university of minnesota business plan

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Visit the site www.AgPlan.com

Quickly develop your business plan for free!

AgPlan is powerful website developed to help rural businesses develop a business plan. AgPlan is free of charge for anyone to use individually or in educational programs.

AgPlan is designed to provide customized assistance to different types of rural businesses. When you enter the site, you will be able to select your business type from the following choices:

• Ag – Commodity
• Ag – Value-Added
• Organic Transition
• Personal Plan
• Small Business

Each business type has an outline designed specifically for that particular type of business, tips or questions that help you develop each section of the plan, sample business plans, and links to additional resources for each section of the plan.

AgPlan is designed to help business owners work with an educator or consultant while developing a business plan. You can give access to your business plan to the reviewers of your choice and AgPlan will facilitate interaction with them.

Why use AgPlan?

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Looking for in-depth help? Let's meet!

Schedule an appointment for a virtual meeting with a business librarian @ calendly.com/busref

What are business plans?

From the Small Business Administration: A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. As it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.

Before you begin writing your business plan, consider four core questions:

• What service or product does your business provide and what needs does it fill?
• Who are the potential customers for your product or service and why will they purchase it from you?
• How will you reach your potential customers?
• Where will you get the financial resources to start your business?

https://www.sba.gov/offices/district/mo/st-louis/resources/how-write-business-plan

Library Resources

Business Plans Handbook

A compilation of actual business plans developed by small businesses throughout North America.  Business Plans Handbook is part of Gale Virtual Reference Library.  Use the link above to access the online collection.

Web Resources

• Small-Business Glossary of Terms
• Bplans.com: Sample Business Plans
• Business Owners Toolkit / Sample Business Plan Components
• Write a Business Plan
• Business Plan Basics
• Sample Business Plans
• SCORE A resource partner of SBA offering training, certification and a broad array of assistance across the country. Multiple options available in Twin Cities.

Books and Video on Developing and Writing Business Plans

• The business plan workbook   / Colin Barrow, Paul Barrow, Robert Brown. London : Kogan Page, 2005. Online Access. Print: TC Wilson Library Business Reference HD30.28 .B3685 2005
• Plan as you go business plan . Entrepreneur Press, 2008.  TC Wilson Library HD30.28 .B4569 2008 Regular Loan 
• How to prepare a business plan .  Kogan Page, 2008.  Online Access.
• The business plan [videorecording]   / writer/director, Suzi Taylor ; producer, Suzi Taylor ; VEA. Hamilton, NJ : Films for the Humanities and Sciences, [2010] TC Walter Smart Learning Commons HD30.28 .B8525 2010
• Business planning for turbulent times : new methods for applying scenarios   / edited by Rafael Ramirez, John W. Selsky and Kees van der Heijden. London ; Washington : Earthscan, 2010. TC Wilson Library HD30.28 .B848 2010
• Entrepreneur's guide to writing business plans and proposals .  Praeger, 2008. Online Access.
• Creating a business plan : expert solutions to everyday challenges .  Boston, Mass. : Harvard Business School Pub., c2007. TC Wilson Library HD30.28 .C73 2007
• Writing a convincing business plan .  Barron's, 2008. TC Wilson Library HD30.28 .D477 2008 Regular Loan 
• How to write a business plan   / Brian Finch. London ; Philadelphia : Kogan Page, 2010.zz TC Wilson Library HD30.28 .F562 2010
• Ernst & Young Business Plan Guide .  John Wiley, 2007. TC Wilson Library HD62.5 .S556 2007 Regular Loan br>
• Seven step business plan .  Pelican Publishing Co, 2007.  TC Wilson Library HD30.28 .H6725 2007 Regular Loan 
• How to write a business plan .  Mike McKeever. Berkeley, CA : Nolo, 2007. Online Access
• The new business road test : what entrepreneurs and executives should do before writing a business plan   / John W. Mullins. Harlow, England ; New York : Prentice Hall/Financial Times, 2006. TC Wilson Library Reserve HD62.5 .M85 2006
• Anatomy of a Business Plan: a step by step guide to building a business and securing your company's future .  7th edition. 2008. Online Access.
• Entrepreneurial finance: finance and business strategies for the serious entrepreneur   / Steven Rogers ; with Roza Makonnen. New York : McGraw-Hill, c2009. Online Access.
• The Business Plan: How to Win Your Investors Confidence   / by Gerald Schwetje, Sam Vaseghi. Berlin, Heidelberg : Springer-Verlag Berlin Heidelberg, 2007. Online Access.
• The due diligence handbook: corporate governance, risk management and business planning  / Linda S. Spedding. Amsterdam ; Boston ; London : CIMA, 2009. Online Access.
• The marketing plan workbook   / John Westwood. London ; Sterling, VA : Kogan Page, 2005. TC Wilson Library Business Reference HF5415.13 .W482 2005  [Table of contents ]--  http://www.loc.gov/catdir/toc/ecip053/2004026585.html 

