Sheep and beef farmers encouraged to prepare farm succession plan

It may be a difficult conversation to have, but sheep and beef farmers are being encouraged to prepare succession plans.

With more than half of sheep and beef farms expected to change hands over the next decade, industry group Red Meat Profit Partnership (RMPP) believes its an issue farmers need to think about.

RMPP chair Malcolm Bailey told RadioLIVE's Rural Exchange that many farmers avoid the topic.

"Farmers have said they find it hard to know where to start the conversation because of the emotional attachment they have to their farms and the tensions of handling significant assets, often with competing family interests," he said.

Beacuse of that, a series of workshops have been organised on the topic. 

"This is an opportunity to help farmers work through these issues and plan for positive outcomes," said Mr Bailey.

The RMPP workshops will offer resources and advice on a range of options available as farmers look at entering or exiting farm business ownership.

"Some farmers have sons and daughters who are not interested in taking over the farm but grandchildren who might."

Find further information on the workshops including locations and dates here. 

Watch the full interview with Malcolm Bailey above.

Rural Exchange with Hamish McKay, Sarah Perriam and Richard Loe, 5-7am Saturday and Sunday on RadioLIVE with Carter's Tyre Service. Click here for all the ways to watch and listen.