Transitioning Your Farm Business

An advisor can provide great guidance for your farm, as well as assist in creating a farm business transition plan. Their unbiased opinion, as well as knowledge from working with other farmers like yourself, can help guide you down a path, you might never consider otherwise. Check out our resources to learn more.

Farm Transition Toolkit

The Farm Transition Toolkit aims to support Canadian farmers through all stages and types of farm transition. Whether you’re in the midst of implementing a transition plan and need help to keep the momentum going, or you’re just starting to think about transition. And, whether you intend to keep the farm in the family or look at other options or you’re looking for an opportunity to get into farming. The Toolkit will direct you to the tools, resources, and professionals you need to support your transition journey from assessing your situation to creating and implementing your plan. You’ll also discover why the most successful farm businesses have a transition plan – from research to inspiring stories.

Farm Financials Toolkit

The Farm Financials Toolkit is designed to help you track and analyze your farm’s financial performance like never before. In Canada, accounting firms and farms each have their own way of setting up their financial statements. However, this becomes problematic for farmers who seek to benchmark their performance year over year, and against other farms. It also becomes problematic when farmers want to see how their management practices impact their financial performance and seek areas for improvement.

Business Score Card

Are you keeping score of your business? If not, how do you know if you’re winning? The AMI Business Score Card is a management tool that measures your current performance and management practices so that you can plan for greater success.

Choose Your Own Succession

This is a step-by- step guide that will walk you through a farm business transition plan tailored specifically to you, whether it’s within your family or not. Whether you have identified a direct descendant, identified multiple direct descendants, have no clear direct descendant, or looking to sell to extended family (or a non-family manager) this tool will guide you through your current situation towards building a sound transition checklist.

MNP Farm Transition Assessment Tool

When you take a step back and look at everything you have worked so hard to build – your legacy – you never want to leave anything to chance. With succession planning there are many questions that need to be answered. Important questions that ensure you transition your farm on your terms.

Getting a clear picture of your own situation is important, and taking the TransitionSMART™ Assessment is a fast and easy way to begin answering your questions.

Advisor Support

These resources and tools help tackle the tough questions and conversations that need to be had when transitioning your operation. Whether it is to the next generation or a business partner, transitioning ownership can be a challenge without outside help.  These resources are designed to help you plan for a successful future.

AgPlan

AgPlan is powerful website developed to help rural businesses develop a business plan. AgPlan is free of charge for anyone to use individually or in educational programs. It is designed to provide customized assistance to different types of rural businesses. When you enter the site, you will be able to select your business type.