SCOTLAND'S "head in the sand" approach to succession planning is stifling agri-businesses.
That's according to succession expert Sian Bushell, who will deliver a session on the subject as part of the Agritourism monitor farm initiative funded by Scottish Enterprise, next week in Dumfries and Galloway.
Using real-life case studies submitted anonymously by the audience in advance of the event, Ms Bushell will cover topics including choosing a successor, when is the right time to start the process, what retirement looks like and how to structure the business to accommodate more than one successor.
"Business owners should begin thinking about succession as soon as their children are born," said Ms Bushell.
"As many families have more than one child, this may mean taking out insurance policies or investing in off-farm assets so that the viability of the farm is not compromised," she added.
Having enough money to retire on while continuing the farm for the next generation will also be discussed. How to choose a successor, including what qualifications and experience they should have to run the business, will also be debated.
The question of what provision should be made for the other children if one child is to have the farm will also be looked at, including the issue of when they will receive their inheritance.
All of these questions will have an impact on the overall plan and budget.
Making use of experiences recounted by the audience, Ms Bushell will make a presentation on how other countries are looking creatively at challenges such as farmers who wish to retire and remain on the farm but do not have successors, and the options open to young farmers who may wish to get into farming but are not in line to inherit any land or farm facilities.
Topics including the role of a non-executive director and the need for positive role models for women entering farming will also be discussed.
The free-to-attend event will take place next Tuesday from 3pm -6pm in the Murray Arms hotel, Gatehouse of Fleet.
MARKET ROUND-UP
UNITED Auctions sold 741 store heifers at Stirling on Wednesday to a top of 264 pence per kilogramme and an average of 211.1p (+1.2p on the week), while 1,506 store, beef-bred bullocks peaked at 266.2p and levelled at 220.4p (-0.8p).
One-hundred-and-thirty-eight store B&W bullocks sold to 166.2p and averaged 139p (-5.1p).
In the rough ring, 194 cows averaged 117.8p.
The firm also sold 4,809 store lambs.
Top prices and averages; Suffolks to £69.50 and averaged £63.09 (+£5.66 on the week); Texels £66 and £58.11 (-30p); Mules £56.50 and £53.66 (-£4.48); Cheviots £55 and £46.97 (-£8.09); Blackfaces £54.50 and £45.70.
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