Developing The Future Farmer: Considering The Farms Accumulated Wealth, History And Succession

Josée Lemoine

No 400155, 24th Congress, Saskatoon, Canada, 2024 from International Farm Management Association

Abstract: Considering the accumulated wealth of farm business owners, what are the conversations that families should be having about the legacy business. What approach should the current generation take to inform the incoming generation and develop the future farmer. With the increase in land values and increasing input costs, the complexities of the incoming generation to “buy the farm “are numerous. Exposing and involving the future farmer in long-term planning should benefit the incoming generation in better decision-making impact does this have on the farm family, both those who are actively and passively involved in the business.

Keywords: Farm Management; Labor and Human Capital (search for similar items in EconPapers)
Pages: 10
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ifma24:400155

DOI: 10.22004/ag.econ.400155

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