Passing on to the next generation

Passing on to the next generation


WHILE many farm families might see succession planning as a challenge, addressing it has big benefits – and not just for relationships.

Harvard Business School of Management research shows businesses that have a sound succession plan are up to 25 per cent more profitable.

"This is the opportunity available to every business in agriculture," said Isobel Knight, director of succession planning specialists ProAgtive.

"I don't think there is anything else in Australian agriculture that you can do out in the paddock that will give you that productivity lift."

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