Farms need transition planning

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Providing coverage to the communities of Camrose (RRs and Boxes only), Ohaton, Edberg, Meeting Creek, Donalda, Bawlf, Kelsey, Rosalind, Daysland, Heisler, Strome, Forestburg, Galahad, Castor (farms), Killam, Sedgewick, Lougheed, Coronation/Brownfield, Alliance, Hardisty, Amisk, Hughenden, Czar, Metiskow, Cadogan, Provost (farms), Armena, Hay Lakes, New Sarepta, Round Hill, Kingman, Tofield, Ryley, Holden, Bruce, Viking, Kinsella, Irma, Wainwright (farms and lock boxes), New Norway, Ferintosh, Bashaw, Bittern Lake, Gwynne, Stettler (farms).

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Farms need transition planning

By Murray Green

Farm Management Canada, Farm Credit Canada, BDO Canada and the Canadian Association of Farm Advisors announced the second annual Farm Transition Appreciation Day (FTADay) on January 11.

Over the next 10 years, 75 per cent of the farms will change hands, yet according to the Agricultural Census, only eight per cent of Canada’s farmers have a written transition plan.

FTADay was created to acknowledge that farm transition is a complex process, and to encourage and celebrate progress. FTADay is one day of the year when stakeholders can come together to share stories, advice and encourage farmers throughout their farm transition journey through a national social media campaign and learning events across Canada.

“Now more than ever we need to focus on our wins and share best practices on how to do succession well,” said Maggie Van Camp, BDO’s National Agricultural practice development leader. “More importantly, we need to celebrate our generational farm families, who are the resilient and strong cornerstone of this country.”

Start planning early in the year. “The new year is the perfect time to reflect on the positive steps farmers have taken to not only secure their own legacy, but help ensure the continuity of Canada’s agricultural excellence through effective planning,” said Heather Watson, executive director of Farm Management Canada. “FTADay is not only a celebration, it is a call to action.”

FTADay provides an opportunity for everyone to reflect on the past year–celebrating achievements and identifying next steps with the support of industry experts.

Farmers, organizations and agribusinesses across the country are encouraged to share their farm transition success stories, tips, resources and tools to create a coast-to-coast buzz around farm transition and encourage Canada’s farmers to continue their transition journey.

Follow and mention Farm Management Canada and use #FTADay to be part of the conversation.