Benchmarks and business performance

Quick take:

  • Benchmarking is a familiar tool for measuring business and farm performance, and a range of different benchmarks can be used.
  • Focussing on one benchmark in particular may have a negative impact on overall business performance.
  • Use business benchmarks to assist with measuring business performance and testing the merits of business and enterprise expansion or other expenditure.

Michael Ryan, Booth Associates

IREC Farmers’ Newsletter – Large Area No. 191: Spring 2014. Read the full newsletter here.