Succession is one of the biggest challenges faced by family businesses, including those in wine, says WK Business Advisor Hamish Morrow. “Often, starting the conversation is the hardest aspect.”
The event on July 13-14 at the Manawatu campus is hosted by OneFarm, the Centre of Excellence in Farm Business Management, a joint venture between Massey and Lincoln universities.
OneFarm team member Tom Phillips says national and international farm succession experts, rural professionals and industry representatives will attend the summit.
"The aim is to gather information so we can then produce quality professional development programmes for rural professionals," he says.
The issue of farm succession is one that needs addressing, Phillips says. "A recent survey by the ANZ Bank found 80% of farmers indicated farms succession was an issue for them, but less than 10 per cent had a succession plan in place. The tools are there, so why is this not happening?"
Phillips says with the value and size of farms increasing, and the complex dynamics of families, succession is increasingly becoming an issue.
Speakers at the summit include Matt Lobley of the Centre for Rural Policy Research at the University of Exeter in the United Kingdom, Heather Watson from Farm Management Canada and David Goeller of the North Central Risk Management Education Centre at the University of Nebraska in the United States.
Representatives from national stakeholder groups such as DairyNZ, the New Zealand Dairy Women's Network and Young Farmers will also attend.
The Centre of Excellence in Farm Business Management is a joint venture by Lincoln and Massey universities, with the support of DairyNZ and the Government through the Primary Growth Partnership.
It combines capability from both universities and co-ordinates the supply of research, education and professional development to meet the agriculture industry's needs.