By Ed Scharringa January 23, 2015
The Christian Farmers Federation of Ontario is a farm organization that promotes, among other things, family enterprise and family values. The organization focuses on sustainable family farm businesses and quality of farm family life. When reading the CFFO mission statement and values, it becomes clear that the focus of the organization is on more than business; the farm family is at the centre of many of our deliberations. For many farmers, the success of the farm business is not measured by its financial achievement alone, but also by the family's continuation of the enterprise.
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[audio mp3="http://blackburnnews.com/wp-content/uploads/2015/01/JAN-23-CFFO.mp3"][/audio] What makes a financially successful farm even more successful? The answer is a succession plan. Today's farming is changing rapidly. Not only are we facing weather and changing markets; we are also dealing with the economics of farming quickly moving towards a future where it is increasingly difficult for the next generation to take over the farm business. Many farmers are coming to that stage in their lives where they have to decide how to exit the business of farming. For many of them, nothing would be more rewarding than being able to pass the farm business on to the family's next generation. Because economics play a big part in the decision, being prepared and knowing the financial options for transitioning are important. Of equal importance is knowing when the time is right for the next generation to take over. I once asked an older, wise farmer when he knew his son was ready to take on the responsibility of running the farm. His answer was, "When my son arrived at the barn before me and was willing to stay longer than me." In my farm transition that certainly was a contributing factor. Another factor to consider is that the interest of the next generation can easily turn to frustration and refusal if the older generation shows little interest in creating an opportunity for succession. When it comes to family farm succession, the road to success depends on the owners' preparedness and willingness to make it possible for a transition to take place. All the other factors can be worked out. Just like the older farmers once did, the younger generation has ideas and ambitions that, when given a chance, can build a better future for the family farm. As we value the strengths of family farms, we have to enable healthy farm transitions to our next generations so they may continue and build on the dreams we too once held. ______________________________________________________________________________________ Ed Scharringa is on the Board of Directors for the Christian Farmers Federation of Ontario. The CFFO Commentary represents the opinions of the writer and does not necessarily represent CFFO policy. The CFFO Commentary is heard weekly on CFCO Chatham, CKNX Wingham, and UCB Canada radio stations in Chatham, Belleville, Bancroft, Brockville and Kingston. It is also archived on the CFFO website: www.christianfarmers.org. CFFO is supported by 4,000 family farmers across Ontario.
