Spring Conference Speaker Offers Roadmaps for Multi-Generational Success

American agriculture will change drama tically over the next 20 years, with an estimated 70% of farmland likely to change hands. A farm or ranch family that does not adequately plan for succession risks going out of business, being absorbed by ever-larger farming neighbors, or having their land converted to non-farm use. In these scenarios, impacts of farm entry and exit on rural communities and on farm equipment manufacturers could be significant.

The clock is ticking for farmers and ranchers, and it also demands our members’ attention. During our Spring Conference in San Antonio this April, a breakout session will address the importance of succession planning for family businesses.

Presenter Bill Wade, managing partner at consulting firm Wade & Partners, will explain why, when it comes to passing on a business, history may not be on the family’s side. According to Bill, while 88% of current family business owners think the family will control its business in five years, in reality, only 30% will survive into the second generation, 12% will still be viable into the third generation, and a mere 3% will operate into the fourth generation or beyond.

What can you do? Attend the Spring Conference and listen as Bill offers roadmaps for multi-generational success. Topics will include:

• The Importance of the Process

• Exploring the Sale Alternative

• What Gen X and Millennials Want

• ESOP is not a Fable

For more information about the event, or to register, visit FarmEquip.org.