DAIRYUPDATE Opportunity knocks Ontario’s new entrant program puts a heavy accent on business plans geared to success I f you intend to apply for a program designed to help new dairy farmers get started in Ontario, be prepared to show you have a solid financial plan and will be able to generate a profit. The New Entrant Quota Assistance Program (NEQAP), established by Dairy Farmers of Ontario (DFO) as part of P5 harmonized quota policies, will lend successful applicants up to 12 kilograms of quota to help them get started in milk production. However, the program lays out several conditions you have to meet before you can be considered. Among them is having a certified accountant prepare or review a 10-year financial plan. The accountant also has to verify, in writing, your plan is legitimate and the business can generate a profit. You’ll also need a letter from a lender showing you have financing in place, as required in the financial business plan. “These requirements were developed to ensure new entrants have an opportunity to succeed,” says George MacNaughton, DFO’s production division director. “A sound financial business plan is a fundamental part of building a successful dairy operation.” DFO will accept NEQAP applications from Aug. 1 to Nov. 30. It will distribute complete information and application Thinking about buying a farm to start your own operation? New entrant application forms will be available in July. 8 | June 2009 | MilkPRODUCER
Table of Contents for the Digital Edition of The Milk Producer - June 2009