Transcript Engaging NextGen Farmers National Farm Business Management Conference June 2013 Eric Richer and David Marrison Extension Educators, Agriculture & Natural Resources Ohio State University Extension.

Engaging NextGen Farmers
National Farm Business Management Conference
June 2013
Eric Richer and David Marrison
Extension Educators, Agriculture & Natural Resources
Ohio State University Extension
Goals of NextGen Farmer Series
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Seek out 20 and 30-something farmers
Survey for background information
Multi-year program to fill those needs
Develop a “young” farmer network
WHY Focus on NextGens?
• Nationwide, 57% of Farm Operators are 55+
• In Ohio:
– 26% of farmers are 65+
– 39% of land is held by those 65+
– Ag is $94 billion industry
HOW to Reach NextGens
• Contact Ag Teachers, Farm Bureau,
agencies, 4-H agent, local farmers, etc
• Luncheon post-harvest to discuss needs
• Text, email, call,etc.
• Low cost program…$20 total for 2013
WHO are my NextGens?
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Preferably those with recent “skin in the game”
Daytime off farm; “moonlight” farmers
Those wishing to return to the farm
Children of mid/large producers – work for farm
• Focus in 2013: commercial agriculture.
WHEN and WHERE
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WHEN:
February/Winter
3-4 weekly meetings
Mondays
2-2 ½ hr sessions
• WHERE:
• Local Extension Office
• Restaurant??
WHAT is the Content of the Program?
• 2013 Emphasis:
– Financial Health
• Balance Sheets, Income Statements and Budgets
– Risk Management
• Overview, Production Risk, Legal Risk
– Transition Planning/Farm Succession
• How to start the succession conversation
• Keynote Speaker
WHAT is the Future Content of the
Program?
• 2014 Survey Results
– 3-4 February Evening Sessions of 2 hrs
– Content Requests:
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Continuation of Farm Succession
Continuation of Farm Financial Analysis
Computerized Record Keeping (Quicken/Excel ©)
Commodity and Direct Marketing Strategies
Precision Agriculture Technology
International Ag Tour
Success Factors…
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Involve and invite NextGen spouses
Invite the “older generation” to a session
Utilize local production agriculture “experts”
Simple homework assignments
Allow for social time
Measureable Outcomes
• 92% of participants plan to participate in next year’s program.
• 100% agreed that the program improved their ability to
calculate net worth, farm profit, and the unit cost of production.
• 92% agreed that the program improved their understanding of
business structures used to limit liability and how to manage
production risk.
• 100% agreed that they learned useful strategies to start the
farm succession conversation and they plan to have a formal
conversation with the “current generation” in the coming year.
Farm Transitions
Advice for Transition Planning – Play Dead
Would
the
NextGen
be
ready?
9 Questions to Ask about Your Future
• What do we desire to happen to our
business?
• Is there a “future” for the business?
• How do we develop the next generation of
managers?
• How can each generation communicate
their needs, desires and aspirations?
9 Questions to Ask about Your Future
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Are plans being made for retirement?
What are our plans for the unexpected?
How can I treat my heirs fairly?
What is the best way to transfer my farm
and personal assets?
• How do I get my financial affairs in order?
Questions and Contact Info:
Eric Richer
David Marrison
ANR Extension Educator
Associate Professor and
ANR Extension Educator
Ohio State University Extension
Fulton County County
[email protected]
419-337-9210
Ohio State University Extension
Ashtabula & Trumbull Counties
[email protected]
440-576-9008