Business Succession: Planting the Seeds for an Abundant Future

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This article first appeared in the spring 2013 issue of Certified Organic Magazine.

Certified Organic Magazine is a quarterly publication from California Certified Organic Farmers (CCOF). Geared towards organic enthusiasts, this information-packed publication includes feature articles, client spotlights, certification news, advocacy updates, producer resources/tips and events.

Written by Jay Silverstein, partner at the business and accounting consulting firm, Moss Adams.

Whether retirement is near or far, thinking about who will take the reins and lead your farm into the future isn’t easy, but it’s especially relevant these days. According to the USDA’s National Institute of Food and Agriculture (NIFA), approximately 70 percent of U.S. farmland will go on the market in the next 20 years as the nation’s farmers age. Without a succession plan, many family-run farms are likely to go out of business, be bought by larger farms, or get turned over to real estate developers or other purchasers for nonagricultural use.

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