The purpose of an enterprise budget is to provide a producers with an estimate of potential revenues, expenses, and profit for a single enterprise. Enterprise budgets are an excellent tool for producers and also very important for beginning farmers. This session will discuss concepts like accounting vs. economic profit, opportunity cost, and different types of cost. This session will culminate in the development of an enterprise budget for an enterprise on your farm.

2:00pm - 4:00pm - Enterprise Budgets For Beginning Farmers

Steve Whittington - Michigan State University Extension

Jon LaPorte - Michigan State University Extension

Madelyn Celovsky - Michigan State University Extension

Sarah Fronczak - Michigan State University Extension

Christina Curell - Michigan State University Extension