Congratulations to Rural Coach Partner Brett Robinson on completing the Kellogg Rural Leaders Programme – Cohort 55 and publishing his research report, A Look at the Impact of Financial Literacy Amongst Families When Contemplating Succession Planning.
Succession Planning is about much more than deciding who will take over the farm. Brett's research explores the financial realities that farming families face when balancing retirement, intergenerational wealth, debt, and the long-term sustainability of the family business.
Drawing on insights from accountants, bankers and Succession Planning facilitators, alongside financial modelling of New Zealand farming and horticultural businesses, the report highlights why improving financial literacy and starting succession conversations early are critical to achieving successful outcomes for all generations.
We encourage all farming families and rural businesses to take the time to read Brett's report:
Read the report here:
https://ruralleaders.co.nz/report/a-look-at-the-impact-of-financial-literacy-amongst-families-when-contemplating-succession-planning/
Note: This is a comprehensive report, so if you're short on time, make sure you read page 26. It explores the impact of not planning early for parents' retirement and the financial pressure this can place on family businesses, particularly when the next generation is expected to take on significant bank debt while also providing an adequate retirement income for their parents. It's a powerful reminder of why starting the succession planning journey early is so important.
