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Tag Archives family farms

farmer surveys cornfield harvest
Columns

Managing your farm’s biggest risk

For long-term stability, farm transition planning is key. Take control of your biggest risk

By
The marketing risk management issues I usually write about are focused on improving marketing results while reducing marketing risk. I would say this falls under the category of production management. What I would like to talk about in this article comes under the category of business management: farm transition planning. You may wonder why I […] Read more
Columns

Farm Financial Planner: Switching up a succession plan

When children change their minds, parents revise their farm succession plans

By
Central Manitoba farmers Lloyd, 59, and his wife Ellie, 58, have been running their grain farm for four decades. With 1,920 acres of land they own personally and 960 acres in their farming corporation and reasonably up to date machinery owned by the corporation, they face the common problem of generational succession. They have two […] Read more
Schleitheim in the Fall: Schleitheim is the village I live in and write from.
Features

Letter from Europe

Farm Perspectives

By
Background: Marianne Stamm grew up on a pioneer farm in the Peace country of British Columbia. Marriage to her Swiss husband Robert sent her to a mixed family farm in Switzerland, then back to a grain farm in Westlock, Alberta. She has now moved back to Switzerland to be near the grandchildren. Looking at the […] Read more
Alison Anderson, the director of Succession Matching.
Farm Life, FarmLife

How to find a successor for your farm

If you don’t have anyone interested in taking over the farm 
Succession Matching may be able to help

By
It often happens at my succession communication seminars that a weary farmer approaches me with a problem. “Elaine, we don’t have a successor for our farm.” The look of worry and wear on their face makes me want to just sit and listen to their story. When I spoke in Biggar, Saskatchewan a few years […] Read more
Men in doorway of barn
Columns

Talking about the farm transition

Bring in the experts when it's time to talk about passing on the family farm

By
During the winter months, I spent a lot of time at conferences and meetings, often talking with farmers over lunches and breaks. One such conversation was around farm transition. I spoke with a couple in the process of taking over the family farm. The issue was two other siblings who worked off the farm. These […] Read more
Writing those monthly paycheques
Columns, Features

Writing those monthly paycheques

Are we farmers paying ourselves as much as we’re paying our hired help?

By
The paycheques have been signed for another month and it brings to mind the joke about the tax man and the farm owner/operator having a conversation about wages: “I need a list of your employees and how much you pay them,” demanded the agent. “Well,” replied the farmer, “there’s my farm hand. I pay him […] Read more
Alberta consultant, Merle Good, right, speaks with Nova Scotia farmers Wayne and Nicole Oulton in Edmonton about getting the most out of tax strategies and new approaches to farm business arrangements.
Columns, Features

Defining roles can save the farm

Deciding and confirming “who’s in charge here” can take frustration out of the family farm

By
Improved communications and actually defining roles and responsibilities on a family farm can not only make the day go better, but can actually save a farm business, says a long-time Alberta consultant. Confusion over who is in charge can lead to some very stressful situations, says Merle Good, a well know consulting agricultural tax specialist […] Read more
Riskan Hope Farm barn
Columns

The story of the Riskan Hope barn

By
If you’ve driven north on Highway 11, from Regina to Saskatoon, you’ve seen Riskan Hope Farm. The farm name is spelled out on a big red barn between Craik and Aylesbury. I see it at least twice a year, on my drives home from Canada’s Farm Progress Show and Canadian Western Agribition. It’s a milestone […] Read more
Family with three children (3-9) walking on muddy road, cows in background, rear view
Farm Life, FarmLife

Top ‘phrases’ for coaching farm families

The Elaine Froese (phrase) that pays

By
One snowy day at a beautiful ranch home in southern Alberta around the expansive kitchen table, the farm team said, “Elaine you should make a list of your top phrases that you use in coaching.” “OK,” I said, knowing that many of the best projects are started by attentive practical ranchers and farmers who call […] Read more
two farmers walking together
Features

Five habits for a successful farm succession

Unresolved conflicts destroy family businesses. Plan ahead to help your family through the farm succession minefield


By
Dr. John Fast, a business planning consultant, bills himself as “The Family Business Doctor.” Judging from the size of the crowd at his talk at this year’s FarmTech Exhibition in Edmonton, lots of farmers are seeking his prescriptions. His presentation, “The Ultimate Management Challenge: Succeeding At Succession,” addressed one of the most difficult parts of running a family […] Read more

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