📷: courtesy of the Stock Journal. L-R: Louise, Isabella, Alex, Pete and Jess Stock, at the Lucindale Wool Show in March 2017.

Peter and Louise Stock, Conmurra, were amongst the first participants in the Limestone Coast Red Meat Cluster’s first set of financial management workshops, which were run in 2016.

Pete and Lou said that they would recommend this course to others, and that it helped them to understand their business and to make some changes which would help them to achieve their goals for the future.

“It is important to spend time on your business, not just in your business, and the short course helped us to do this by teaching us skills to calculate our profit and financial indicators from our taxation accounts, and to re-think the way that our business was running. This allowed us to make some changes, including setting up an advisory board, which has helped to establish a system of key financial performance indicators, as well as created a stronger relationship with our accountant and banker”.

As a result of the course, Pete and Lou said that they now understand that both management and tax figures need to be understood for what they are and treated separately for their separate purposes. They felt that their participation in all sessions of the workshop, which involved the sharing of some of their business’s profit and financial information with other participants, was a huge benefit and really helped them to get the most out of the course.

The Limestone Coast Red Meat Cluster is running the next financial management workshop series in February this year, beginning on February 13th at Coonawarra and February 14th at Keith. If you’d like to participate in this series, click here to view the flyer for the workshop series, and here to download the registration form.