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To grow the farming business you have today, you’ve invested years of your life and the bulk of your financial assets. But sooner or later, it’s inevitable that someone other than you will own and run your farm. Perhaps you’ll transfer your operation...
Justin Beck has one big tip for beginning farmers: If you want to succeed on the family farm, get away from it. “I would definitely suggest that you go work someplace else for a bit,” says the 26-year-old. “First, it’s going to help you decide whether farming is...
When the Keddy family first began succession planning, their advisor had a grim warning. “We sat down with our accountant who told us there was a study that found only 1 in 12 first-generation farms are successfully transferred,” says Philip Keddy, who with parents...
Pat Dunphy didn’t take a ‘kid takes over from dad’ route into agriculture. But the PEI farmer’s unconventional career path may soon be more common. Dunphy earns a salary running a farm owned by outside investors while slowly building up his own operation on the side....
Two major desires preoccupy most business-owning entrepreneurs. The first is to be able to take a happy, comfortable, well-deserved retirement. The second is to see the business that they’ve built continue to prosper after they retire. The agricultural sector is...
For most Canadians, putting Saskatchewan and wine in the same sentence doesn’t seem to fit. In fact, Saskatchewan consumers drink the least amount of wine per capita compared to every other province. That isn’t slowing down growth for Living Sky Winery, say husband...
