A publication by the Clemson Cooperative Extension Service that guides farmers through the process of keeping farms in the family was named a 2021 Notable Document by the South Carolina State Library.
The publication, Business Transfer Guide: Senior Generation, was written by Clemson Extension Agribusiness associate Steven Richards. Richards is part of a team of Clemson Extension agents and specialists who provide information and education on the use of business and economic principles for making decisions involving agriculture, natural resources and communities. The Clemson Extension Agribusiness Team is based out of Clemson’s Sandhill Research and Education Center in Columbia, South Carolina.
“The goal of this workbook is to keep the farm transfer discussion moving forward, as families often put off these sorts of discussions for too long,” Richards says. “This workbook has fill-in-the-blank worksheets, farm transfer examples and thought-provoking questions for the senior generation of farm owners. My hope is that farm families in South Carolina can use this workbook to get the farm transfer process started.”
The publication is part of a series of business transition workbooks that takes farmers through the farm transfer process step-by-step at their own pace. It is one of an array of Clemson Extension Agribusiness resources and programs on topics such as starting an agricultural business, creating a joint business agreement, using farm assets for retirement, estate planning for farm families and much more.
“The agribusiness team receives requests each year for information or assistance with how to begin and plan for succession of a family farm,” says Nathan Smith, Clemson Extension Agribusiness Program Team leader. “Some farm transitions are planned, some are not. The workbooks are a great tool to use no matter what stage of farming or agribusiness you are in, starting an agribusiness, partnering through a joint agreement, succession planning or planning for retirement.”
For more information or a copy of this guide and other business resources, go to www.clemson.edu/extension/agribusiness/sccced/resources.