The University of Maryland (UMD) is partnering with the Maryland Department of Agriculture (MDA) and USDA to create a four-module online training course, Maryland Farming Success. This course will allow traditionally underserved and socially disadvantaged audiences to logically develop a plan, focused on financial skills, risk management tools, and legal topics regarding their farm operations, and understand additional existing assistance available from USDA, including Farm Service Agency (FSA) programs and Risk Management Agency programs.
The online training course is separated into four modules designed around preparing farmers for success by providing information about available USDA programs and creating the ability for participants to have a successful business plan, including – mission and goals, enterprise budgeting, risk management, and legal risk management.
The first module in the learning course, FSA Overview, features speaker USDA FSA Farm Program Chief Robert Wevodau. This module will discuss important program definitions, introduce FSA programs that assist producers and operations, FSA programs focused on socially disadvantaged beginning and veteran farmers, eligibility, application requirements, who to contact for assistance, and other programs offered through the FSA.
The second module in the learning course, Crop Insurance Basics, features speaker Extension Legal Specialist Paul Goeringer. This module will discuss crop insurance basics, the federal crop insurance program, existing crop insurance products, how to manage risks in a farm operation, possible crop insurance tools, finding a crop insurance agent, and more.
The third module in the learning course, Farm Financial Management, features speaker Extension Educator, Shannon Dill. This module will discuss maintaining financial and production records, household budgets, financial statements, goal setting for farm business success, and personal and farm financial management.
The fourth module in the learning course, Basic Legal Tool Strategies And Business Organizations, also features speaker Extension Legal Specialist Paul Goeringer. This module will discuss legal issues in structuring the farm business, including business structures, risk management strategy tools for legal risks, legal strategies for farm business operations, and other legal competencies.
This material is funded in partnership by USDA, Risk Management Agency, under award number RMA21CPT0011599.