be farming for less than six years (and have the potential to generate $35,000 in gross farm income over the next 36 months).

Taking Stock helps farmers understand their needs for growth and development in their business. Its purpose is to measure current business practices and help farmers identify information, training programs and consulting services that they can use to improve their use of progressive business practices in their business. Taking Stock is Ministry delivered at no cost to the farmer.

Financial Benefits Summary

Buy Benefits
Financial benefits may be available for qualified farmers to reimburse up to 75 per cent of the eligible costs of accessing training and consulting services. You must complete the Taking Stock needs identification document and create a Farm Development Plan in order to access these benefits.

In addition you must

  • *Be a Saskatchewan resident who is at least 18 years of age and;
  • *Provide a completed Application for Funding on a form perscribed by the Ministry and;
  • *Have been actively farming during the past six years and have reported on your Canada Revenue Agency income tax return at least $ 35,000 in Gross Farming Income in at least one of those years (or is not required to file a Canada Revenue Agency "Statement of Farming Activities" and provides a personal declaration of eligibility affirming that their Gross Farming Income has been at least $35,000 in at least one of the last six years); or
  • *Have farmed for less than six years (immediately proceeding the year of application); own or control (by written agreement) productive agricultural assets (land, buildings, machinery, livestock) and can demonstrate that the farming operation can generate Gross Farming Income of $35,000 or more within the next 36 months;
  • *Authorize and agree to providing other information related to determining eligibility and reporting requirements of the program.
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What makes Lifestyle by Design different...
  • Advice only services are objective and unbiased
  • Evaluate and optimize financial strategy using a proprietary technology
  • Our planning provides certainty and security
  • We have defined processes to develop farm succession plans and exit strategies.
  • Our work is fully auditable and respected by many major accounting firms
  • Our planning process has been designed to help you make well-informed decisions
  • We have a strong background in tax minimization strategies
  • Our health/travel insurance have no pre-existing condition clauses
  • Our health and travel plans are fully tax deductible for farm corporations