Skip to main content

Small Businesses

All Small Businesses Content

A group of employees working as a team at a meeting.

Community Vitality Newsletter

SDSU Extension's Community Vitality Newsletter includes resources to enhance communities and improve their capacity to flourish.

Lemmon SD, A busy Main Street during the 2019 Energize Conference

Energize! Conference Creates an Economic Impact for Lemmon, S.D.

In late spring 2019, SDSU Extension hosted the second annual ENERGIZE! Exploring Innovating Rural Communities Conference in Lemmon, South Dakota. This conference brought an estimated $25,802 to the local Lemmon economy during the two-day event.

A crowd of Energize Conference attendees enjoying refreshments served in a local art gallery.

Successful Energize! Conference Buoys Community Efforts in Lemmon, S.D. and Beyond

Cool, rainy weather in Lemmon, S.D., didn’t dampen community spirit on April 30 and May 1, 2019, when the North-Central community hosted the state’s Energize! Conference with facilitation by SDSU Extension’s Community Vitality Team.

A pen and calculator sitting next to an accounting binder.

Bookwork, The Missing Management Component: Consistency of Financial Records

Consistent record keeping will allow for accurate ratios and trend analysis. While operations will change, grow, or contract, having a standard operating procedure will allow for analysis and decision-making.

A male with three female farm administrators reviewing a binder of financial records. Courtesy: USDA

Bookwork, The Missing Management Component: Balance Sheet Valuations

The financial crash of the 1980’s has been attributed to changes in producer’s balance sheets, due to a decline in land prices. After this time, a two-column balance sheet was developed to help prevent that type of balance sheet collapse from occurring in the future.

Farmer sitting inside the cab of a green tractor parked inside a machine shed.

Bookwork, The Missing Management Component: Depreciation Determination and Use

Another component of determining net income is depreciation. This is one component of the Schedule F that many understand the least. Typically, the most use it gets is to minimize income tax through accelerated tax depreciation under section 179.

IRS Schedule "F" Form, Profit or Loss From Farming

Bookwork, The Missing Management Component: Farm Income Determination

Many ag producers do not like bookwork. Many times this job gets pushed to the side, until a bill is due or taxes need to be filed. It is also fair to say it is a missing component to the management of most operations. A missing component that could lead to the collapse of the operation.

Graduation table display with photos, awards, and keepsakes. Courtesy: Matthew Beckler [CC BY-SA 2.0]

Graduation Presents

College and high school graduates have, or soon will be, walking across the stage and shaking hands President and receiving their diplomas. This act officially moves them on to the next stage of their lives.

inside a licensed fish hatchery

Selling Fish at a Farmers Market in South Dakota

This article was developed to address some of the questions around selling fish at the farmer’s market and to ensure that seller’s may be well-informed to ensure they are selling fish that meet regulatory requirements as well ensuring the product is safe.

A small town main street.

Energize! Conference Keynote Speaker to Share Ideas for Rallying Rural Communities

April 15, 2019

Brent Comstock, a rural Nebraskan, is the founder of one of the most successful rural-based tech companies in the Midwest. He will be the keynote speaker during the 2019 Energize! Exploring Innovative Rural Communities Conference, held in in Lemmon April 30-May1, 2019

Community Leadership, Entrepreneurship, Developing Communities, Small Businesses, Business Development