Succession planning is a process, not an event

By Gary Sliworsky
OMAFRA Rep.

Succession planning is a continuous process to plan for the transfer of knowledge, skills, labour, management, control and ownership of the farm business between one generation, sometimes known as the founder or retiring generation, and the next or successor generation. Succession is a process and not an event; it takes time and effort to work through and develop a comprehensive plan that best meets the needs of the farm family.
There is an opportunity for 6 to 8 businesses to participate in an estate and succession planning workshop with Terry Betker, President and CEO of Backswath Management (www.backswath.caom), at the end of April.
Terry is recognized for his visionary and leading edge contribution to farm management. He was a partner and director at Meyers Norris Penny for 12 years with experience in the areas of strategic business and succession planning, financial analysis and risk management. He is in great demand across Canada and overseas as a consultant and speaker on a variety of areas related to farm business management. He is currently in New Zealand working with farmers there on succession planning issues.
Terry’s 17 years experience as a grain, oilseed and special crops producer in Western Manitoba gives him first-hand insight into the issues that producers face. A popular speaker on management issues, Terry has delivered presentations to the Canadian Wheat Board, the Canadian Bankers Association, American Society of Farm Managers and Rural Appraisers, American Society of Agricultural Consultants, major farm lenders, international food product and supply companies, agri-marketing and farm management associations and numerous farm groups. He has made presentations on management in the United States, the Netherlands, Chile and Mexico. He is a sessional instructor on farm management at the University of Manitoba.
Terry has completed the Executive Program for Agricultural Producers at Texas A&M University and is a Certified Agricultural Consultant. Terry’s additional credentials include Certification in Mediation Theory, Strategic Planning certification and a Bachelor of Science in Agriculture degree from the University of Manitoba.
Cost for the one day workshop would be $250 to $350 per business. Terry would also be available to work one-on-one with your business for an additional fee. Participants of the Grow Your Farm Profits course may be eligible for some funding to cover costs.
If you are interested in participating, please contact Kim Cornell (486-3477) or Richard Trivers (274-2930) as soon as possible.

Dates to Remember
April 16 – Spring Cattle Sale, Stratton Sales Barn.