Category: Succession Planning

The agriculture industry is fully aware that successful farm transition is not easy and comes with many potential barriers. Every family farm business is unique, but based on a new RealAgristudies study looking at farm transition, there are some common challenges to work through. 588 farmers across Canada responded to questions about farm transition as… Read More

Farm business transition is not a new challenge or opportunity for the agriculture industry, but there’s been an increased level of coverage and discussion about it in mainstream media following a well-publicized report by RBC highlighting the challenges earlier this spring. At RealAgriculture and RealAgristudies, we are very interested in this topic and how it impacts… Read More

If you are a farmer or farm business owner, succession planning is a critical process that you cannot afford to overlook. Succession planning involves transferring ownership and management of your farm business to the next generation, and it is essential for ensuring the long-term viability of your business and your family’s financial future. In this… Read More

Planning for the next generation to potentially take over or deciding what comes next for your farm business can be very tricky. Not as tricky as not having a plan, however, so even if the farm business is pretty young, it still pays to ask some key questions. Trevor MacLean, a partner with MNP’s agriculture… Read More

It’s a stressful world out there, there’s no doubt about it. Whether it be personal stress, emotional stress, or financial stress…the list goes on. One of the stressors we do have some power to dial down a bit, says Stuart Person, senior vice president of MNP, is financial stress. This can be done through three… Read More

Each year, Canadian Cattle Young Leaders (CYL) selects 16 program participants ages 18-35 from across the country and offers industry networking, travel, and skill building opportunities. A focal point of the program is matching participants with a hand-picked mentor in their specific area of interest in the Canadian beef industry for a nine-month mentorship experience…. Read More

For those who have recently been through a farm business transition, thinking about doing it again might seem like an unpopular idea. But Ron Krahn, farmer from western Manitoba, says that with so much of the farm succession talk being focused on the exiting generation, tax planning, and life insurance, for the last 20 years,… Read More

Statistics Canada tells us that the average age of farmers is increasing. Of those farming in 2021, 60.5 per cent of farm operators were 55 years and up. Instead of looking at it as an unstoppable march to the older generation’s demise, let’s think about it from the standpoint of a chunk of the farming… Read More

There’s no denying that farming is a string of tough decisions, from managing finances, inputs, and equipment, to deciding rotations, and managing pests and disease. However, something that perhaps takes the cake for difficult decisions and conversations is farm succession as a whole. Not only are there big business decisions to be made when developing… Read More

As autonomy and emerging technologies take centre stage in agriculture equipment, MNP is shining the spotlight on the importance of the basis of ag-tech: data collection and tracking. Andrew Van Os, field optimization program lead with MNP, was a keynote speaker at Ag in Motion 2022 and says comparing data year-over-year, such as soil samples… Read More