Get In-Person Help

• Minnesota Small Business Development Centers This statewide network of Small Business Development Centers provide the professional expertise and guidance that every small business owner needs to flourish in today's competitive and changing business world.
• Small Business Administration -- Minnesota District Office The Minnesota SBA Office is responsible for the delivery of SBA's many programs and services throughout the State of Minnesota. The office is located at 210-C Butler Square, 100 N 6th Street, in downtown Minneapolis across the street from the Target Center. Office hours are 8:00 a.m. until 4:30 p.m., Monday through Friday. The local phone number is 612-370-2324.
• WomenVenture Help for women entrepreneurs.
• Womens Business Centers SBA assistance for women entrepreneurs.

Find Journal Articles

• Business Source Premier Use this popular research database to find business articles from 2,200 journals and magazines in marketing, management, information technology, operations, human resources, accounting, finance and economics dating back to 1965. Additional company and industry profiles from Datamonitor are included along with country reports and SWOT analyses.
• Factiva Full text articles and transcripts from news sources, business magazines, and websites with international and foreign language coverage. Includes daily newspapers, television transcripts, newswires, and all editions of the Wall Street Journal. Financial information for publicly traded companies, stocks, funds, currencies, and common market indexes. Limited to 7 simultaneous users.
• American City Business Journals (BizJournals) Find articles from the Minneapolis St. Paul Business on local companies and other organizations. Students, faculty and staff have full access to Minneapolis/St. Paul Business Journal, including Digital content across 18 different Industries, access to the Weekly Edition, Book of Lists, the Search Archives. Register for an account with a valid @umn.edu e-mail address using the link above. NOTE: Full text access only includes Minneapolis/St Paul market. more... less... Once a personal account is created, you can access from anywhere at https://www.bizjournals.com/twincities/
• U.S. Newsstream This link opens in a new window Search the most recent premium U.S. news content, as well as archives which stretch back into the 1980s featuring newspapers, newswires, blogs, and news sites in active full-text format.
• International Newsstream This link opens in a new window International news from newspapers, newswires, transcripts, and digital-only news sites in full-text format. Over 800 of the world's top news sources.

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Planning and Budgeting for Public Health: Part I - The Business Plan

Practitioners in the field of public health find themselves in serious competition for funding. How do we make sure that the activities we advance to protect, maintain and promote the health of the public are a priority for funders. One of the ways we can improve our chances is to make a strong business case for our work. This brief overview will give you a simple outline to assist you in building a business plan for public health activities.

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College of Education and Human Development

Department of Organizational Leadership, Policy, and Development

Business and marketing education undergraduate

A degree in Business and Marketing Education (BME) prepares you for a variety of careers, from positions in Fortune 500 companies, entrepreneurial startups, and international organizations, to nonprofit management. You will take courses in sales and marketing to gain a broad set of business skills.

"Take pride in how far you've come and have faith in how far you can go." Michael O'Toole BME BS program alum; Video Coordinator, Tampa Bay Rays

Did you know?

This major's flexibility gives you the option to add an additional area of expertise. In CEHD, earn a minor or certificate in areas such as adult education, sales, or sport management.

Activate your potential

Our students are motivated to get a jumpstart on their careers. As a final part of your program you will complete at least one applied experience at a company or organization of your choice.

What does business culture look like in Australia or Denmark? Find out by completing an internship or learning abroad experience through one of the Learning Abroad Center's sponsored programs . Additional opportunities exist through the National Student Exchange (NSE) . The University of Minnesota has 180 programs in over 50 countries and offers a variety of short-term, semester, or yearlong options.

Connect to your future

CEHD's Career Services office meets you where you are in your career exploration. Career counselors guide you from orientation through graduation, providing resources and opportunities that will help you throughout your career. Career services include individual appointments, workshops on topics such as interviewing and networking, and employer events specific to your major.

Scholarship

Apply for a BME scholarship

• Major requirements (University Catalog)
• BME Curriculum and Planning Guide
• BME Applied Experience Step-by-Step Guide
• Program sample plan
• OLPD 4696—Applied experience guidelines

Tuition and financial aid

UMN tuition CEHD undergraduate financial aid

Coordinator of Undergraduate Studies 612-624-0494 | [email protected]

Business Plan Development Guide

(6 reviews)

Lee Swanson, University of Saskatchewan

Copyright Year: 2017

Publisher: OPENPRESS.USASK.CA

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Kevin Heupel, Affiliate Faculty, Metropolitan State University of Denver on 3/4/20

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element... read more

Comprehensiveness rating: 3 see less

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element of the business plan. Some examples from actual business plans would be helpful.

