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Developing Personal Risk Management Plans and Marketing Strategies For Small, Beginning, and Limited-Resource Producers in Southeastern North Carolina

Nelson Brownlee and James Hartsfield

Summary

Producers need the ability to deal with risks that come with new attractive farming opportunities. The project was funded by a grant with Digital Extension Risk Management Education and National Crop Insurance Services and was conducted during the first half of 2022. Project goal was to assist small, beginning and limited-resource farmers in Southeastern North Carolina respond to risk by developing their own personal risk management and marketing plans. Applied education consisting of eight sequential workshops (7 virtual, 1 in-person; 30 hours total) supplemented by homework assignments and individualized counseling was delivered via a partnership of subject matter experts and local educators to farmers and ranchers in Southeastern North Carolina. Project outcomes show that 51 producers and 6 educators acquired the risk management and market analysis skills and understanding of their own operations to set a goal, and delineate three implementation actions for each goal, for each of the five areas of risk and five key marketing mix variables. Each participant was interviewed at the project's end, with educators reporting that 47 producers participated in all activities of the project accomplishing 3,661 (average 77.9) hours of homework. Surveys taken four months after the last workshop, showed that 36 of the 51 producers had accomplished at least half of their actions and 13 had completed all of their actions which included: adding high tunnel greenhouses, installing irrigation systems, receiving financial assistance, and developing personal webpage and social media pages. Farmers now have the confidence they need to deal with future risks.

Details

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