At this special time of year when we gather around the table with our family, we often reflect on the year that has passed, the positive and negatives and begin thinking about what next year could hold. In the agricultural space, we sometimes overlook the next generation, where they ‘fit in’ to the family business.
Passing on the management of farming assets to the next generation is often a complicated process. Many families have trouble navigating the various financial and emotional barriers along the way. In some cases, the older generation avoids even discussing the prospect of handing over. Many of the next generation are tertiary educated now and they can have really good attributes to bring into the family group.
Impact Ag acts as a third party and can assist with planning and provide tools to enhance your business decisions. We listen and understand the strengths and weaknesses within the family group, making sure everyone’s voices are heard, alleviating emotions.
Students from McGill University in Canada, were asked how could family farms improve the way they operate, and help integrate the next generation? The answers could be exactly what your children are thinking too. They are the next agricultural ‘commodity’. Read the story here