Content Accuracy rating: 4

For the most part, the content is accurate. The content covers all important aspects of drafting a business plan. I thought the industry analysis could use more information about collecting primary and secondary sources; instead, this information was referenced in the marketing plan section.

Relevance/Longevity rating: 5

Most of the content relies on cites as far back as 2006; however, when it comes to developing and writing a business plan nothing has changed. Thus, the content is current and there is no concern about it becoming obsolete in the near future.

Clarity rating: 4

The text is clear. There are no difficult terms used and the writing is simple. The text uses a lot of bullet points though, which gets tedious to read for a few pages.

Consistency rating: 5

The text does a good job of maintaining consistency in terms of framework and terminology. The text is organized where it's easy to find the information you want in a quick manner.

Modularity rating: 3

The text has a lot of bullet points and the paragraphs are dense. However, the use of subheading is excellent.

Organization/Structure/Flow rating: 5

The book is organized as if you're writing a business plan from start to finish, which is helpful as a practical guide.

Interface rating: 5

There are no navigation problems, distortion of images/charts, or any other display features that may distract or confuse the reader.

Grammatical Errors rating: 5

The text is free of grammatical errors. The sentence structure is simple with many bullet points, which helps to avoid any grammatical issues.

Cultural Relevance rating: 5

This book was written by a Canadian professor and provides references to Canadian sources. However, the information in this text can be used for U.S. schools.

This book is very short and provides a good, general overview about the process of creating and writing a business plan. It won't help a reader if he/she is confused about a certain part of the business plan. The reader will have to find another source, such as "Preparing Effective Business Plans" by Bruce Barringer, Ph.D. The book provides links to good resources and a finished business plan that the reader can reference. I would recommend the book for undergraduate courses.

Reviewed by Kenneth Lacho, Professor of Management, The University of New Orleans on 6/19/18

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or... read more

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or economic area relevant to this proposed business. 4. Business model ok as a guide. 5. Suggested mission statement to cover: product/business, target customer, geographical area covered. 6. Need detailed promotion plan, e.g., personal selling, advertising, sales promotion, networking publicity, and social media. 7. How do you find the target market? 8. Chapter 6 too much detail on debt and equity financing. 9. Discuss how to find sources of financing, e.g., angels. 10. Expand coverage of bootstring, crowdfunding. 11. Chapter 4 – good checklist. 12. Chapter 3 - overlaps. 13. Chapter 7 – 3 pages of executive summary – double or single spaced typing. Number all tables, graphs. 14. Some references out-of-date, mostly academic. Bring in trade magazines such as Entrepreneur.

Content Accuracy rating: 5

In my opinion, the content is accurate and error free.

Relevance/Longevity rating: 4

The material is relevant to writing a business plan. I wonder if the Porter, SWOT VRIO, etc. material is too high level for students who may not be seniors or have non-business degrees (e.g., liberal arts). Porter has been around for a while and does have longevity. The author has to be more alert to changes in promotion, e.g., social media and sources of financing, e.g., crowdfunding.

Clarity rating: 3

As noted in No. 9, the tone of the writing is too academic, thus making the material difficult to understand. Paragraphs are too long. Need to define: Porter, TOWS Matrix, VRIO, PESTEL. A student less from a senior or a non-business major would not be familiar with these terms.

Consistency rating: 4

The text is internally consistent. The model approach helps keep the process consistent.

Modularity rating: 4

The process of developing a business plan is divided into blocks which are parts of the business plan. Paragraphs tend to be too long in some spots.

Organization/Structure/Flow rating: 4

The topics are presented in a logical step-wise flow. The language style is too academic in parts, paragraphs too long. Leaves out the citations. Provides excellent check lists.

There are no display features which confuse the reader.

Grammatical Errors rating: 4

The text has no grammatical errors. On the other hand, I found the writing to be too academic in nature. Some paragraphs are too long. The material is more like an academic conference paper or journal submission. Academic citations references are not needed. The material is not exciting to read.

The text is culturally neutral. There are no examples which are inclusive of a variety of races, ethnicities, and backgrounds.

This book best for a graduate class.

Reviewed by Louis Bruneau, Part Time Faculty, Portland Community College on 6/19/18

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials. read more

Comprehensiveness rating: 5 see less

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials.

