Equity partnerships, lease-to-buys and share farming arrangements can all help get the next generation onto the land, but knowing where to look or who to talk to can be daunting. Succession planning (or lack thereof) can also be a major obstacle for the next generation.
Rabobank recently teamed up with the Red Meat Profit Partnership (RMPP) to host Farm Ownership Options (FOO) and Farm Business Succession Networking days for sheep and beef farmers in the Manawatu and East Coast regions of New Zealand.
“These events fit nicely with two of the key RMPP objectives which are to improve the productivity and profitability of the New Zealand red meat sector and to encourage more young and capable people into the sector” said Brent Irving, National Manager for Farm Ownership Options.
Events were held in Marton on 18 August, in Havelock North on 9th September and Masterton on 17th September with a combined total of over 250 attendees across the three events.
At the events attendees were provided with an overview of Rabobank’s Farm Ownership Options Facilitation program as well as an outline of the bank’s Succession service. A range of external presenters also spoke at the events including Equity Managers and investors who discussed their experiences as members of existing equity farming arrangements. We also allocated time throughout the events for attendees to network and to develop relationships with other participants.
Masterton Senior Rural Manager and East Coast FOO specialist, Matt Hood, attended the Havelock North and Masterton events and said that a key outcome of the seminars was to shift the industry paradigms around what is possible when contemplating farm business succession and industry pathways for top young people.
“The sessions really benefitted from the involvement of our farmer speakers, key local non-farming professionals and Rabobank staff with their input during discussion and Q&A times providing excellent background to how various business models can be progressed from inception to completion.
“Several farm business owners attended the session who are looking to move away farming, but not the farm. Many of these farmers commented to me afterwards that they were encouraged by the simplicity of how they might engage top operators into their business with plans and agreements to benefit all parties.” Matt said.
Interested in learning more about our Farm Ownership Options? Speak to your Rural Manager for more information or to find out when we will be hosting a similar event in your region.