View As Webpage | View Archives | Email a Friend

June 12, 2019

Who answered the Ag Succession Survey?

To better understand the results of the Ag Succession Survey, it’s important to understand who answered the survey.

The state of succession

Similar to the 2016 Census of Agriculture, a majority – 51 per cent – of survey respondents who identified themselves as the current owner said they do not have a succession plan in place.

Are we talking about it?

Aside from a small percentage – 10 per cent of current owners and 11 per cent of prospective owners – the majority of farming families surveyed are having discussions regarding transition planning.
Sponsored Spotlight 

Succeeding at Succession

As the farming populations ages, having a succession plan is more important than ever, yet less than a third of farms in Canada have a plan in place. At MNP, our teams of succession professionals work closely with you to develop your TransitionSMART™ plan so you're well prepared to transition your business to the next generation and exit on your terms. Helping you every step of the way, we'll address each of the S.M.A.R.T. factors (Succession, Maximizing value, Asset and wealth management, Retirement needs and Taxes) with you, your family and stakeholders. » Take the assessment
Elaine Froese

Dealing with dynamics

At the end of the Ag Succession Survey, respondents had the opportunity to leave final comments about the topic of succession planning. We’ve collected a few of these questions dealing with family dynamics, generational concerns, and emotional barriers that come up during the farm transition process and posed them to family farm coach Elaine Froese. » Read more...