Why succession planning is essential for Farm Family Businesses

Posted by admin on August 20, 2012  /   Posted in Sales & Marketing

The role of leading a family farming business through succession carries with it a very unique set of challenges. Farm businesses have many things going for them – they tend to be flexible, reliable, and proud, they can think long-term, have a strong culture and their people are committed. But they can also carry a daunting set of disadvantages – they can be rigid, inward-looking, unresponsive to change and sometimes swamped by emotional issues. It’s a complex mixture of advantages and disadvantages, costs and benefits, strengths and weaknesses. It is within this challenging context that effective succession planning must function as a catalyst for change and smooth transition between one generation and the next within family farms in Northern Ireland


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