Contents of the book were accurate, although it could have benefited from editing/proofreading; there was no evidence of bias. As to editing/proofreading, a couple of examples: A. “Figure 1 – Business Plan… “ is shown at the top of the page following the diagram vs. the bottom of the page the diagram is on. (There are other problems with what is placed on each page.) B. First paragraph under heading “Essential Initial Research” there is reference to pages 21 to 30 though page numbering is missing from the book. (Page numbers are used in the Table of Contents.)

The book is current in that business planning has been stable for sometime. The references and resources will age in time, but are limited and look easy to update.

Clarity rating: 5

The book is written in a straightforward way, technical terms that needed explanations got them, jargon was avoided and generally it was an easy read.

The text is internally consistent in terms of terminology and framework.

Modularity rating: 5

The book lends itself to a multi-week course. A chapter could be presented and students could work on that stage of Plan development. It could also be pre-meeting reading for a workshop presentation. Reorganizing the book would be inappropriate.

The topics in the text are presented in a logical, clear fashion.

Generally, the book is free of interface problems. The financial tables in the Sample Plan were turned 90° to maintain legibility. One potential problem was with Figure 6 – Business Model Canvas. The print within the cells was too small to read; the author mitigated the problem by presenting the information, following Figure 6, in the type font of the text.

I found no grammatical errors.

The text is not culturally insensitive or offensive in any way.

I require a business plan in a course I teach; for most of the students the assignment is a course project that they do not intend to pursue in real life. I shared the book with five students that intended to develop an actual start-up business; three of them found it helpful while the other two decided not to do that much work on their plans. If I were planning a start-up, I would use/follow the book.

Reviewed by Todd Johnson, Faculty of Business, North Hennepin Community College on 5/21/18

The text is a thorough overview of all elements of a business plan. read more

Comprehensiveness rating: 4 see less

The text is a thorough overview of all elements of a business plan.

The content is accurate and seems to lack bias.

Content seems relevant and useful . It does not help an entrepreneur generate ideas, and is very light on crowdfunding and other novel funding source content. It is more traditional. This can be easily updated in future versions, however. "Social Media" appears once in the book, as does "Crowd Funding".

The book is comprehensive, but perhaps not written in the most lucid, accessible prose. I am not sure any college student could pick this up and just read and learn. It would be best used as a "teach along guide" for students to process with an instructor.

The text seems consistent. The author does a nice job of consistently staying on task and using bullets and brevity.

Here I am not so certain. The table of contents is not a good guide for this book. It does make the book look nicely laid out, but there is a lot of complexity within these sections. I read it uncertain that it was well organized. Yes there are many good bits of information, however it is not as if I could spend time on one swathe of text at a time. I would need to go back and forth throughout the text.

Organization/Structure/Flow rating: 2

Similar to the above. I did not like the flow and organization of this. An editor would help things be in a more logical order.

Interface rating: 2

The interface is just OK. It is not an attractice interface, as it presents text in a very dense manner. The images and charts are hard to follow.

I did not find any grammatical errors.

Cultural Relevance rating: 4

I a not certain of the origins of Saskatchewan, but I do feel this is a different read. It is more formal and dense than it has to be. This would be a difficult read for my students. I do not feel it is insensitive in any way, or offensive in any way.

I would not adopt this book if given the chance. It is too dense, and not organized very well, even though the information is very good. The density and lack of modularity are barriers to understanding what is obviously very good information.

Reviewed by Mariana Mitova, Lecturer, Bowling Green State University on 2/1/18

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to... read more

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to other resources add to the completeness of the textbook.

Content seems accurate.

Since the content is somewhat conceptual, the text will not become obsolete quickly. In addition, the author seems to be updating and editing content often hence the relevance to current developments is on target.

The text is very clear, written in clear and straight-to-the point language.

The organization of content is consistent throughout the entire text.

The textbook is organized by chapters, beginning with overview of the model used and followed by chapters for each concept within the model. Nicely done.

The flow is clear, logical and easy to follow.

Overall, images, links, and text are well organized. Some headlines were misaligned but still easy to follow.

No concerns for grammar.

No concerns for cultural irrelevance.

Reviewed by Darlene Weibye, Cosmetology Instructor, Minnesota State Community and Technical College on 2/1/18

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning. read more

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning.

The text was accurate, and error-free. I did not find the book to be biased.

The content is up-to-date. I am reviewing the book in 2017, the same year the book was published.

The content was very clear. A business plan sample included operation timelines, start up costs, and all relevant material in starting a business.

The book is very consistent and is well organized.

The book has a table of contents and is broken down into specific chapters. The chapters are not divided into sub topics. I do not feel it is necessary for sub topics because the chapters are brief and to the point.

There is a great flow from chapter to chapter. One topic clearly leads into the next without repeating.

The table of contents has direct links to each chapter. The appearance of the chapters are easy to read and the charts are very beneficial.

