Preparing your farm business for the future
The benefits of developing a succession plan for your business will be discussed at a monitor farm meeting on Monday March 18.
The free evening meeting in Fort William will encourage farming families to begin discussing this sometimes sensitive topic and prepare their businesses for the future.
Heather Wildman from Saviour Associates will emphasise the importance of having a vision for the future of businesses and will highlight the positives of developing a succession plan.
‘It is never too early to think about succession planning,’ said Mrs Wildman.
‘Openness, recognising family members’ differences and listening to each other’s aspirations are all key foundation blocks to a successful transition.’ Mrs Wildman will address some of the reasons why those involved in farming often avoid planning for succession and suggest questions farmers and their families should ask themselves at the start of the planning process.
Strone farm, Lochaber’s monitor farm in Banavie near Fort William, is run by father and son team Malcolm and Chris Cameron.
The family developed a succession plan some time ago and, although Chris has been an active partner in the family business for some years, Malcolm is now supporting Chris as he gains confidence in running the business. This is ideal preparation for when Malcolm decides to retire.
Malcolm said: ‘Farmers are also incredibly busy people so it can be difficult to find the time to consider longterm succession planning. However, it makes sense to have a plan in place well in advance as we have done at Strone.’
Strone is one of nine monitor farms that have been established around Scotland in a joint initiative by Quality Meat Scotland (QMS) and AHDB Cereals and Oilseeds. The aim of the programme, funded by the Scottish Government, is to help improve the productivity, profitability and sustainability of Scottish farm businesses.
The meeting on March 18 will be at the Nevis Centre from 7pm to 9.30pm. To book, contact Niall Campbell or George Gauley on 01631 563093 or email fbsoban@sac.co.uk.