Reading Time: 5 minutes All farmers, no matter where they farm in the world, share certain characteristics. They are all born worriers, and they all have lots to worry about — weather, crop prices, markets. And on top of the day-to-day production issues, and the management challenges involved in running today’s complex farm operations, farmers also have a lot […] Read more
The ‘succession effect’
Setting transition as a goal for your farm can spur growth and profitability, until about three-quarters of the way through
Get over it
When succession talks start, it doesn’t take long for Dad to think everyone just wants to cut him down to size
Reading Time: 7 minutes It’s impossible to think about the transition of any business — and perhaps more so the family farm — without talking about the governance structure that is going to allow that farm business to operate, thrive and be sustainable for generations to follow. It’s easy to find. Just look for the fireworks. “The flashpoints usually […] Read more
Who controls the purse strings on your farm?
By the time the parents hit their mid-60s, financial decision-making should be in the hands of the next generation. Really!
Reading Time: 5 minutes Two decades ago, U.K. professor Andrew Errington identified three stages of farm transfer: succession, retirement and inheritance. He defined succession as the gradual handing over of managerial control. Retirement was the owner withdrawing from active participation in the business of the farm, and inheritance was how the assets were finally signed over to the successor. […] Read more
Impressing Mom and Dad
There’s more reason than ever for farm kids to prove to Mom and Dad that they’ve got what it takes to be trusted with the farm. Question is: do the kids realize it?
Reading Time: 10 minutes Transitioning the family farm to the next generation is never easy. But how much harder when the parents have their doubts whether their next generation has the skills or the personality to manage the operation? On more and more farms, the wise thing would be for the kids to set out to prove to Mom […] Read more
Seven rules of behaviour for family farm teams
When the next generation comes home, Elaine Froese says families can set up some rules of engagement right away so everyone knows and can operate within that culture. When new people join the team, it can help to clarify expectations. “Culture is the invisible glue that holds the farm and the family together. It is[...]
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Pay your Millennials right
Too much? Too little? What’s the right compensation for the kids coming back to the farm?
Reading Time: 7 minutes Figuring how to compensate Millennials can be like driving through a snowstorm. You can’t see what’s ahead, there’s a very real possibility that you’ll hit the ditch. And yet you’ve got to get there. Country Guide caught up with New Brunswick farmer and consultant Cedric MacLeod as he was driving home through a snowstorm. At[...]
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Courting disaster
When farm families end up in court, winners are few and very far between. Still, more and more families are ending up before a judge
Reading Time: 10 minutes The British press has given Welsh farmer Eirian Davies her own nickname, the “Cowshed Cinderella,” even though the court case that she brought against her parents, claiming they had reneged on a promise that she would inherit the family dairy farm, certainly didn’t have a fairy-tale ending. When the courts awarded a C$2.2 million settlement[...]
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Transition to better communication
How better succession planning can lead to better decision-making and less conflict
Reading Time: 8 minutes Too many times, farm succession planning starts with a series of useless, dead-end and sometimes volatile meetings. Someone erupts into tears, someone else mutters some nasty words in anger and frustration and all our hopes crash in flames. No wonder we are afraid of stirring up this toxic mess of emotions. We’re supposed to be[...]
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Get more for your farm family
Reading Time: 3 minutes I have been the witness to several successful farm operations over the last number of years. I count myself lucky as someone who gets to see what innovation, smart business practice and communication can achieve on family farms. The majority of what I see doesn’t surprise me. And it frustrates me when people act surprised[...]
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Incorporation pushes farms into higher gear
With 30,000 incorporated farms on 50 million acres, farm incorporation is on the rise in Canada, and not just because of the tax savings. In fact, these other benefits can be even more valuable
Reading Time: 4 minutes Somewhere between loading trucks and getting ready for seeding on his family’s farm near Fort MacLeod, Alta., Stephen Vandervalk stops midway through our conversation, breathes deeply and tilts his head. “I can’t even imagine trying to operate without a corporation,” he says. “How could we compete to buy land at 35 to 45 per cent[...]
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A message from April Stewart, Country Guide's Associate Editor