Does not appear to have any grammatical errors.

The text is not culturally insensitive or offensive.

I am incorporating some of the text into the salon business course. Very well written book.

Table of Contents

Introduction

• Chapter 1 – Developing a Business Plan
• Chapter 2 – Essential Initial Research
• Chapter 3 – Business Models
• Chapter 4 – Initial Business Plan Draft
• Chapter 5 – Making the Business Plan Realistic
• Chapter 6 – Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur
• Chapter 7 – Finishing the Business Plan
• Chapter 8 – Business Plan Pitches

References Appendix A – Business Plan Development Checklist and Project Planner Appendix B – Fashion Importers Inc. Business Plan Business Plan Excel Template

Ancillary Material

About the book.

This textbook and its accompanying spreadsheet templates were designed with and for students wanting a practical and easy-to-follow guide for developing a business plan. It follows a unique format that both explains what to do and demonstrates how to do it.

About the Contributors

Dr. Lee Swanson is an Associate Professor of Management and Marketing at the Edwards School of Business at the University of Saskatchewan. His research focuses on entrepreneurship, social entrepreneurship, Aboriginal entrepreneurship, community capacity-building through entrepreneurship, and institutional-stakeholder engagement. Dr. Swanson’s current research is funded through a Social Sciences Humanities Research Council grant and focuses on social and economic capacity building in Northern Saskatchewan and Northern Scandinavia. He is also actively studying Aboriginal community partnerships with resource based companies, entrepreneurship centres at universities, community-based entrepreneurship, and entrepreneurial attitudes and intentions. He teaches upper-year and MBA entrepreneurship classes and conducts seminars on business planning and business development.

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Majors & Minors

There are four major pathways and two minors in the Department of Economics:

BA in economics

BA in economics, business economics emphasis

BA in economics, quantitative emphasis

BS in economics

Minor in Economics

Minor in Econometrics

What is the Economics Major?

The Economics major(s) expose students to economics principles and theories, and to economics fields and practices at the cutting edge of research. It is a quantitative social science major that models economics phenomena carefully and rigorously by relying heavily on quantitative tools. Students learn to analyze data to understand economic issues, communicate economic concepts and ideas, and think critically to solve economic problems. The department is composed of enthusiastic and motivated students, faculty, and staff from all over the world, united by our fascination with economics. 

The primary difference between the four major pathways is the amount of Math and Statistics courses and the types of electives students are required to complete. Students are encouraged to discuss the options with Economics Advising and consider academic strengths and professional interests in choosing a major pathway. 

The Department also offers two minors; the Economics minor and the Econometrics minor. The Economics minor is geared towards students with general interest in Economics theory. The Econometrics minor is geared towards students with a quantitative and research focus.

Declaring an Economics Major or Minor

Students can declare at any point, however, we recommend declaring early in order to access departmental resources such as scholarships, networking and research opportunities, and academic support. 

There are three foundational courses required in order to progress into upper-level Economics requirements.

Foundational Courses: 

• MATH 1142 - Short Calculus or MATH 1271 - Calculus I
• ECON 1101 - Principles of Microeconomics
• ECON 1102 - Principles of Macroeconomics

**BA-Q, BS, or Econometrics minor students : need to take MATH 1271. Short Calculus will not count towards these majors or minor.

The declaration process is all done online through Canvas.  Click on the major or minor plan below and it will direct you to the Canvas module . If you have any questions in the meantime, email [email protected] .

Coming soon: you will be able to click on the major or minor plan below and it will direct you to the Canvas module . If you have any questions in the meantime, email [email protected] .

Once you are in the module, read through the pages, complete the quizzes, and fill out the declaration form at the end. Economics Advising will then submit the major or minor to be added to your APAS report.

BA in economics, business economics emphasis -  STARTING FALL 2024

• Farm finance
• Managing a farm

Get the 2024 Farm Resource Guide

The Farm Resource Guide for 2024 is now available at many local Extension offices . You also can download it for free .

This guide includes useful forms and farm business management information including:

• Custom rates: What to charge for planting, etc.
• Average farmland rental rates by county with projections for 2024.
• Flexible rental agreements and how they work. Lease forms for cash rent and share rent arrangements.
• Farmland sales information for all Minnesota counties.
• Charges for custom feeding, commodity storage, leasing buildings and bin rental rates.
• Pasture rental rates, tree timber values.
• Commodity price probabilities for corn, soybeans, alfalfa hay, straw, grass hay, hogs and cattle.
• Corn and soybean yields by county; used to calculate USDA farm bill payments.
• Feedlot rules for manure agreements and easements. Manure spreading lease examples and land application agreement forms .

