The Importance of Generational Farming - The Future of Farming
Generational farming has been a part of the agricultural industry for a long time. A generation or two ago, farmers were expected to keep all their land in one piece for as long as possible before passing it down to their children. Today, many farmers are separating parts of their land into smaller parcels that each child can own and operate on their own after they inherit them from one another as part of an estate plan.
What is Generational Farming?
Generational farming allows families to preserve their land and continue their heritage. It's also a meaningful way to protect the environment by reducing land fragmentation when a single piece of land is divided into smaller and smaller pieces as it passes through multiple generations.
Generational farming allows farmers working on the same piece of land for decades or centuries to keep working together rather than selling off parts of it every time someone dies or retires. This helps keep farms intact while keeping them productive - and gives farmers more control over how they use their resources than if they were working alone or renting out their land.
Why is Generational Farming Important?
Generational farming is important for many reasons.
One of the most important reasons is that it allows you to pass on your knowledge and values to future generations. You can teach them how to care for animals, grow crops, raise chickens and bees, and enjoy life off-farm.
Generational farmers also pass on a sense of place - they know where their food comes from because they work hard daily on the land (or with their family). This helps create a connection between farmer and consumer that doesn't exist in industrial agriculture.
What Can You Do to Prepare for Generational Farming?
Here are some things to consider when preparing for the future of your farm:
Prepare for the future of your business. What does the next generation need from you and your farm? How can they learn from what you've done to do it better themselves?
Plan for the future of your farm. What does this mean for land use decisions, staffing needs, capital investments (or lack thereof), operational changes...it goes on! You'll want a plan in place so everyone knows where they stand when change happens. This includes thinking about who will take over as primary decision maker(s) once someone retires or passes away, how long they should wait before making significant changes like selling off property or entering into new partnerships/partnerships with other farmers/businesses, etc.
Plan ahead concerning family goals and aspirations: Does each member want any specific goals out of life? Do these align with one another's dreams/aspirations? Are there areas where conflict could arise between siblings? If so, then talk openly about those differences beforehand.
Succession Planning
Succession planning is an essential part of any business owner's life. It can help you to stay in business, keep your farm in the family and pass on your values and traditions to the next generation.
Succession plans should be created when you have children or other family members interested in taking over management responsibilities at some point down the road. Still, they should also include provisions for when there are no suitable successors available.
Generational farming is the future of farming. It is a way to pass on land and values to the next generation.
When it comes to generational farming, it's important to have a plan in place for your farm and family.
