Huddle Notes from December 21st, 2020

    By
    Zacary Smucker-Bryan
    -

    The huddles this month focused on additional COVID-19 relief funding, the Food Finance Institute’s most recent events, and fundamental changes caused by the pandemic. Check-out the recording here.

    Talking Points

    • COVID-19 relief funding
      • PPP – more funding available!
      • Stimulus – up to a $600 relief check for many Americans
      • Rental assistance is back
      • $300 extra on unemployment
      • Ag – 13 billion
      • Education – K-12 additional assistance
      • Roadways and Amtrak receiving funding
      • Ending surprise medical billing
      • Provision – a cost of meals is a deductible again
      • No funding for state and local governments though… Yikes!
    • First Edible-Alpha® Live! Event
      • Presenting Businesses: Farms and food companies – all had social or regenerative social impact dimensions that are front and center in their business models.
        • Also, a part of a coaching cohort over the past year, receiving 1-on-1 coaching from Tera as well as monthly group meetings.
      • Famous Founder Interviews with
      • Interview with Briana Warner of Atlantic Sea Farms; an amazing example of regenerative agriculture with kelp
      • Check out the recordings, which will be released over the coming weeks, on our Edible-Alpha® YouTube channel! Tera’s keynote is available now for viewing!
    • Scenario Planning Workshop
      • Piloted virtually with 10 companies which worked very well with great progress made by businesses; Eric DeLuca facilitated, certified Scenario Planner.
      • Look at the external environment for drivers in the economy and where the uncertainties are coming from to drive your strategy
    • Resilience
      • Foresight – anticipate things before they happen from strategic thinking
      • Manage your investment portfolio by diversifying with supply chain, customers, geography terms, processors, relationships (Don’t have a brand that is so narrow that it’s only from your farm, add in flexibility)

    Trends

    • Major disruption in the international food supply chain
      • The UK has a more contagious mutation which is out of control in London
      • 25% drop in food imports, most food comes from southern Europe
    • Fundamental changes to businesses due to COVID-19
      • 4700+ companies are cutting back on real estate costs over the next year – space they have and negotiating rent costs
      • Some companies will be cutting employee pay for those who moved from a more expensive area to a less expensive area (ex: NYC to Albany)
      • What will the impacts for food businesses be if people don’t return to cities? If Millennials continue to cook at home and no longer want grab-and-go snacks?
      • Risk mitigation with diversification in business models – not purchasing everything from the same place
    • Cliodynamics – applying math to history
      • Quantifying the rise and fall of empires over time
      • Research shows you can predict the fall of empires based on the degree of income disparity and the degree of political disfunction

    Tips & Next Steps

    • Scaler Series Monthly workshops can help your food and farm clients 
      • The FFI Scaler Series offers food and beverage businesses the flexibility to learn how to successfully grow their business, one virtual workshop at a time. Enrollment is free for 2020-21 training, brought to you by funding from the Small Business Administration.
      • Topics and dates include:
        • Sales and Distribution Planning | Jan. 14, 2021
        • Marketing and Branding Planning | Feb. 4, 2021
        • Operations and Organizational Planning | Feb. 24, 2021
        • Sources and Uses of Capital Planning | March 18, 2021
        • Food Safety and GFSIPlanning | April 15, 2021

    Contact Us: info@foodfinanceinstitute.com

    Listen to our Podcast | Sign up for our Newsletter | View Training Opportunities

    RELATED ARTICLESMORE FROM AUTHOR