• Latest
  • Trending
  • All
  • News
  • Lifestyle
Bertie Hamman of Standard Bank chats to Dawn Noemdoe of Food For Mzansi about budgeting for success

Grow your agribusiness: How to budget for success

23rd August 2020
Andile Matukane, founder of Farmers Choice and Devroll Legodi, founder of Devroll Herbs, joined a recent session of Food For Mzansi’s Gather To Grow on twitter o discuss the cultivation of spring onions in Mzansi. Photo: Supplied/Food For Mzansi

Farmer 101: Top tips to grow spring onions

14th August 2022
This drone is collecting data which farmers can then access on the yield management platform. Photo: Supplied/Aerobotics

How the Internet of Things is transforming agri

13th August 2022
ADVERTISEMENT
His life took a turn for the worst when he ended up in jail for dealing in drugs, but Thembinkosi Matika turned his life around and now helps others through his Legacy Farming Project. Photo: Supplied/Food For Mzansi

Drug dealer turned farmer ploughs back

12th August 2022
Beat the winter blues with yummy butter chicken

Beat the winter blues with yummy butter chicken

12th August 2022
Households in South Africa could be in for some respite in the coming months on food prices. Photo: Supplied/Food For Mzansi

Food may soon be cheaper. What’s the catch?

12th August 2022
Archive photo. Western Cape agri MEC Ivan Meyer highlighted small towns' dependence on agriculture during a recent provincial summit with municipal leaders. Photo: Supplied/Food For Mzansi

ICYMI: MEC lines up municipal support for farmers

12th August 2022
Christo Van der Rheede is the executive director of Agri SA. Photo: Supplied/Food For Mzansi

Former music teacher leads agri’s greatest symphony

12th August 2022
Bumper harvest for Mzansi’s olive growers

Bumper harvest for Mzansi’s olive growers

11th August 2022
Thanks to Netafim’s innovative solutions, drip irrigation is within reach of small-scale farmers. Photo: Supplied

Yes, precision irrigation is possible on a budget

11th August 2022
There's been a major breakthrough with South African citrus containers that have been contained at European ports. Photo: Supplied/Food For Mzansi

Relief! Govt convinces EU to save SA citrus

11th August 2022
Willem Booise (left) is a trustee and has won the industry’s Specialist Agricultural Worker of the Year award in 2018. Photo: Supplied/Hortgro

Fruit farm shows there’s power in transformation

11th August 2022
Many people love avocados, but did you know that the introduction of just one of these fruits per day can improve the overall quality of your diet? Photo: Pixabay

An avocado a day can keep the doctor away

10th August 2022
  • Home
  • News
  • Changemakers
  • Lifestyle
  • Farmer’s Inside Track
  • Food for Thought
11 GLOBAL MEDIA AWARDS
Monday, August 15, 2022
Food For Mzansi
  • Home
  • News
  • Changemakers
    • All
    • AgriCareers
    • Entrepreneurs
    • Farmers
    • Groundbreakers
    • Innovators
    • Inspiration
    • It Takes a Village
    • Mentors
    • Movers and Shakers
    • Partnerships
    This drone is collecting data which farmers can then access on the yield management platform. Photo: Supplied/Aerobotics

    How the Internet of Things is transforming agri

    His life took a turn for the worst when he ended up in jail for dealing in drugs, but Thembinkosi Matika turned his life around and now helps others through his Legacy Farming Project. Photo: Supplied/Food For Mzansi

    Drug dealer turned farmer ploughs back

    Christo Van der Rheede is the executive director of Agri SA. Photo: Supplied/Food For Mzansi

    Former music teacher leads agri’s greatest symphony

    Agripreneur 101: Creating a beauty brand

    Agripreneur 101: Creating a beauty brand

    Claire and Martin Joubert have sacrificed and struggled to become top breeders of Ankole cattle in South Africa. But giving up was never an option, because they wanted to offer only the very best Ankole genetics in the country. Photo: Supplied/Food For Mzansi

    Farming couple lives and breathes Ankole cattle

    Tackling climate change, one tree at a time

    Agricareers: Veterinary science not for the timid

    Agricareers: Veterinary science not for the timid

    Once struggling farm now a family heirloom

    This drone is collecting data which farmers can then access on the yield management platform. Photo: Supplied/Aerobotics

    Optimal yields now at farmers’ finger tips

  • Lifestyle
  • Farmer’s Inside Track
  • Food for Thought
No Result
View All Result
Food For Mzansi

Grow your agribusiness: How to budget for success

by Staff Reporter
23rd August 2020
in Advertorial, Food For Mzansi TV
Reading Time: 3 mins read
A A

On your marks, get set, go! You asked for it, and we knocked on a few doors at Standard Bank to help up-and-coming farmers and agripreneurs grow their businesses. First-up, we kick off with budgeting. And no, budgeting is not a swear word…

Everybody has heard about budgeting, but very few people actually do it. On today’s episode of Food For Mzansi TV, we chat to Bertie Hamman, senior manager of agribusiness at Standard Bank, about that awkward B-word. If you own your own agribusiness or aspire to run your own farm, budgeting should be the first thing that you learn if you want to become a success. But maybe we should start at the beginning.

What are the benefits of budgeting for farmers?

Senior manager for agribusiness at Standard Bank, Bertie Hamman. Photo: Supplied

A budget is basically a summary of incomes and expenses that you can use to make choices about how you will spend your money for a future period. For business owners and farmers, having a well thought-out, realistic budget is hugely important, but only if you stick to it. Budgets are forward-looking, which means that they are based on making certain assumptions.

ADVERTISEMENT

Having a budget is meant to empower you and help you make important decisions about your business. (Be sure to watch this episode of Food For Mzansi TV, where Hamman gives more detail on how to set up two different types of budgets that every agribusiness needs: a production budget and a cash flow budget.)

