Group taught financial planning skills

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Women in the dairy industry swapped the cowshed for the classroom last week to gain some invaluable financial knowledge.

About 60 women attended a Dairy Women's Network practical workshop designed to help them develop better financial planning skills.

Seminar leader Claire Harvey took participants through a range of skills to help them create a budget and cashflow, review their cash situation and use the knowledge to benchmark their business against others.

They were involved in the running of multimillion-dollar businesses and the knowledge they gained by using those skills would help them reach their goals quicker, she said.

Identifying and budgeting for expenses such as tax bills or fertiliser costs could help them plan better and make more informed decisions.

Network chairwoman Robyn Clements said the seminars were designed to empower women so they knew where to get the necessary financial information and how to collate it in a way that gave them greater control over their business.

"Having that knowledge and having more skills should lead to a better outcome for the business. Because they're such big businesses it's quite significant if they don't have the skills."

Some women were in control of their accounts and were looking to expand their knowledge, while other were at the early stages in their careers, she said.

Network general manager Lynda Clark said budgeting and cashflows did not have to be dirty words. The organisation wanted to give women the confidence to make the best decisions for their business.

- © Fairfax NZ News

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