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

Get Embed Code

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

U.S. Farmer Sentiment Erodes Further in June

Farmer sentiment declined again in June, as producers became less optimistic about both current conditions and the year ahead, according to the latest Purdue University-CME Group Ag Economy Barometer on Tuesday. The barometer fell to 113 points in June, down from 119 in May. Both major components of the index weakened, with the Index of Current Conditions dropping five points and the Index of Future Expectations falling seven points. The current conditions measure was 26 points below its December 2025 level and reached its lowest point since December 2024. The June survey, conducted from June 15 to 19 among 400 farmers across the U.S., showed high input costs remain the dominant concern. Of the respondents, 47% listed high input costs as their biggest worry, well ahead of low crop and livestock prices at 23%. In a related question, 42% of farmers said high input costs were the main factor limiting improvement in their farm’s financial situation this year. Low output prices were c

Alberta Crops Continue to Improve, But Too Much Rain Is Becoming the Bigger Concern

Alberta crops are generally in better shape than they were a year ago, but for many producers the conversation has shifted from needing rain to finding a break in it. The latest Alberta Crop Report, covering conditions as of June 23, shows provincial crop ratings edged up to 69 per cent good-to-excellent, comfortably ahead of last year’s 50 per cent and above the five-year average of 64 per cent. While that’s encouraging, excessive moisture is beginning to create a different set of challenges across parts of the province. Frequent rainfall has delayed herbicide applications, slowed crop development and left some low-lying fields saturated. Producers in central and northern Alberta continue to report standing water and uneven emergence, while cooler-than-normal temperatures have limited crop growth despite generally favourable soil moisture. The regional picture remains mixed. Southern Alberta continues to post some of the province’s strongest crop ratings, with timely rainfall sup

Alberta Crops Are Primed for a Big Year—If Farmers Can Get Into Their Fields

By the time the calendar turns to July, Alberta farmers usually have a pretty good sense of what kind of crop they’re growing. This year, the answer depends largely on where you farm. The latest Alberta Crop Report shows much of the province heading into July with excellent yield potential thanks to abundant soil moisture. Provincial crop conditions remain well above long-term averages, and hay and pasture are responding to the moisture. But there is another side to the story. Frequent rainfall, saturated fields and limited spraying opportunities are creating mounting concerns over disease pressure, weed control and delayed crop development in several regions. While moisture has largely replaced drought as the dominant concern, too much water is becoming its own production challenge. Moisture Is No Longer the Limiting Factor Across much of Alberta, crops have access to plenty of water heading into one of the most important months of the growing season. Surface and sub-surface mo

Deere partners with ASW Distillery on spirits

Fiddler Combine Bourbon and Fiddler Steel Plow Rye helps celebrate American ag

Global Oil Output Rebound Expected as EIA Forecasts Lower Fuel Prices Through 2027

The latest U.S. Energy Information Administration outlook points to increased global oil production and lower energy prices over the next two years.

© 2026   Created by Darren Marsland.   Powered by

Badges  |  Report an Issue  |  Terms of Service