Farm succession is often complex, emotional, and uncertain. To help farming families tackle the issue, BCG is hosting a Succession Planning Workshop on Wednesday, March 12, from 9:00am to 2:30pm at the Birchip Community Leisure Centre, as part of GRDC’s RiskWi$e initiative. The event will provide practical discussions and expert insights to support a smooth transition between generations.
Guiding succession with experts
James Hamilton from Cultivate Advisory will lead the day, helping participants navigate the key challenges of succession planning. With years of experience supporting farm businesses, Hamilton understands that successful succession is about maintaining both business viability and family harmony.
“At the end of the day, the goal is for everyone to turn up at Christmas and be happy,” Hamilton says. “Good communication, planning, and clear expectations are key.”
Tackling the tough conversations
Succession involves financial, legal, and emotional considerations. The workshop will break these elements down into manageable discussions, helping families take control of their future.
Jack Langley from Farrell Goode Solicitors will delve into Capital Gains Tax and timing, including the implications that follow
Tim Findlay from Cato Advisory will discuss the characteristics of farm businesses that are well-positioned to transition to the next generation, ensuring long-term scalability and viability. He will also address how rising land prices have changed the dynamics of succession planning and what this means for those looking to transition their farms.
Beyond financial and legal considerations, succession planning is also about relationships and mindset. Neville Brady from Brows Up Consulting will lead a session on managing emotions and separating family relationships from business decisions. Participants will also complete a DISC behavioural profile assessment, helping them understand their communication and decision-making styles – an essential tool for navigating family dynamics.
Who should attend?
This workshop is designed for farming families at any stage of the succession process. Whether actively transitioning management, planning for the future, or simply seeking guidance, the session will provide practical insights and expert advice.
BCG RiskWi$e project manager Meg Conlan emphasises the importance of understanding risk when planning for the future: “Succession planning isn’t just about handing over the farm – it’s about ensuring the business remains viable for future generations. Having a plan in place helps avoid difficult, last minute decisions and sets the next generation up for success.”
Participants will walk away with actionable steps and a clearer understanding of how to begin or refine their own succession plans.
About RiskWi$e
RiskWi$e is a 5-year, $30 million national initiative (2023–2028) aimed at helping Australian grain growers navigate increasing levels of risk from weather variability and price volatility. By improving understanding of the risk-reward relationships in on-farm management decisions, RiskWi$e supports growers in making informed, confident choices that maximise rewards and minimise potential losses. RiskWi$e is conducted in partnership with grower groups, 6 action research group leads, research/extension partners, CSIRO and the Grains Research and Development Corporation (GRDC). Find out more https://grdc.com.au/research/partnerships-and-initiatives/strategic-partnerships/riskwise
To register for the event or for more information, visit bcg.org.au/events.
