Reading Time: 7 minutes It’s a fact that most families squabble. Individuals don’t always see eye to eye, and they can’t always work together. But if they can find a way, it can make a world of difference to the profitability and future of their farm — and the success of their relationships with each other. The Stepplers managed […] Read more
Manitoba farmers share their farm succession story
Transitioning the family farm can be riddled with challenges. The Stepplers have learned that working collaboratively offers a better chance of success for all
An evolving vision
First-gen farmers share their blueprint for business transition
Reading Time: 5 minutes When it comes to starting and growing a business, you’re only limited by your imagination. For Belmont, Manitoba first-generation farmers Lydia Carpenter and her husband Wian Prinsloo, it’s that type of unlimited, outside-the-box thinking that has become their regular way of thinking. Over the years, they’ve leveraged multiple income streams, a direct-to-consumer marketing beef business, […] Read more
How farmers can thrive in retirement
There isn’t a one-size-fits-all approach to retirement and planning ahead makes it much more enjoyable
Reading Time: 5 minutes For many farmers, being a farmer is part of their fundamental nature. It’s who they are and they can’t imagine a time when they won’t be a farmer. Who hasn’t heard a farmer say they want to die farming? But the reality is that many farmers will need to exit the business whether they want […] Read more
Planning for retirement: Lifestyle versus finances
Reading Time: 3 minutes Farmers might not think about retirement often, if ever. But the sooner you start to think about retiring, you can minimize the impact of the adjustment when the time comes. A retirement plan should be part of the conversation when creating a succession plan. The emphasis of succession planning is typically on transferring the business […] Read more
Starting succession right
If you’ve resolved to start transitioning the farm this year, these insights can help you get a strong start
Reading Time: 7 minutes It’s no secret that many farm and ranch operations facing the prospect of transition to the next generation feel stuck and unsure how to proceed. “We can’t emphasize enough that retirement is a significant life transition that comes with a rollercoaster of challenges and emotions,” write Robert Laura and Colleen Drummond in the Modern Elder […] Read more
Attracting the right kind of capital in agriculture
Capital is required to grow the farm business but sometimes it takes an innovative approach
Reading Time: 2 minutes Agriculture’s future will rely on attracting capital. In the past, capital typically came from banks or family. But the changing demographic of farmers and farmland owners means that many farms and a tremendous amount of farmland will change hands over the coming decade. To add to the list of challenges, inflation and farmland appreciation has […] Read more
Diversifying the farm helps build a new business
Who has time to manage a bigger, more diversified farm? The Boldts found how to say, “We do!”
Reading Time: 11 minutes When Melanie Boldt pivoted her business from a grain farm to the first vertically integrated meat producer and market in Saskatchewan, she took a “just do it” approach and leaned into the challenge to change, diversify and expand her family farm. That was 26 years ago, and looking back, Boldt says she’s not sure she […] Read more
Legal considerations when transferring farm assets
Every farming operation is different and poses its unique challenges and considerations
Reading Time: 5 minutes The transferring of the land, buildings, equipment and quota that make up the farming operation can be thought of as the “meat and potatoes” of transition planning. Typically, once a plan has been developed for succession, there are assets that need to be transferred from one generation to the next. This can take the form […] Read more
Sharing your farm’s story with the next generation
Share your farm’s history and stories about your own early years to give succession a boost
Reading Time: 5 minutes Transitioning the farm to the next generation is an emotionally loaded process. Sometimes, not surprisingly, it can get bogged down and no one really knows what to do to get things moving again. This is a pattern Humboldt, Sask. farm succession coach Patti Durand has ofen seen when working with 350 farm families from across […] Read more
Setting up your retirement goals
Decisions to make in your 40s, 50s and 60s
Reading Time: 5 minutes Every farmer will need an exit strategy, whether you’re looking forward to it or not. Age, health and family issues won’t wait forever. Besides, being proactive now can save tons of stress and family conflict and potentially thousands of dollars later on. It will make you happier too. So isn’t that worth thinking about? In […] Read more
A message from April Stewart, Country Guide's Associate Editor
