Ontario Agriculture

The network for agriculture in Ontario, Canada

Skrypnyk Group Interview on Family Business Succession Planning & Strategy: Part 2

We have previously discussed how business owners often begin their businesses due to their love of creating something. There is an element of attachment and control that is naturally felt towards your business and it can be hard to give up some of this control. Business transition will happen at some point. A properly planned transition is imperative if you wish to maximize the value that is obtained while making the transition as smooth as possible.

In the second of three video clips, Wayne Skrypnyk discusses various factors that will impact the ultimate result of the business transition. The senior or departing generation has its own set of things to consider. What is the right timing to exit the business? What will the transition mean for their financial retirement? What will they do if they are not running their business? Sometimes this generation needs some help in understanding and realizing what the rest of life outside of work will be able to offer them and their family. What is it that they really want their life to look like?

The junior or incumbent generation will face challenges as they build the business throughout their lifetime. This generation is also important to the business transition process. Before the senior generation is willing to transfer ownership, the importance of the next generation in demonstrating leadership is extremely important. Both generations need to communicate in order to understand the common goals of the successful transition.

Rating:
  • Currently 0/5 stars.

Views: 118

Comment

You need to be a member of Ontario Agriculture to add comments!

Join Ontario Agriculture

Agriculture Headlines from Farms.com Canada East News - click on title for full story

$15.1M to Scale Whole-Cut Plant-Based Protein

A $15.1 million investment led by Protein Industries Canada will scale a breakthrough manufacturing platform for whole-cut protein alternatives, strengthening Canada’s food system and creating new value for Canadian-grown crops.

Syngenta Canada names Matt Legg as head of professional solutions

Syngenta Professional Solutions North America and Syngenta Canada have named Matt Legg as head of Syngenta Professional Solutions (SPS), Canada, effective June 1, 2026. In his new role, Legg will lead the Canadian SPS business and be responsible for driving strategy, customer success, and portfolio growth across the Canadian market. "Matt is a customer-focused, solutions-oriented leader with deep technical expertise and a genuine passion for the professional solutions industry," says Dave Ravel, Head, Professional Solutions, North America. "His ability to connect technical knowledge, market insight, and commercial priorities has consistently delivered meaningful value for our customers. Matt's strong industry background and proven leadership make him exceptionally well positioned to guide our Canadian SPS business into its next chapter." Legg brings more than 25 years of experience in the turf industry, including five years of dedicated SPS experience with Syngenta, to this leadershi

Ag Canada Bumps New-Crop Canola Ending Stocks Estimate Higher

Agriculture Canada has raised its 2026-27 canola ending stocks forecast from last month, although the outlook is still tight overall. In updated monthly supply-demand estimates released late Thursday afternoon, new-crop canola ending stocks were pegged at 1.319 million tonnes, up from the April estimate of 1.064 million but still well below the slightly downwardly revised 2025-26 ending stocks of 2.72 million. Even with this month’s increase, projected 2026-27 canola ending stocks would still be the lowest in 10 years, Ag Canada said. The higher new-crop canola ending stocks estimate is due to a 300,000-tonne reduction in this month’s export forecast, which falls to 7.5 million tonnes. The 2026-27 canola crush forecast of 13 million tonnes was left unchanged from April but remains a new record high. In its accompanying commentary, Ag Canada did note that seeding of the 2026 canola crop is off to a slow start in some parts of Western Canada due to cold and wet conditions, but i

Seeding progress made, despite mixed precipitation

Seeding is muddling along as 29 per cent of the provincial crop has been planted so far, according to the latest crop report from the Saskatchewan Ministry of Agriculture. While it's up from 16 per cent last week, it's really behind the five year average of 55 per cent and the ten year average of 52 per cent. Crop Extension Specialist with the Ministry of Agriculture Davidson Ugheoke says farmers in the south made the bulk of progress with the southwest at 55 per cent complete and the southeast at 41 per cent complete. The west-central region is at 30 per cent, the northwest 16 per cent, the east-central at 11 per cent and the northeast is still lagging behind at just three per cent complete. "A couple of my colleagues drove around the province, (and) you could see some action in some places, so by this time next week, I think we should have significant numbers up." said Ugheoke. A weather system last week brought strong winds and mixed precipitation through the province, with som

U.S. flour consumption continues long slump

Flour consumption continues its decades-long slide in the United States, according to a new report. Per capita wheat flour consumption fell to 126.6 pounds in 2025, continuing a trend that started around the turn of the century, according to the Wheat Sector at a Glance report produced by the U.S. Department of Agriculture’s Economic Research Service. That is well below the 146.4 lb. of wheat flour consumed per person in 2000. That is not great news for Canadian farmers. The U.S. was Canada’s fourth largest wheat market from 2021-25 , accounting for an average of seven per cent of sales. Jane DeMarchi, president of the North American Miller’s Association, said there are several reasons why consumption has tumbled. It began with the widespread adoption of low-carbohydrate diets, such as the Atkin’s Diet. The rise of the gluten-free movement exacerbated the problem. There was a brief reprieve from the downward trend during COVID-19, when people started eating comfort food at home

© 2026   Created by Darren Marsland.   Powered by

Badges  |  Report an Issue  |  Terms of Service