Reading Time: 9 minutes We all know a farm in this situation. Mom and Dad always thought one of the children would stand up at some point and say, “I want the farm.” Now, the time has come for the parents to make retirement plans, and none of the kids is standing up. Or maybe it’s the flipside. Mom […] Read more
No one in the family to take over the farm
Where there’s no clear successor, more farmers are looking for ways to sell to a young or new farmer from outside the family. It’s rarely easy, but new listing services and new financial strategies may mean it’s possible
More together
Taking a group and multi-generational approach to upgrading their skills is paying off on the Woods farm
Reading Time: 5 minutes More farmers agree that the old saying has it about right: Failing to plan is planning to fail. It’s too easy to get off-course if you haven’t set your intentions and goals to paper. Besides, how do you track your success if you don’t have goals? Having completed a succession plan that lays the groundwork […] Read more
Looking ahead to farming’s future investment
For Adam Ireland, farming means more than just growing a crop, it’s doing things the right way
Reading Time: 7 minutes These days, describing what it means to be a farmer is almost as challenging as, well, being a farmer. Part science, part art form, the job description also requires an expert understanding of agronomy, commodity markets, weather, emerging trends and technologies, consumer demand, environmental issues… the list goes on and on. And as if that’s […] 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
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
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
Seamless transfers
This family farm corporation in Ontario has transferred four times since the ’60s and recently diversified with the purchase of a local grain elevator. Here’s how the VanSickles have done it, and the lessons they’ve learned along the way
Reading Time: 6 minutes Near the Grand River south of Brantford, Shawn VanSickle pulls under the shade of a big oak tree at the end of the field. He stops for a moment to reflect about how in 1966 his grandfather did something groundbreaking for the time — incorporated the family farm. Five decades later, G.H. VanSickle & Sons […] 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
The next farm generation steps up
On this farm, transition planning made real gains once the younger generation learned how to take their role in the process
Reading Time: 11 minutes Alec Boekhoven had turned over at 2 a.m., fretting about ways to reduce feed costs on his family’s 600-sow farrow-to-finish operation. Eventually he drifted off on the couch, which is where his son Evan discovered him and woke him up early. It’s why Alec brought his three-year-old with him to do chores, and it also […] 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[...]
Read more
Read more
A message from April Stewart, Country Guide's Associate Editor