A complete set of financial statements for agriculture include: a balance sheet, an income statement, a statement of owner's equity and a statement of cash flows. Learn how to use these in your farm business.

Learn what a balance sheet is and how it can help you understand your financial situation.

A balance sheet lists assets, liabilities and net worth as of a certain date.

View an example balance sheet.

Learn what terms on a balance sheet meet--such as current, intermediate and long-term assets.

An income statement measures profit or loss in a given length of time. View an example income statement and learn more about income statements including:

Steps in creating an accrual adjusted income statement.

What you can learn from an income statement.

The statement of owner's equity is a financial statement that analyzes why a farmer’s net worth (or owner equity) changed over the past year.

The statement of owner's equity is divided into three groups, each examining an individual portion of a farm’s financial life: earnings, things that don’t happen every year, and changes in capital assets and deferred liabilities.

The statement of cash flows examines how cash has entered and left your financial life during the year.

Understand the difference between cash flow and net profit.

Create your own statement of cash flows to examine different sources and uses for cash.

In the last few decades, much progress has been made to standardize financial statements in agriculture. This allows for ratios and measurements commonly used in other industries to become standard in the farmer’s financial world.

Key ratios and measurements covering liquidity, solvency, profitability, repayment capacity and efficiency have become standards in the agricultural industry and are generated from these financial statements.

Learn about different ways to measure liquidity, solvency, profitability, repayment capacity and efficiency.

Learn about different ratios including current ratio, debt to equity ratio and others.

Benchmarking is a process that makes it possible to research your farming business to find opportunities to improve your financial position, efficiency and profitability.

Learn more about how to interpret financial statements and measures.

The 2019 FINBIN report on Minnesota finances  (PDF) includes information about the state of agriculture in Minnesota. 

• Profitability
• Debt repayment capacity
• Median net farm income including for crop and livestock farms

The 2,306 Minnesota farms included in the FINBIN database represent a broad cross-section of Minnesota production agriculture. FINBIN data is provided by farms that participate in Minnesota State Farm Business Management Education programs and the Southwestern Minnesota Farm Business Management Association. 

• View 10-year average, past year actual, and this year's projected data of income and expenses in crop budgets for southern, central and northwestern Minnesota.
• Copy the acceptable crop price worksheet  to your workspace to determine breakeven prices for your crops. You can also download a PDF version .
• View averages for Minnesota corn and soybean yields . Data includes the five-year averages for counties, regions and the state.

Prevented planting: Crop insurance and tax considerations   — Options for farmers with federal crop insurance who have not been able to plant by a given crop's final planting date or have drowned out areas in fields.

What does it cost to own and operate farm machinery? Machinery costs are substantial; control of them is important.

• View document with machine costs separated into time-related and use-related categories.
• Download the Farm Machinery Economic Cost Estimation Spreadsheet (Contains macros. To make the macros operate properly, you will need to save the spreadsheet to your computer and open it. Click the "Enable content" button when prompted. Requires Excel 2007 or later.)

Regardless of the reasons you may be considering cover crops, you need to be able to pay for them and ideally get a return on your investment. This tool is designed to help farmers analyze the potential cash flow over multiple years associated with adding cover crops to your corn-soybean rotation. The tool provides both single-year analysis and a 5- and 10-year analysis.

• The decision tool assumes a corn-soybean rotation and analyzes a single field. It is not a whole-farm analysis.
• All costs are calculated on the per-acre level.
• On the “Field Information” tab of the spreadsheet, the calculations on the right portray the economic impact of cover crops in year 1 of establishment.
• The bottom of the worksheet calculates the multi-year economic impact, considering the net present value of both 5-year and 10-year spans.
• A detailed look at the multi-year analysis is on the final worksheet of the spreadsheet.

What’s behind the numbers?

Cash crop yield benefits due to the cover crop are calculated in the multi-year analysis according to the yield increases calculated by Sustainable Agriculture Research and Education (SARE). See SARE's analysis of the economics of cover crops .

Net present value is the sum of each year's cash flows, discounted by a 2.5% inflation rate to account for money's decreasing value over time.

This video series explains how to use the tool

Introduction to using the tool (video: 02:26).

Entering data (video: 07:22)

Decision tool examples (video: 11:46)

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Undergraduate Major & Minor - Entrepreneurial Management

This major is designed for students who are interested in starting a new business ( entrepreneurship ), helping existing organizations to develop new business opportunities ( intrapreneurship ), or creating positive social impact through the development of new ventures ( social entrepreneurship ). Curriculum is designed to range from introductory problem-solving concepts and self-exploration through the development and implementation of real business opportunities with a broad range of elective courses from across campus. The objective is to provide experiential and applied learning opportunities that develop the mindset, skills, and competencies that enable students to create their own opportunities and function as entrepreneurs or as innovative leaders in entrepreneurial or high potential firms.

