10 Jun 2010

Nuffield scholar advises how to keep businesses in the family

12:57 pm on 10 June 2010

A Nuffield farming scholar is advising farmers on how to keep the business in the family without it ending in disaster.

Mandi McLeod is a Waikato-based agri-business consultant, who has two equity partnerships with her family; a dairy farm and a sheep and beef farm.

She says there has not been a lot of farmer-driven research into the continuation of the family farming business.

In her scholarship work, she looked at how to make the process run smoothly and ensure that both generations are well looked after.

Ms McLeod says many successors of family farms are unprepared for the business side of things, and often businesses that are being handed down are not viable.

She says families need to have an independent mediator or facilitator to help in the transfer.

Ms McLeod hopes families who are looking to pass on the farm to other family members read her Nuffield Scholarship report, so they know the pitfalls and challenges.