Why Succession Planning on Christmas Day is not a good idea

Christmas can be known as much for family barnies as it is for prawns and a leg of ham for lunch, which is why it’s not the time to talk succession planning. The temptation, however, to use Christmas to talk succession planning is strong for many families this year because of lockdowns and an

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Three Traits for a Successful Succession Plan

When it comes to creating your succession plan, many things can lead to its success or failure. After years of sitting in on succession planning workshops, however, we’ve found some common traits that overcome the difficulties to create a successful plan. Kindness and Empathy Showing kindness and empathy, especially when others in the family

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Time to talk mental health and succession planning

As a financial services business you might expect we focus on the numbers and business goals of a farm, but often we find ourselves sitting down with clients who feel lost after leaving the farm. Whether they’ve sold the property or handed over to the next generation we get asked the same question, “what

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Getting the succession plan conversation rolling

Stuck, that’s how most of our clients say describe starting a succession planning conversation with the rest of the family. Succession planning is an emotional topic with each generation coming at it from very different perspectives that make it difficult to get the process of succession planning started. Caught up in this is the

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Family Farms remain a strong business model

Despite the talk and headlines related to Australian farmland and foreign corporate ownership, the  family farm remains the dominant business structure in Australian agriculture. There is a good reason for that; families run their farm operation very different to a corporation. One of the great advantages of a family business is its ability to

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Five Tips for Leading a Family Business

Owning and managing a family business can be complicated because you have the added difficulty of managing family members with the day-to-day operations. However, it’s equally a rewarding opportunity as the family work together to build the business you want rather than another’s ambitions. There can be extra pitfalls along the way if you’re

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The Risks and Rewards of Working on the Family Farm

Working on the family farm can be very rewarding. Irrespective if you were born into it, married into or work for a family farming operation, you can benefit from all your hard work going back to farm without the formality that comes with corporate employment. However, with the rewards come challenges when something doesn’t

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Farm succession planning

Starting Farm Succession Planning

Farm succession planning is focused on the why, what and when with little emphasis on getting the discussion started. It’s not surprising given the sensitivity around succession planning, but it doesn’t need to be a bad experience if you start in the best possible position. From our starting point, Sprout Agribusiness thinks of farm

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Striking A Balance Between Rising Farm Asset Values And Compensating Family Members Not Working In The Business

• Treat the farm as a business • Plan for change and handover • Communication is the key to success Most family farms are complex beasts as each generation lays down decisions and operations over time, creating historical baggage along the way. From our experience, successful families manage this complexity by treating the farm

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Farms have people issues, not farming issues

Even the closest and most functional family will have rows from time to time. A farming family is no different, and sometimes what can start as a minor issue can snowball into a much bigger dispute that risks the family unity and the farm. This is why working through conflict is so essential to

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“Cannot recommend Sprout Ag enough for sorting out future plans, succession plans and identifying what roles there are and who is most suited!”

- Ross and Sophie Walters

“I gave them a crack and are very pleased with the outcome. They all have a farming connection, and although some of them like to drink bottled water, they will outdo any bank/broker you can find, purely on the volume of funds they handle”

- John Cole

“Saving $50K per year on what my agent was charging”

- John Cole


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