Succession Planning

GRDC

Type: PDF
Knowledge level: Introductory

Farm Table says:

Handy insights from multi-generational farming families. Contains great quotes and reflections from real farming families.

This succession planning manual from GRDC focuses on the following:

  • Timing
  • People management
  • Financial capacity
  • Transfer of the business
  • Meeting processes

Key points from the manual include:

  • Succession planning is a process rather than an activity to be solved with one meeting.
  • Good communication and being proactive are key to a successful succession planning process.
  • It is possible to manage succession planning well.
  • What happened with succession planning in the previous generation may not work for this generation, as each family is unique and each period in history is unique.
Australia - GRDC
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