Succession planning facilitation
Plan for the future of your business
There are many family run farming businesses across Australia and New Zealand. We want to help each one to continue to run smoothly and remain a success well into the future. That's why we offer a comprehensive succession facilitation service to ensure your business stays strong for the entire family for many seasons to come.
Our unique planning process helps families explore their needs, register their concerns and establish their goals. Options to satisfy the goals of family members are explored, outcomes may be negotiated and an action plan and follow up process are agreed.
Do you need a succession plan?
Some questions family members may ask that are indicators a succession plan should be initiated are:
- How do I wish to retire? How will I be supported financially?
- How can I treat my children fairly but not risk the viability of the business I have created?
- Who will have the responsibility of paying out siblings or children?
- Will off farm family members have ownership of the business and how will they be rewarded or paid out?
- What are/or will be the terms and conditions for family members working in the business?
- How will the business be structured when family members enter?
- How will communication flow to family members both inside and outside the business?
- How will family members inside the business be educated and what are the agreed conditions for decision making?
- How and when will responsibility for management of the business be passed on?
The Douglas family from Northland discuss how Rabobank’s Succession Planning Manager, Tony Hammington helped them to develop a succession plan for their farming business.
How to contact us:
For more information if you want to start the process please e-mail us Successionplanningnz@rabobank.com or to talk to someone please call 0272 496 366