Reading Time: 9 minutes “Farming is an important, low-margin business that has got to be fine-tuned like a guitar to make beautiful music.” This insight comes from Kim McConnell, someone who knows about business success — and how to make that beautiful music. After a long career in the agriculture industry, the former founder of AdFarm is still mentoring […] Read more
Build your farm with these entrepreneurial skills
Summer Series: Today’s farm owners need to be on top of their game like never before — and it all starts with the right skills
How to talk about your farm succession estate plans
Summer Series: Estate planning is never easy — and more difficult still is the conversations you need to have with your family. But these conversations can be a great opportunity to teach the next generation about money, family relationships and how to make decisions together
Reading Time: 5 minutes You’ve worked hard your whole life and lived within your means. Now, you want your estate to help the future generation succeed — not create problems or heartache for your family. But if you want your estate to create a legacy of positivity, you’ll have to proactively communicate your wishes through an estate plan. Like […] Read more
Taming monsters: When farm succession rears its head
Summer Series: With today’s access to capital and cost of land, many farms have grown beyond the point of “built to sell.” What happens when infrastructure and land holdings are too big for an exit strategy?
Reading Time: 2 minutes Family farms were less complex when I was growing up and farming in the 1980s through the early 2000s. Decisions were made in thousands of dollars, not millions. Summers were spent at the lake, not in the cab of a sprayer. It was a great way of life, one that shaped my attitudes and behaviours. […] Read more
Succession on the farm: Where to begin?
Summer Series: Thinking of farm transition as a short-term, quick deal that we must get right because we only get one chance can prevent us from even starting the process — and starting it off right
Reading Time: 3 minutes I recently polled farm managers about what big projects they were planning for this year. Half the respondents said succession was a priority; however, many indicated that they don’t know where to start. I look at it like this: if you’ve taken your child to the field, or they work alongside you, then you have […] Read more
Alternative financing options to cash flow your farm business
These days farmers have a lot more options when seeking alternative lending arrangements for farm business projects
Reading Time: 7 minutes As land values and input costs continue to rise, alternative lending is becoming more common. Farmers are looking for more creative and flexible options to finance their business expansion, transition or diversification projects. Country Guide explored some of the options available with the proviso that there is no one-size-fits-all-solution, just as there is no one-size, […] Read more
Alternative lending options for farm businesses
Previously often perceived as a last resort, alternative lending options can help farm operators navigate short-term challenges and get back to their long-term plan
Reading Time: 6 minutes Alternative lending has had a bit of a bad rap in the past. Alternative lending is a term for non-traditional methods or channels that finance businesses outside of the traditional finance system, such as banks. The past decade has seen an increase in the number of alternative financing options designed to meet each farm operation’s […] Read more
What is work worth?
Women’s work in the ag industry has long been under-recognized and undervalued. Has the industry finally advanced its collective thoughts and actions around this idea? Some experts say ‘yes’
Reading Time: 7 minutes For Tara Sawyer, the term “farm wife” has always been a point of pride. Sawyer, who farms with her husband, Matt, in Acme, Alta., always felt the term signifies partnership. “I have always taken great pride in calling myself a farm wife. I am a farm wife, and I’m a stay-at-home mom, and yes, I […] Read more
Creating off-farm revenue
Farmers have historically reinvested their earnings back into the farm. Today’s generation is planning for more
Reading Time: 3 minutes Generations of farmers prioritized reinvesting back into the farm instead of creating personal savings. But today’s generation is creating separation between farm and non-farm assets to minimize personal risk, position families for succession planning and increase family harmony. Family harmony and work-life balance Creating personal wealth outside of the farm plays a major role in […] Read more
Buying your first farm
Buying your first farm is a big deal, in more ways than one. Here are key factors to consider before signing on the dotted line
Reading Time: 3 minutes Many young farmers dream of buying a farm. The question is: How can you turn that dream into reality? The answer to that question raises more questions. Because there are several important considerations to think through very carefully before making that leap. To start your farm-buying path off on the right foot, let’s look at […] Read more
When farm plans fail
If you’ve been talking for years about planning something for the farm, maybe it’s time to look at why you’re stuck
Reading Time: 3 minutes “It’s been 10 years, and we still don’t have a plan.” If this sounds like something you’ve said to yourself, have you also asked, “Why don’t we?” Ten years talking about making a plan but still not having it written down, or not making any real changes in the way your farm operates, can be […] Read more
A message from April Stewart, Country Guide's Associate Editor
