Transitioning your family farm is a journey

Many farmers across Canada are thinking about the succession planning journey. You have worked hard to build a prosperous farm and want to make the best decisions for continued success in the future. You need clear answers to your succession planning questions to enable you and your family to make the right choices.

Follow along through this interactive guide to see how BDO can help you and your family manage the farm transition journey.

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There are many factors to consider before you begin the process. If you’re thinking about transitioning your family farm, reach out to our agriculture team to see how we can help advise you. We will work with you and your family as you navigate the farm transition journey.

BDO can help

Once you have completed Build the Plan or Set Your Direction, you will know what is needed to build a successful future for your farm and family. You will then be ready to Complete the Journey, the action stage of your family business transition.

Your Business Transition Advisor and the rest of the BDO farm succession team are available to accompany you and your family throughout the transition journey. We will coordinate BDO resources and your other advisors to ensure you have the best opportunity for success.

Complete the journey

Stage II

Farmers work hard to ensure a positive future for their farm and family, and after years of hard work you don’t want to leave anything to chance. It’s important to establish a plan for transitioning your farm. Every family is unique, as is their farm and the vision for it.

Transition starts with a plan

Stage I

OR

Are you ready to begin the transition journey?

Sometimes it helps to take stock of your starting point. BDO’s Family Farm Health Check begins with your family completing an online Discovery Questionnaire. You will receive an individual report with your responses, along with a combined graph providing insights into everyone’s perceptions and priorities. A BDO Business Transition Advisor will meet with your family to discuss the results. A Family Farm Health Check allows you to understand your family’s perception of their preparedness for farm transition.

Transitioning your family farm is a journey

Farmers across Canada are navigating the succession planning cycle. You work hard to build the farm and want to make the best decisions for the future. With succession planning, you will have questions and have to make important choices so you can transition the farm on your terms.

This roadmap will help guide you through the complex process and answer many questions along the way.

Down Arrow White
ntl-agriculture3-13feb20-dairy-xpo-slide-farm-succession.jpg
father-daughtergettyimages-702547581.jpg
barn-doors-gettyimages-470622687.jpg

There are many factors to consider before you begin the process. If you’re thinking about transitioning your family farm, reach out to our agriculture team to see how we can help advise you. We will work with you and your family as you navigate the farm transition journey.

BDO can help

Are you ready to begin the transition journey?

Sometimes it helps to take stock of your starting point. BDO’s Family Farm Health Check begins with your family completing an online Discovery Questionnaire. You will receive an individual report with your responses, along with a combined graph providing insights into everyone’s perceptions and priorities. A BDO Business Transition Advisor will meet with your family to discuss the results. A Family Farm Health Check allows you to understand your family’s perception of their preparedness for farm transition.

Stage I

Transition starts with a plan

Farmers work hard to ensure a positive future for their farm and family, and after years of hard work you don’t want to leave anything to chance. It’s important to establish a plan for transitioning your farm. Every family is unique, as is their farm and the vision for it.

OR

Stage II

Complete the journey

Once you have completed Build the Plan or Set Your Direction, you will know what is needed to build a successful future for your farm and family. You will then be ready to Complete the Journey, the action stage of your family business transition.

Your Business Transition Advisor and the rest of the BDO farm succession team are available to accompany you and your family throughout the transition journey. We will coordinate BDO resources and your other advisors to ensure you have the best opportunity for success.

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