Business Risk Management
Ninety-seven per cent of Canadian farmers are family-run. Like any family business, Canadian farmers invest a lot in their operations. Every Canadian farmer deals with varying types and levels of risk, be it weather variability, insects, input prices or market fluctuations.
Strong Business Risk Management (BRM) programs provide a reliable safety net and help create an environment where farmers have the confidence to make necessary investments in their future. These programs help farmers manage risk in their operations from severe weather, pests, and poor market conditions. GGC is working with its members, provincial and national organizations and government to develop more reliable, predictable, and bankable programs that meet the needs of Canada’s grain sector.
Every Canadian farmer deals with varying types and levels of risk, be it weather variability, insects, input prices or market fluctuations.
Business Risk Management Resources for Farmers
Currently, four BRM programs serve farmers:
AgriInvest is one of the Business Risk Management programs under the Canadian Agricultural Partnership (CAP) five-year, $3 billion investment by federal, provincial and territorial governments to strengthen the agriculture and agri-food sector.
AgriStability is one of the business risk management programs under the Canadian Agricultural Partnership. It protects Canadian producers against large declines in farming income for reasons such as production loss, increased costs and market conditions.
AgriInsurance is a federal-provincial-producer cost-shared program, delivered provincially, that stabilizes your income by minimizing the economic effects of primarily production losses caused by severe but uncontrollable natural hazards.
The AgriRecovery Framework is part of a suite of federal-provincial-territorial (FPT) Business Risk Management (BRM) tools under the Canadian Agricultural Partnership. AgriRecovery is an FPT disaster relief framework intended to work together with the core BRM programs to help agricultural producers recover from natural disasters.