Major Curriculum

View the full Entrepreneurial Management Major catalog:

Minor Curriculum

View the full Entrepreneurial Management Minor catalog:

Entrepreneurial Management Minor Program Requirements & Course Descriptions

Four-year Plan

Entrepreneurial management major sample plan.

The APAS is the official method for tracking the completion of your specific degree requirements. Please be aware that there are multiple ways for students to progress through this major. This is just one sample. Students should work with their advisor to develop their individual plan.

Italic: course pre-requisites and co-requisites (designated by &)

Bold: Liberal Ed requirement

Freshman Year

Fall Semester

• Econ 1165 Business Economics ( Soc Sci ) (4cr)
• BA 2551 Business Statistics in R ( Math ) (4cr)
• BA 1011 Leading Self & Teams (2cr)
• BA 1021 Design Your Life (1cr)
• Writ 1301 First Year Writing (4cr)

Spring Semester

• Acct 2051 Financial Reporting (4cr)
• BA 2051 Solving Business Scenarios in Excel (2cr)
• BA 2062 Powerful Problem Solving (2cr)
• Design Your Career (1cr)
• BA 2005 Corporate Responsibility & Ethics ( Civ ) (3cr) 
• Liberal Ed (3-4cr)

15-16 credits

Sophomore Year

Maroon Block I-Core

• Mktg 3001 Principles of Marketing (3cr)
• IDSc 3001 Information Systems & Digital Transformation (3cr)
• BA 3001 Race, Power, & Justice in Business ( RPJ ) (3cr)
• Acct 3001 Strategic Management Accounting (3cr)
• BA 3051 Data-Driven Business Decisions ( BA 2551 & BA 2051 ) (3cr)

Gold Block I-Core

• Fina 3001 Finance Fundamentals ( Acct 2051 & BA 2551 ) (3cr)
• Mgmt 3004 Strategic Management (3cr)
• SCO 3001 Sustainable Supply Chain Management (3cr)
• HRIR 3021 Human Capital Management (3cr)
• BA 3062 Impact Lab Project ( BA 2062 ) (2cr)

Declare a major:  z.umn.edu/CarlsonDeclare

Junior Year

• BA 3551 Business Analytics ( BA 2551 & BA 2051 ) (3cr)
• Mgmt 3015 Introduction to Entrepreneurship (4cr)
• Liberal Ed (4cr)
• Liberal Ed (3cr)
• Elective (2cr)
• Mgmt 4008 Entrepreneurial Management ( Mgmt 3015 ) (4cr)
• BA 3033W Business Communication (3cr)
• Entrepreneurship elective (4cr)

Senior Year

• Mgmt 4055 Managing Innovation & Change (2cr)
• Entrepreneurship elective (2-4cr)
• Elective (4cr)

12-14 credits

• Mgmt 4175W New Business Feasibility & Planning ( Mgmt 3015 ) (4cr)

13-15 credits

Total Credits Needed for Degree: 120

Note: Students must complete an international experience as part of the program requirements. Short-term programs or semester-length programs may be used to meet this requirement. Explore your options: z.umn.edu/CarlsonIE

• Courses may not be double-counted in both the required and the elective categories.

Holmes Center for Entrepreneurship:

The Holmes Center is the hub of entrepreneurship and innovation at the University of Minnesota that inspires, educates, and connects the next generation of Minnesota’s entrepreneurs.

FIND MORE INFORMATION ABOUT THE HOLMES CENTER

Entrepreneurs must understand first and foremost what it takes to manage and run a successful business. Entrepreneurs often wear many hats in their company and must accept leadership and responsibility for all activities that take place. It's their job to develop a business plan and course of action for the company, and to be familiar with the industry. They often work directly with their customers on a day-to-day basis.

While a small number of students start their own businesses directly upon graduating from the Carlson School of Management, the majority choose to gain experience first by working for an organization. Positions such as consulting or account management provide multi-faceted, strategic experience. Participation in the course Entre in Action, provides students with real-life experience starting a business, and has resulted in sustainable businesses.

Sample careers for Entrepreneurial Management majors:

• Project Manager 
• Content Creation Manager
• Business Development Associate 
• Marketing Manager
• Consultant 

Companies/Orgs that hire Entrepreneurial Management students: 

• Procter and Gamble 
• Ovative Group 

FIND MORE ENTREPRENEURIAL MANAGEMENT KEY CAREER INFO

Contact Undergraduate Program

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to submit an obituary

To place an obituary, please include the information from the obituary checklist below in an email to [email protected] . There is no option to place them through our website. Feel free to contact our obituary desk at 651-228-5263 with any questions.

