Agriculture groups are among more than 40 national organizations that have formed a coalition to fight the federal government’s proposed tax changes for incorporated businesses. The Coalition for Small Business Tax Fairness sent a letter to Finance Minister Bill Morneau asking him to take the proposal off the table. “In ten years at the Canadian… Read More

The process of transitioning a farm business from one generation to the next is often filled with obstacles and patches where progress seemingly bogs down in the mud. Generally, the stickiest areas are the ones that come with the potential for conflict, explains farm family business coach Elaine Froese, in the interview below. “The two biggest things… Read More

We’ve all heard the horror stories of intergenerational transfer, but, says beef producer and lawyer Ryan Scorgie, it can actually work out, provided families are willing to navigate through some challenging waters. “One of the challenges we’ve seen in this industry is people don’t necessarily look at ranching as a specific business…but it is — it’s… Read More

For many farm families, building a farm business that the next generation can take over is a top priority. There’s great pride and value placed in keeping a farm “in the family.” While it’s important to have a viable business worth passing on, a successful farm transition also requires individuals in the younger generation who are interested… Read More

In what areas does your farm business excel? What are you poor at? And how can you respond to make improvements? Self-assessment and continuous improvement are what separates high-performance farms from the average. Rob Hannam, President and Client Director of Synthesis Agri-Food Network, joins us for episode 14 of the Mind Your Farm Business podcast… Read More

There’s a balance that must be struck in any farm succession plan. Mom and dad (the retiring generation) need enough money to retire and enjoy what they’ve earned, while the succeeding generation needs to start with enough to maintain a viable business. As Jacquie Gerrard of Backswath Management explains, farm succession conversations should start with figuring out… Read More

In the day-to-day operation of a farm it can be a challenge to set aside time to chat about what the next generation expects in taking over the business. “Hey Mom/Dad/Uncle… I want you to know this is important…” sort of discussions are important because they help establish expectations, which are needed to begin a successful generational transition. So… Read More

 

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