Some investment groups are considering strategies that allow you to invest in various farming operations in South Africa. This is not a bad idea, so long as you only invest through reputable entities, says Shane Brody.
Lack of succession planning is one of the key reasons why so many family agribusinesses fail to last, writes Trevor Dickinson. Very few businesses that are simply ‘handed over’ in an informal manner will survive.
The owners of the most successful family agribusinesses understand that their enterprise is not a possession. Instead, it’s a legacy they are obliged to take care of for future generations, says Trevor Dickinson.
This article, the first in a series by Integrated Water Use License Application Management, is aimed at helping farmers to better understand relevant water-use legislation and regulations in South Africa.
Disagreements on operational matters need not be a problem for a family agribusiness. On the contrary, if members work together to solve their problems, the solutions will be that much better, says Trevor Dickinson.
With more diversification comes more risk, says Andries Wiese, national business development manager and head of agri insurance at Hollard. Producers need to work on a risk management strategy tailored to their business’s specific needs to protect them against loss and financial liability. He spoke to Susan Marais about how to approach this task, and where to get the right sort of advice.
It stands to reason that without marriages, family businesses cannot continue. But the integration of in-laws into the business introduces complex dynamics. Trevor Dickinson suggests ways in which new spouses and family businesses can cope effectively.
Rural crime, including stock theft, can be fought or prevented by working together as a community and employing high-tech security systems. Willie Clack, vice-chairperson of the Red Meat Producers’ Organisation, and Francois van Zyl, marketing manager at Etse Electronics, spoke to Susan Marais.
It is critically important to address common problems before you get down to the business of succession planning. Addressing these challenges proactively and in a positive way will enhance a family agribusiness’s chances of enjoying continued success and prosperity, says Trevor Dickinson.
Inflation is rising steeply, jobs are scarcer than ever, and food insecurity is an increasing problem in many communities. Now is the time to create small food enterprises, says Shane Brody.
Handing a family agribusiness over to the next generation involves financial as well as personal decisions. And personal decisions with financial implications are the most difficult of all!
You’re never too experienced to learn. Roelof Bezuidenhout explains why farmers’ days and other get-togethers are such a valuable resource.