When transitioning families are contending with both farming and non-farming children, some financial advisers say smaller financial gifts given earlier in life can alleviate some concerns.

The concept has been called transformational wealth, and it’s designed to support non‑farming children in a way that makes sense for them.

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FCC Ag Economics is doing a mid-year check-in on our January 2019 Outlooks. Throughout July and August, we’ll update our expectations about profitability across seven Canadian ag sectors (dairy, broilers, red meat, food processing, agribusiness, horticulture and grains, oilseeds and pulses). We’ll describe what’s happened in 2019 to-date and what you should monitor in the next six months.

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Successful farmers know a farm vision provides focus and helps guide daily decisions. Creating the vision to propel a farm forward takes some time and thought, but experts say it’s well worth it. 

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At around the mid-point of the calendar year, some farmers may find it a good time to take stock of business operations.

Growing season business plans require checkups, which could be semi-annual, quarterly or even monthly meetings with management and staff, according to Mathieu Lipari, program manager with Farm Management Canada.

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FCC Ag Economics is doing a mid-year check-in on our January 2019 Outlooks. Throughout July and August, we’ll update our expectations about profitability across seven Canadian ag sectors (dairy, broilers, red meat, food processing, horticulture, agribusiness and grains, oilseeds and pulses). We’ll describe what’s happened in 2019 to-date and you should monitor in the next six months.

Our January forecast for varied food processing margins is holding up well.

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Seeking a second opinion can be a prudent on-farm decision-making measure, but beware being engulfed by a tidal wave of viewpoints.

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Keeping energy consumption down on farming operations can be a tough task, but many operations find ways to improve, not only to help their operation, but also the environment and their bottom line.

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Employee engagement is critical for new farm CEOs’ leadership, as well as for more established farm CEOs to inject new life into their labour force.

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Debt isn’t necessarily a bad word. In fact, experts say there are numerous reasons why your business may need it.

Debt is part of what’s necessary for a healthy, thriving industry, says Farm Credit Canada’s vice-president and chief agricultural economist J.P. Gervais.

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Farm business planning experts and farmers themselves agree: a business vision is a critical element to success.

Michelle Painchaud, president and CEO of the consulting firm, Painchaud Performance Group, is a firm believer in vision.

“It is motivating, inspiring and aligns everyone to one common goal or destination,” Painchaud says, explaining a farm vision is the desired destination where a farm wants to be. “It is like a travel destination when one is planning a special trip.”

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