Farm Table says:
This MLA online template provides an example of a partial budget to plan, cost and test modest investment projects, and changes to operating procedures that will impact on enterprise budget if implemented.
You will have to pull information from your current situation and assemble details of the proposed change.
MLA provide three critical goals of any decision to change enterprise investment strategies:
- it makes a good marginal return to capital over and above alternative less risky uses of capital, such as off-farm investment
- any additional investments in the farm go into the area of next highest return on marginal capital invested
- investments must increase the current rate of return, or significantly reduce risk. It won’t do this unless its marginal rate of return is higher than current return on total funds invested