About Us

View As Webpage

A message from our sponsor
Scrutinize cash flow and ensure you're ready for changing rates in the future.
How do low rates impact your farm business plan?
As Craig Macfie meets with his farm clients to discuss their business plans this winter, interest rates won’t be an immediate concern. The Bank of Canada, after all, has made it clear that today’s low rates will likely continue through 2023 to support Canada’s post-COVID economic recovery.
Macfie, an accountant and farm business advisor with Stark & Marsh in Swift Current, Sask., will urge his clients to prepare for what might happen after 2023. Here’s his thought process – one he also applies on his own family’s farm in the Crystal Springs, Sask. region.
“Grain farming in this area is coming out of a commodity boom and ethanol boom,” says Macfie, “so producers have had a lot of years of good profitability and it’s been relatively easy to access credit. Even if rates stay low for a while, producers still need to do their planning and due diligence.”
He recommends that farm producers step back and look at their business and its finances holistically. Consider where you are today, where you’d like to go tomorrow and what could get in your way.
While recent years’ commodity prices and rising farmland values have boosted many producers’ net worth, that’s not the figure he’d be focusing on.
“I have farm loans myself, and I’d advise farmers to focus on cash flow in their business planning,” he says. “At the end of the day, cash – not net worth – is what services debt.”
Listen Now
Download Now
Episode 55: Training the Next Generation of Farm Leaders
Farm Business Planning Guide
What’s your next move? We’re ready to help.
Tell us where you want to take your operation and we’ll help you get there.
Learn more about business planning.
®/™Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
RBC Royal Bank | Royal Bank of Canada l RBC Waterpark Place, 88 Queens Quay West, 12th Floor, Toronto, ON, M5J 0B8, Canada | www.rbcroyalbank.com

*NO PURCHASE NECESSARY. Open to Canadian residents who, at the time of entry are the legal age of majority in their province/territory of residence and who are recognized by the Sponsor as Agricultural Producers or employees of Agricultural Producers. Starts January 11, 2021 at 9:00 AM ET and ends June 11, 2021 at 5:00 PM ET. Two (2) prizes available to won with a total approximate retail prize value of $23,051.84CAD. One (1) prize winner will be selected from the western Canada region comprised of British Columbia, Alberta, Saskatchewan, Manitoba, Northwest Territories, Nunavut and Yukon, and one (1) prize winner will be selected from the eastern Canada region comprised of Ontario, Quebec, New Brunswick, Nova Scotia and Prince Edward Island. Odds depend on the number of eligible entries submitted and received in your respective region. Limit 1 entry per person. Mathematical skill-testing question required. Full rules and entry details at rbcgatorgiveaway.com