The Rural Voice, 1986-02, Page 11"1 am not the least bit concerned
with our reputation in the banking
community as long as they
recognize we deal with things fair-
ly." He adds, with some emphasis:
"We do not consider ourselves as
part of the establishment."
In addition to his business deal-
ings with farmers, Philips has
twice gone to Ottawa to lobby for
more action on the financial crisis
facing farmers. He often speaks at
farm conferences, such as the
Masters of Our Destiny Con-
ference last spring, where he called
for long-term credit at affordable
interest rates and better prices for
farm commodities.
"For far too many years, the
farmer has accepted far too small a
return for the magnitude of his in-
vestment and the incredible
amount of work that he does,"
says Philips. The solution, he
adds, is that government must get
involved so that farmers can make
a reasonable profit. "I think it's in
our national interest to have an
agricultural policy that can supply
the majority of our own needs."
Eventually, when the agri-
cultural economy improves, Ron
Philips hopes the Kingsmount
team can work "in a much more
positive aspect of agriculture."
With that end in sight, staff are
constantly updating the firm's
computers and honing their farm
planning skills.
Until that bright new tomorrow
arrives, Kingsmount staff will con-
tinue to act as trouble-shooters
between farmers and their
creditors.
"All people get when they hire
us is our best effort," says
Philips. That effort hopefully lets
the farm family realistically assess
their situation. It also helps them
leave farming with their dignity in-
tact so that they can build a new
life. ❑
ADVISORY TEAM TAKES AN
OBJECTIVE VIEW
Farmers who feel the time has
come to get an objective view-
point on their operation's finan-
cial future might want to take ad-
vantage of the Farm Financial
Advisory Service. Set up in 1983
by the Ontario Federation of
Agriculture, over 100 advisors
around the province are available
to counsel farmers facing finan-
cial difficulties.
In Huron County, Steve
Thompson of the Clinton area is
a member of the federation's ad-
visory team. Thompson, who
holds a Master of Business Ad-
ministration degree, taught at the
University of Guelph in the
1970s. He is now farming north
of Clinton and operates a farm
bookkeeping service in the winter
months.
Thompson says that the advan-
tage of the advisory service is that
it allows the farmer to talk to
someone who isn't in the financial
hierarchy. In the past three years,
Thompson has met with 10 to 12
farmers in the county, which ad-
mittedly means "the service has
not been well -used." Thompson
believes this is because farmers
are reluctant to tell their financial
affairs to an outsider or because
they feel that "they are the ar-
chitect of their own failure."
That's not the case, says Thomp-
son, noting that even major com-
panies like Dome Petroleum have
fallen on hard times in the cur-
rent economy.
To arrange a meeting with
Thompson or volunteers in other
counties, contact the local
Federation of Agriculture or call
Leslie Ballantine, the program's
co-ordinator, at the federation's
Toronto office.
Thompson says that when he
visits a farm he usually sits down
with the farmer or farm couple
and comes up with a cash flow
analysis. Sometimes, as a result
of that cash flow chart, Thomp-
son will recommend that the
farmer contact a professional con-
sulting firm like Kingsmount
Financial Services Ltd. Or, after
listening to the farmer's tale, he
might suggest either a change in
the farming operation or that the
farmer try to find an off -farm
job to supplement his farm in-
come.
This initial meeting is at no
cost to the farmer, and the Huron
County OMAF office generously
pays Thompson's mileage costs.
The meetings, says Thompson,
are useful in that "sometimes a
fellow simply needs something re-
packaged a bit."O
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