A recent survey of Victorian vegetable producers identified profitability and cost of production as high priority issues for growers, second only to water. Knowing your cost of production is critical to help make the best management decisions for your business, as it provides a measurable way of assessing the cost of producing a product, and the price you are willing to accept for that product. One effective way of assessing your business profitability is to participate in a business benchmarking and cost of production exercise.

Benchmarking: measuring your business to manage performance