10 July 2018
In an ideal world, the older generation would discuss their plans for the future of the farm business openly with other members of the family. They would “start the conversation” long before the time when such a discussion becomes essential.
Unfortunately, that is often not the case which has very serious implications for both families and farms in Wales, according to Einir Davies, mentoring and development manager with Menter a Busnes, which delivers Farming Connect on behalf of the Welsh Government.
“The greatest threat to many farm businesses in Wales is lack of a robust succession plan, which is why Farming Connect launched a new succession campaign at the recent Women in Agriculture forum in Bangor on Dee and are committed to making it the topic of conversation around farm kitchen tables this year,” said Ms Davies.
The new campaign, “Start the Conversation, it’s good to talk” comprises a suite of Farming Connect succession planning support services and guidance tools which will help families navigate their way through what are often challenging and unwelcome discussions.
“Businesses which do not plan ahead risk serious consequences for both family and farm ranging from the falling out of family members and the loss of homes and livelihoods to adverse financial consequences and the impact to all if the family farm has to be sold, carved up or divided.
“Succession planning will address when and how best to pass on the assets to the next generation which includes preparing them for what lies ahead and passing on responsibility too,” said Ms Davies.
Starting point for those wanting to know when and from whom they should seek advice is to obtain a copy of Farming Connect’s succession planning booklet. This straightforward A4 booklet, sets out what support and guidance is available to help families prepare for those all-important discussions which need to take place. It also contains a ‘succession planning toolkit’, providing templates which enable families to discuss and record the facts, opinions and goals of each family member, saving them valuable time ahead of instructing their own professional experts. Collect a copy from your local development officer or from any agricultural show, including the Royal Welsh Show, where Farming Connect has a presence.
The new campaign will signpost farming families towards a team of newly appointed ‘succession’ mentors who have joined Farming Connect’s successful fully-funded mentoring programme. Eligible farmers can now apply for up to 22.5 hours of one-to-one confidential and impartial guidance on ‘succession planning’ from a mentor who has relevant experience or knowledge. Click here and browse the online mentor directory, which also includes mentors on a wide range of business and technical topics, including ‘niche’ diversification enterprises and farm safety experts. A filter system will help you identify the mentor with the skills and knowledge you require before applying for the service.
Farming Connect also arranges succession surgeries when eligible farmers can book a fully-funded one-to-one meeting with a specialist rural solicitor. For information on the next round of dates and locations and to book a place, contact your local Farming Connect development officer or click here.
“You will receive a synopsis of your meeting which you can then discuss with your own professional adviser,” said Ms Davies who added that if any families need further assistance with strategic business planning, they can access 80% funding through Farming Connect’s Advisory Service.
Farming Connect is funded by the Welsh Government and the European Agricultural Fund for Rural Development.