Vermont Agriculture Individual Development Account Program
The Center for Sustainable Agriculture's Youth Agriculture Individual Development Account program is gearing up to get started. We are seeking youth who are involved or interested in agriculture for a one-year program that will both help them save money towards the purchase of a business-related asset and acquire important business management skills.
Young farmers will exit the program possessing both seed capital and financial literacy skills- key components in establishing an independent enterprise or assuming more of a management role in the family farm operation.
Upon successful completion of the program, participants' savings will be matched at a rate of 2:1 (up to a total of $1,000 in match funding!), giving young farmers two program dollars for every dollar they save toward the purchase of a productive farm asset.
- The young farmer saves $500
- The program matches the young farmer's savings with $1,000
- This means a young farmer participant would potentially have $1,500 to use for an asset purchase
The program will provide structured financial literacy training, business management coaching and mentoring from qualified farm business management specialists and established farmers. Participants will develop basic skills necessary to leverage their equity, manage capital productively and be a successful entrepreneur.
Even more importantly, participants will leave the program armed with their business plan and the skills that can help them put that plan into successful action.
This project was supported by the Beginning Farmer and Rancher Development Program of the National Institute of Food and Agriculture, USDA, Grant #2011-49400-30589. To find more resources and programs visit www.Start2Farm.gov, a component of the Beginning Farmer and Rancher Development Program.