New video series on farm succession

February 08, 2013
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Feb. 8, 2013, Guelph, Ont. — A new farm succession video series will take viewers directly to kitchen tables of Ontario farm families as they explore the issues that make or break their farm succession plans.

A farm succession or transition plan is the process of transferring management and ownership of a farm business from one party to the next.

As it is a process, it often involves planning and documenting options for how the plan will unfold over a period of time, as the retiring generation works closely with the successor to develop a plan.

NEW VIDEO TO BE RELEASED EACH WEEK OVER FIVE WEEKS

Each week for the next five weeks, the Agricultural Management Institute (AMI) will release a new video featuring farm succession advisor Len Davies and families he’s worked with to develop successful farm succession plans.

“This five-part series provides a unique perspective on the challenges farmers face when tackling farm succession,” says AMI executive director Ryan Koeslag.

”When it comes to farm business management, succession is one of the most difficult tasks. This series will be a valuable resource for farmers who need to develop and execute succession plans.”

SERIES PRODUCED BY AMI'S FARM BUSINESS eTEAM

The video series is the second from AMI’s Farm Business eTeam, which launched in 2012 with an eight-part series on farm business management. The videos will be available on AMI’s YouTube Channel, or from the AMI website.

In each of the videos, Davies explores five keys to farm succession. “I think the series really shows that families have to communicate, set goals, be ready for succession, define a process and be committed to making succession happen,” says Davies, who has worked on more than 300 farm succession plans.

The Agricultural Management Institute is part of the Best Practices Suite of programs for Growing Forward, a federal-provincial-territorial initiative


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