A lifetime in farming brings perspective. Two veteran farmers, Jean-Guy Vincent and Garry Meier, share theirs – one has some advice for young people entering farming while the other offers some thoughts for those passing on their operations.
To grow the farming business you have today, you've invested years of your life and the bulk of your financial assets. But sooner or later, it's inevitable that someone other than you will own and run your farm.
Succession planning is a thorny issue – not because the plans can be complex, but because it raises so many questions that need to have answers. And these answers come from people whose feelings might easily be hurt.
The Alberta Agriculture and Rural Development YouTube channel features videos from Alberta Agriculture and Rural Development of interest to farmers, ranchers, food processors and the general public in the province.
Take Control - Transition Planning for Owners in the Food Processing Industry: This program will teach business owners how they can effectively transition out of their business when they’re ready to retire, or move on to another endeavour.
Developed by AMI in partnership with The BDO SuccessCare ProgramTM, Choose Your Own Farm Succession is a step-by-step guide that will walk you through a succession plan tailored specifically to your family succession scenario.