Date Posted: 5/6/2012 4:39:11 AM
Posted By: Ronkip08@yahoo.com Membership Level: Gold Total Points: 1949
Record keeping is an essential tool to any business or activity. In the present day farm operations are becoming more and more business oriented, but remember being a good producer is no longer enough to remain in business. The key to becoming a successful farmer today is being a producer as well as good financial manager. Its also an essential for a farm manager to keep good, accurate records and establish a sound record keeping system. Record keeping plays an important and major role in any business regardless of the size,nature or type of business, thus a good entrepreneur must be a good record keeper but unfortunately majority of Kenyans especially those in farming business don't keep records at all. Below are the benefits/importance of keeping farm recordsa) It help the farmer or manager in planning improvement for the business and making proper management decisions. b) It helps in planning and implementing farm business arrangements. c) Helps to determine what the efficiency are,measure progress of the business and plan for the future. d) It helps in accessing credits such as loans,farm implements or inputs.e) It acts as future reference such that in case of misfortunes any predecessor can take over without any difficulties. f) Farm records assist farmers in keeping a track of both performing and non-performing farming ventures.g) Helps the farmer in making productivity projections for the venture.Since we have seen the importance of record keeping lets put them into practice and we shall be successful in whatever business activity we are undertaking. Never under estimate your business whether its small or big records are very important.ALL THE BEST TO ALL ENTREPRENEURS.
Next: Causes of Unemployment in KenyaPrevious: Factors leading to the growth of Kisumu as a lake port.
Get premium membership