FARMING businesses must look to the future to remain viable, a succession planning expert will tell the 2015 Nuffield Australia annual conference in Albury next week.
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Proagtive founder Isobel Knight, the NSW and ACT Rural Industries Research and Development Corporation Rural Woman of the Year for 2013, believed succession planning needed to be on rural families’ agenda.
“I believe good operators in agriculture prepare their businesses for the future and view succession planning as a vital part of good business management,” Mrs Knight said.
Proagtive has been Australia’s leading family farm succession planning business for the past decade, while Mrs Knight, a mother of three, has degrees in business law and psychology, is a trained counsellor and mediator.
“Effective succession planning depends on open communication, good will, respect and a desire to keep relationships strong between all family members whether they are on farm or off,” she said.
“Harmonious relationships, financially successful businesses and ongoing viability ensure effective positioning to successfully transition to the next generation and also continued stewardship of Australia’s agricultural land by Australian farming families.”
Her association with family farm businesses stems backs to her family’s farm near Junee and now Loomberah in Northern NSW, where she and her husband Rod run a cattle-trading enterprise.
Being part of two family farms and experiencing first-hand the challenges of planning for the future has been the catalyst for Mrs Knight’s interest in farm succession planning.
Proagtive is also branching into agribusiness services and launching Succession Online, an online version of its workshops, for people in remote areas who can’t attend workshops, or those who might not have all the family on board but want to make a start on the process.
Tim Fischer will be guest speaker at the annual dinner on Thursday night, when Nuffield will announce its 2016 scholars.
Nuffield Australia provides $30,000 travel bursaries for primary producers and managers aged 28 to 40 for a 16-week program consisting of both group and individual travel over two years.
The 24 returning 2014 scholars will make their presentations throughout Thursday and Friday.
Other speakers are Thos Gieskes (Rabobank), Brian Keating (CSIRO), surgeon Gary Kode and 2014 RIRDC Rural Woman of the Year Pip Job.
The conference runs from Wednesday to Friday at the Albury Commercial Club and Albury Entertainment Centre.
