Central Gippsland farmers have the opportunity to develop skills to assist with family farm succession and business transition at a complementary Rabo Client Council-hosted information session.
The practical Business Transition and Succession Planning information session will be held in Traralgon in late April.
The initiative has been spearheaded and funded by food and agribusiness banking specialist Rabobank's Rabo Client Council, a group of the bank's farming clients who volunteer their time implementing programs that contribute to the sustainability of rural and regional communities.
The, interactive session – which is free of charge – provides practical information, such as why family and business communication can be difficult and how to improve it, what makes a meeting work and how to take account of differing family goals.
The information session – which will be limited to 30 participants and is not restricted to the bank's clients – will be presented by content and facilitator partner, Transition Partners director Jim Benson.
Rabobank state manager Sally Bull said, given the "inherent complexities and challenges of generational transitions," it is important for family farming businesses to cultivate expertise in business transition and succession planning.
Ms Bull said navigating this transition goes beyond legal and financial aspects – "it requires developing strategies and plans to uphold the core values of the family farm and secure the business's long-term success."
The session content includes how to start the conversation about business succession, Ms Bull said. "During these sessions, participants will delve into key aspects of organising their initial meeting to discuss next steps in management, business, property, and wealth transition. Additionally, practical tools will be offered to aid in the planning process, resolve family and business conflicts and address family-related issues,"
she said.
"The information sessions provide a supportive environment for couples and family members to attend together. They give farmers a unique opportunity to take a break from their daily work and engage in shared learning."
Ms Bull highlighted the importance of proactive planning in ensuring a smooth business transition. "Initiating succession planning early is recommended, as postponing the process and necessary discussions can heighten potential conflicts due to differing individual expectations," she said.
Rabobank's Rabo Client Council network is focussed on developing meaningful grassroots initiatives for rural communities to support key themes focusing on building industry capacity, championing rural-wellbeing, sustainability, and strengthening the rural urban connection.
Ms Bull said the information session aimed to empower primary producers and "provide them with the key elements for achieving success".
"And they equip producers with the tools to create continuity plans, to help secure the long-term success of family farming enterprises for future generations. Moreover, this positive influence extends beyond individual farms, supporting rural and regional communities and strengthening the resilience of the local farming sector.
"If you're interested in attending the session, keen to meet other progressive farming families and develop new skills, confirm your place before the sessions are fully allocated."
Information session details:
- Tuesday, 29 April 2025 – 8.30am – 2.00pm (Traralgon)
To register to participate, visit the Rabobank website or click here
Morning tea and lunch will be provided.
