In transition, a buy-sell agreement process needs to be established upfront and periodically revised.
One piece of advice that is suggested is for new graduates to work away from the business for a couple of years.
What's your operating expense ratio?
"Pushing debt down the balance sheet" can only work so many times without corrective action from farmers when it comes to operations.
Change is happening in all parts of agriculture.
If a construction project is in the expansion plans, overestimate the cost of materials and inputs by at least 25 percent.
Being handed a projected cash flow would be a lender’s dream
The current economic downturn is much different than the 1980s farm crisis
Loans that are in financial difficulty are placed into a special asset division at financial institutions.