What do I need to know before I plan my budget?

  • Determine your spending first: Budget planning usually starts with determining how much you will be spending and on what. Once you know how much you will spend, you can determine your revenue.
  • Start with what you know: Having the least guesswork early on in your budget plan can save you a lot of headaches, so start with the things you know for certain, or have to do the least amount of guesswork on.
  • Determine the objective of your budget: Once you know what the goal is, you can plan around that. The objective of your budget will determine both your spending and income.

What happens when I exceed my budget?

It’s not unheard of to go over your budget. Of course, the more prudent your budget is, the less likely you will exceed it. But budgeting isn’t a one-and-done thing. You have to budget, and then account, to see whether your budget was on the right track and where you deviated from it. Having deviations that have a good reason is a perfectly normal part of any budget planning, but if your deviations are caused by you changing your objective or poor planning, you could run into a problem.

When can I start seeing results?

Listen, we know that it takes a lot of time, effort and planning to set up a budget successfully. Budgeting is all about being prepared and having a plan in place to tackle challenges that may arise. Once you have a budget in place, farming successfully and with purpose becomes easier, because you have an objective, you know what you’re working towards and you have the journey to success mapped out.

More of a podcast person? Download Hamman’s top budgeting tips…
Option 1: Click here to listen on Spotify (all mobile and other devices).
Option 2: Click here to listen on any Apple device.
Option 3: Click here to listen on Google Podcasts.
Option 4: Click here listen using this player. Just click “play”.
ADVERTISEMENT
Previous Post

Advanced chicken house gives KZN poultry farmers wings

Next Post

Three things happening in SA agriculture today, 24 August 2020

Staff Reporter

Staff Reporter

Researched and written by our team of writers and editors.

Related Posts

Andile Matukane, founder of Farmers Choice and Devroll Legodi, founder of Devroll Herbs, joined a recent session of Food For Mzansi’s Gather To Grow on twitter o discuss the cultivation of spring onions in Mzansi. Photo: Supplied/Food For Mzansi

Farmer 101: Top tips to grow spring onions

by Vateka Halile
14th August 2022
0

Before you even start planting spring onions, there are very important factors you should consider. Experts share valuable advice on...

This drone is collecting data which farmers can then access on the yield management platform. Photo: Supplied/Aerobotics

How the Internet of Things is transforming agri

by Staff Reporter
13th August 2022
0

The Internet of Things may sound like a scary term, but it is a tool that is reshaping agricultural markets...

His life took a turn for the worst when he ended up in jail for dealing in drugs, but Thembinkosi Matika turned his life around and now helps others through his Legacy Farming Project. Photo: Supplied/Food For Mzansi

Drug dealer turned farmer ploughs back

by Vateka Halile
12th August 2022
0

His life took a turn for the worst when he ended up in jail for dealing drugs, but Thembinkosi Matika...

Beat the winter blues with yummy butter chicken

Beat the winter blues with yummy butter chicken

by Noluthando Ngcakani
12th August 2022
0

MZANSI FLAVOUR: Calvin Venter might be young, but he has been working as a chef since the tender age of...

Next Post
Pictured from left are Ruth Hall, professor at PLAAS at the University of the Western Cape and Julian May, director of the NRF-DST Centre of Excellence in Food Security at the University of the Western Cape.

Three things happening in SA agriculture today, 24 August 2020

Beat the winter blues with yummy butter chicken
Recipes

Beat the winter blues with yummy butter chicken

by Noluthando Ngcakani
12th August 2022
0

MZANSI FLAVOUR: Calvin Venter might be young, but he has been working as a chef since the tender age of...

Read more
Households in South Africa could be in for some respite in the coming months on food prices. Photo: Supplied/Food For Mzansi

Food may soon be cheaper. What’s the catch?

12th August 2022
Archive photo. Western Cape agri MEC Ivan Meyer highlighted small towns' dependence on agriculture during a recent provincial summit with municipal leaders. Photo: Supplied/Food For Mzansi

ICYMI: MEC lines up municipal support for farmers

12th August 2022
Christo Van der Rheede is the executive director of Agri SA. Photo: Supplied/Food For Mzansi

Former music teacher leads agri’s greatest symphony

12th August 2022
Bumper harvest for Mzansi’s olive growers

Bumper harvest for Mzansi’s olive growers

11th August 2022

ICYMI: Mama Fifi determined to rise again

Relief! Govt convinces EU to save SA citrus

Seasonal farmworkers struggle to get UIF

Yes, precision irrigation is possible on a budget

Food may soon be cheaper. What’s the catch?

Determination drives this #SoilSista to succeed

THE NEW FACE OF SOUTH AFRICAN AGRICULTURE

With 12 global awards in the first three years of its existence, Food For Mzansi is much more than an agriculture publication. It is a movement, unashamedly saluting the unsung heroes of South African agriculture. We believe in the power of agriculture to promote nation building and social cohesion by telling stories that are often overlooked by broader society.

Farmer 101: Top tips to grow spring onions

How the Internet of Things is transforming agri

Drug dealer turned farmer ploughs back

Beat the winter blues with yummy butter chicken

Food may soon be cheaper. What’s the catch?

ICYMI: MEC lines up municipal support for farmers

  • Our Story
  • Contact Us
  • Cookie Policy
  • Privacy Policy
  • Copyright

Contact us
Office: +27 21 879 1824
News: info@foodformzansi.co.za
Advertising: sales@foodformzansi.co.za

No Result
View All Result
  • Home
  • News
  • Changemakers
  • Lifestyle
  • Farmer’s Inside Track
  • Food for Thought

Copyright © 2021 Food for Mzansi

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.