General Information:

• Your full name,
• Address (City, State, Zip Code),
• Phone number,
• And an alternate phone number (if any)

Obituary Specification:

• Name of Deceased,
• Obituary Text,
• A photo in a JPEG or PDF file is preferable, TIF and other files are accepted, we will contact you if there are any issues with the photo.
• Ad Run dates
• There is a discount for running more than one day, but this must be scheduled on the first run date to apply.
• If a photo is used, it must be used for both days for the discount to apply, contact us for more information.

Verification of Death:

In order to publish obituaries a name and phone number of funeral home/cremation society is required. We must contact the funeral home/cremation society handling the arrangements during their business hours to verify the death. If the body of the deceased has been donated to the University of Minnesota Anatomy Bequest Program, or a similar program, their phone number is required for verification.

Please allow enough time to contact them especially during their limited weekend hours.

A death certificate is also acceptable for this purpose but only one of these two options are necessary.

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We are not allowed to reference other media sources with a guestbook or an obituary placed elsewhere when placing an obituary in print and online. We may place a website for a funeral home or a family email for contact instead; contact us with any questions regarding this matter.

Obituary Process:

Once your submission is completed, we will fax or email a proof for review prior to publication in the newspaper. This proof includes price and days the notice is scheduled to appear.

Please review the proof carefully. We must be notified of errors or changes before the notice appears in the Pioneer Press based on each day’s deadlines.

After publication, we will not be responsible for errors that may occur after final proofing.

Payment Procedure:

Pre-payment is required for all obituary notices prior to publication by the deadline specified below in our deadline schedule. Please call 651-228-5263 with your payment information after you have received the proof and approved its contents.

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• The minimum charge is $162 for the first 10 lines.
• Every line after the first 10 is $12.20.
• If the ad is under 10 lines it will be charged the minimum rate of $162.
• On a second run date, the lines are $8.20 per line, starting w/ the first line.
• For example: if first run date was 20 lines the cost would be $164.
• Each photo published is $125 per day.
• For example: 2 photos in the paper on 2 days would be 4 photo charges at $500.

Please follow deadline times to ensure your obituary is published on the day requested.

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Unlike an obituary, Memoriam submissions are remembrances of a loved one who has passed. The rates for a memoriam differ from obituaries.

HOURS: Monday – Friday 8:00AM – 5:00PM (CLOSED WEEKENDS and HOLIDAYS)

Please submit your memoriam ad to [email protected] or call 651-228-5280.

Business | Ryan’s proposed redevelopment of Thomson…

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Today's Paper

• Government & Politics
• Environment

Business | Ryan’s proposed redevelopment of Thomson Reuters site in Eagan moves forward

Local real estate developer Ryan Cos. is one step closer to a comprehensive guide plan amendment that would change the land use designation for the 179-acre parcel in Eagan that formerly housed Thomson Reuters.

The city’s Advisory Planning Commission voted 6-0 Tuesday night in favor of recommending a land use change for the parcel from major office to a mix of light industrial and residential use.

As outlined in the developer’s proposal , 120 acres would be allocated to industrial use in the central and eastern portion of the site and could include a data center, research and laboratory spaces and an office showroom.

The remaining 59 acres would have a mix of housing types including townhomes, twin homes and single-family homes.

The proposal indicates that 35 acres at the southwest portion of the site would be marked low-density residential and could house 70 to 140 units, while the remaining 24 acres at the northwest portion of the site would be marked medium-density and house 80 to 180 units.

“There has been a dramatic shift in the office sector,” Peter Fitzgerald, vice president of real estate development for Ryan, said at the meeting. “There isn’t an office campus in the U.S., let alone in the state, that isn’t having to re-evaluate how they’re using their land,” he said.

Some Eagan residents who attended the meeting Tuesday voiced concerns about traffic congestion and pedestrian walkways along Elrene Road, which borders the site to the west.

“The amount of traffic that is generated from major office type of land use is, in rough numbers, twice as much as the rate that is generated from industrial land use,” said Aaron Nelson, an engineer for the city.

Other concerns from residents included the preservation of oak trees, duck ponds and green space in the area.

“You have a tree on the city of Eagan flag and, at the rate we’re going, we’re not going to have any trees left,” one resident said.

Two people who live near the property also noted concerns about an increase in park use at Wescott Station Park, located just south of the property, with the additional housing in the area.

Commissioner Brandon Block said he supports the proposal, adding “What else could they propose? High rise apartments? Heavy industrial? … What they are proposing does seem to fit well with this chunk of land.”

Next the proposed comprehensive guide plan amendment will be heard by the city council at the May 7 meeting.

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