Ideas corporate and farm businesses share
Focus on Farm Transition videos provide strategies and advice to help you navigate the key challenges and questions that arise during the farm transition journey.
When it comes to transition planning, farm and non-farm businesses have many things in common. Nevin McDougall, transition expert and President & Chief Commercial Officer of A&L Laboratories, explains.
- Farms are unique, but share common strategies about transition as non-farm businesses
- Best practices include good communication, clear vision, sharing of expectations
- Tackle the big questions early like who to bring on and help grow the operation
- Document and writing plans down bring clarity and helps facilitate discussion
Watch the next episode
Options for transferring land while alive that keeps business structure and taxes in mind, while maintaining family relationships.