Risk management for farming

Last updated on March 10, 2022

It is important to plan for risk in all aspects of your farm business operation. These risks include:

  • production risks
  • market risks
  • financial risks
  • human resource risks
  • policy risks

Continually assess the security of your operation to reduce the probability and impact of adverse events

The Lower Mainland Horticultural Improvement Association's annual Growers' Short Course offers seminars on agricultural risk management. The following video recordings feature speakers from the 2017 seminars.

Transform Risk into Opportunity

David Hillson, ‘The Risk Doctor’ addresses each phase of the risk process to extend the scope and identify opportunities for your farm business.

Habits for Successful Farm Business

Keynote speaker, Larry Martin discusses lifelong learning using twenty first century tools and risk management to develop your habits as a successful farm business manager.

Questions to ask

As an agrifood business manager, it is helpful to consider the following questions to mitigate different types of risk.

Production risk

Market risk

Financial risk

  • How secure are your financial arrangements with lending agencies?
  • Will the current levels within your production insurance coverage meet your cash flow requirements?
  • What is the worst-case scenario for production loss?

Human resources risk

Policy risk

  • Are there national or international policies that will negatively affect your markets?
  • Do you have a plan to deal with changes in government policy and regulation?
Funding opportunities

Financial and advisory programs are available for agricultural producers.

Emergency preparedness

Planning ahead for hazardous situations will help minimize negative impacts and speed recovery.

Contact information