Over the next 10 years, 75% of Canadian farms will change hands

Over the next 10 years, 75% of Canadian farms will change hands
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OTTAWA – Over the next 10 years, 75% of farms will change hands,  yet only 8% of farmers have a written transition plan. This uncertainty about the future of the farm is putting tremendous stress on our farmers and future farmers and jeopardizes the future of farming in Canada.

Today, Farm Management Canada, with the support of Farm Credit Canada, MNP and the Government of Canada announced the debut of farmtransitionguide.ca on January 12, 2020, a brand-new web portal for all stages of farm transition planning. This bilingual website connects farm owners and farm owner hopefuls to the tools, experts, and resources they need to develop and implement their farm transition plans.

Farm Management Canada knows transition planning is part of effective business planning. Each farm has unique circumstances and each situation requires its own plan using the tools, resources, and expertise to best support their needs. That’s why farmtransitionguide.ca has been designed to help farmers navigate their transition journey, starting with a needs assessment, all the way through to creating and implementing the plan, and connecting with advisors along the way to support the journey. The resources and tools include family and non-family transition options as well as inspiring stories from future farmers.

The website will be launched on Farm Transition Appreciation Day, the first event of its kind that invites farmers to celebrate farm transition planning and take action.

“By pledging to take steps towards transition planning, farmers are not only building upon their own legacy, but ensuring the continuity of Canada’s agricultural excellence through effective management planning,” says Heather Watson, Executive Director.

Farm Management Canada states it is the only organization devoted exclusively to the development and delivery of advanced business management information, tools and resources to position Canada’s farmers for success. Programs and activities are made possible through support from generous sponsors and supporters including Government, private industry, the non-profit sector and academia.

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