Next Gen Project - Mooving Forward
Kick starting successful succession
Farm family succession is often sold as too hard, challenging and messy. And it’s this perception that often dissuades families from engaging in the process until well past the ideal time.
The Young Dairy Network is hoping to dispel this myth with its Mooving Forward Succession Starter Kit which is being developed through funding from the Department of Agriculture, Fisheries and Forestry’s NextGen program.
The purpose of the starter kit is to support the younger generation in getting the succession process on the table and talked about.
Jo Eady from Rural Scope is developing the Succession Starter Kit package.
“Succession is very similar to any other planning that is done within a farming business,” says Ms Eady.
She believes that succession is about having conversations and the package being developed assists by putting structure around these conversations.
“Succession is about a range of things not just asset transfer,” comments Ms Eady “A majority of the time the process comes unstuck long before a family is ready to talk at this level, normally at the labour/roles and responsibilities and remuneration stage.”
The model being developed through this program has 3 stages to support successful farm business succession. Not all families need to address all stages at once; however, it is important to know what each stage is and to address it in order.
The three stages are labour management, decision making and farm management and finally asset transfer. Having a staged process means that succession planning can be broken down into bite size chunks with everyone preparing for and contributing to whole of family conversations.
“The fact remains that decisions around these three areas are not recognised as being easy. However the sooner these areas can be talked about the more options there will be for all members of the family and the greater chance of long term family unity and harmony,” continues Ms Eady.
The package has two components to it. The first component is a series of information sheets which will provide knowledge and support to the younger generation about what succession looks like and empower them to start the conversations within the family.
For those families who are ready for the ‘rubber to hit the road’ the program has developed a series of family meetings to work through the model with the assistance of a facilitator.
The package will be launched during this year’s Young Dairy Network Tour which is being run from the 12th to the 17th of February. The tour is also supported by the NextGen program and will visit a number of farms in Tasmania looking at intergenerational business transfer including the option of share farming.
The Young Dairy Network is keen to hear from farmers who would like to receive the Information Sheets when they are launched in February. For more information about the Mooving Forward program please contact Belinda Haddow on 07 4646 4463 or 0423 003 638 or email belinda@dairyinfo.biz
Mooving Forward - Building Intergenerational Leadership Capacity into the Subtropical Dairy industry
Objective:
Provide young dairy farmers with knowledge of the business cycle of their farm and industry to enable them to make the best future decisions. These decisions will relate to increasing productivity, building resilience, forming and enhancing networks as well as personal growth in an environment of climate change.
Milestones:
This project is a two phase program.
Phase 1 – Run 6 Regional Workshops across the network themed around the transition of farm and industry ownership. The workshops will be regionally specific where the content will be chosen by the regions’ farmer based YDN Operational Steering Committees. Topics for these workshops can include: • Understanding the intergenerational dynamics within the farm business cycle • Understanding the accounting, legal and banking requirements that operates within the farm business. • Business Transition • Leadership Development
Phase 2 - Tour - an interstate study tour that looks at a range of agribusinesses at different stages of the business cycle. The tour will visit the Young Dairy Network of Tasmania giving many the opportunity to network with their interstate peers.