« Back to list

Fri18thFeb

Training the Next Generation

Providing family enterprises critical information to enhance their knowledge on the process of succession planning, Training the Next Generation, was presented by the Economic Development Alliance of Southeast Alberta’s Agriculture Committee on February 18th, 2011. The event highlighted the importance of starting to plan early, taking into consideration different generation characteristics and family dynamics and the effect it can have on business success.

“The seminar was focused on maintaining a rural way of life, and keeping agricultural businesses within the family,” said Randy Lehr, Chair of the Agriculture Committee. “The EDA’s Ag committee is comprised of representatives from the industry who are active leaders in many facets of agriculture; it’s this committee that came up with the idea to host the event- it’s a very important topic at this time in rural Alberta.”

Over 50 participants attended the event, expressing the value of assessing how their operations are currently running, identifying opportunities to perform at higher levels and ensuring the transition to the younger generation is effective. Representatives from Meyers Norris Penny spoke on topics such as: farm re-organization options and tax structures as well as marketing options and creative execution of change management.

“Participants expressed interest in having another one of these events and the EDA Ag Committee is considering hosting one annually,” said Tracy Heebner, Rural Business Enhancement Officer for the EDA. “Next year, we are looking to possibly bring Elaine Froese in, a family farm coach who can assist with resolving family conflict for healthier agriculture businesses. It’s important for businesses to not only think of planning, but that they start talking sooner, rather than later - her approach would get the conversation between generations happening.”

Training the Next Generation was sponsored by Meyers Norris Penny, TD Canada Trust, Counties of Cypress and Forty Mile, CIBC, Alberta Equestrian Federation and Alberta School of Businesses’ Creating Pathways for Entrepreneurial Families Project- an initiative funded by Rural Alberta’s Development Fund.

Event highlights, PowerPoints and additional resources will be made available online at www.edalliance.ca. For more information on agriculture in southeast Alberta or to find out how the EDA can assist your business to grow contact Tracy Heebner at 403-488-7015.

*videos will be available at a later date- please check back

More About the Event