Plan for succession | Landholders Driving Change

Melissa and Christian Cormack and their children Darcy and Mia

THE LDC project has enlisted the expertise of Proagtive Agribusiness Solutions to deliver a Succession Planning workshop in Bowen. It’s aimed at educating all stakeholders in family farm business about the complexities of succession and strategic planning.

The workshop will provide farming families with a simple methodology to gain control and understand their financial drivers so they can make good decisions. All graziers in the BBB are encouraged to attend.

The workshop targets multi-generational farming families in business and takes them through interactive sessions with workbooks supplied, where they can begin the process of succession planning and also understand it better.

Whether you are a family member or non-family member working in a family owned business – succession and preparing for the transition of management to the next generation is an integral part of good business planning.

Succession involves far more than just the transfer of assets when the business owners either retire or die.

It is an evolving process ensuring the continuation of a business down through either generations or layers of management.

It involves choosing and grooming the successor(s), planning for the future, coping with the transition, communicating around and managing the change to the family and the business and letting go gracefully.

The timeliness of succession is the most critical task any business owner wishing his or her business to endure for future generations will face.

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THIRD DAY ADDED

A THIRD day has been added to this workshop: Thursday 22 November.

If graziers want to book a one-on-one appointment with one of Proagtive Agribusiness Solutions’ advisors - Isobel Knight (Succession planning) or Tim Lane (Farm financial planning) - contact Adrienne Hall on mobile 0428 158 859 or by email adrienne.hall@nqdrytropics.com.au.

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