THE JOURNEY OF SUCCESSION
Farm succession is a challenging and rewarding journey. It is about more than just 'handing over' the farm. It is about your family:
- Aligning goals and expectations;
- Working together well;
- Balancing different needs;
- Making decisions for the future of the business;
- Planning career and work opportunities in the business;
- Agreeing on how the farm asset will be used and transferred over time.
Families that keep these issues in focus can create a collective vision. Every family farm is different so one solution does not fit all. The key is to start early. Families which start their succession planning early, benefit from increased financial security for each generation, increased personal motivation and family cooperation.
RABOBANK UNDERSTANDS FARM SUCCESSION
Having worked with family businesses for many years, Rabobank has developed a process to assist rural families in negotiating complex issues associated with business succession. Rabobank facilitates two business succession services:
Succession Facilitation Meetings
Individual tailored family meetings for the purpose of family business communication and decision making around succession at all stages of the farm succession process.
Foundations of Farm Succession Workshops
Small group educational workshops dedicated to on farm family members where families work proactively to explore business agreements with regard to working together.
For more information you can speak to a Succession Planning Facilitator or your Rabobank Account Manager.
Phone 1300 30 30 33
Rabobank Succession Planning brochure