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Wednesday, July 23, 2025
Cumberland and Westmorland Herald
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    Eden man competes in Hyrox World Games

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Cumberland and Westmorland Herald
  • News
    Appleby car park and road to close for flood work

    Appleby car park and road to close for flood work

    Road closure plans for essential bridge repairs

    Road closure plans for essential bridge repairs

    Penrith drug dealer jailed

    Penrith drug dealer jailed

    Man who damaged Penrith’s Paddington Bear appears in court

    Man who damaged Penrith’s Paddington Bear appears in court

    Mandatory payrolling of Benefits in Kind delayed

    Mandatory payrolling of Benefits in Kind delayed

    Youngsters raise cash for Penrith food bank

    Youngsters raise cash for Penrith food bank

    Commissioner promises improvements to Cumbria’s fire and rescue service

    Commissioner promises improvements to Cumbria’s fire and rescue service

    Illegal campers fined for causing significant damage in Lake District

    Illegal campers fined for causing significant damage in Lake District

    Man dies after falling from A66 bridge

    Man dies after falling from A66 bridge

  • Sport
    New management set to lead Appleby Football Club

    New management set to lead Appleby Football Club

    Success for fighting squad

    Success for fighting squad

    Penrith skipper Nicky Burns calls on team to keep winning

    Penrith skipper Nicky Burns calls on team to keep winning

    £100,000 target for new changing rooms extension

    £100,000 target for new changing rooms extension

    Medal success for Upper Eden tug-of-war team

    Medal success for Upper Eden tug-of-war team

    Eden man competes in Hyrox World Games

    Eden man competes in Hyrox World Games

    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

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Home Farm and Countryside
This article appears as part of a paid partnership with Armstrong Watson

When is the best time to think about succession planning?

By Andrew Robinson, head of agriculture, Armstrong Watson

by CWH
27 December 2023
in Expert advice, Farm and Countryside
A A
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Andrew Robinson, of Armstrong Watson

Succession planning is a vital process for any agricultural business to ensure the business continues to be successful for the younger generation, whilst allowing the current owners the ability to step back.

However, many farmers tend to avoid or delay discussing it as it can be too complex or challenging.

So, when is the best time to think about succession planning in farming? The answer: as soon as possible!

Start succession planning as early as possible

Succession planning is not something that can be done overnight or in a hurry.

It requires careful consideration of the needs and goals of all of the individuals involved, along with those of the wider family, and the earlier these conversations begin, the more successful the outcomes are.

Allowing enough time to prepare the successor for the responsibilities and challenges of running the farm provides the opportunity to implement the necessary changes and adjustments to the business structure and operations.

Planning ahead also allows for more time to test the feasibility and suitability of any changes, and to make any further changes if required.

Starting early does not mean that everything has to be decided or finalised right away. Succession planning should be an ongoing and dynamic process that should be reviewed and updated regularly, based on the changing circumstances and preferences of the family and the farm.

For example, the current owner may change their mind about when or how they want to retire, the successor may now have different needs or goals based on their family situation, or the farm may face new opportunities or challenges in the market.

Successful succession planning

The key to successful succession planning is to have open and honest communication with your family, and to consult your accountant and solicitors.

They can help to facilitate the discussion, provide guidance and information, and offer solutions and alternatives to the potential issues and conflicts that may arise.

By thinking about succession planning early and regularly, you can ensure that your farm business is in good hands for the future, and that your family is well prepared and supported for the transition.

This can also reduce the stress and uncertainty that often come with succession and allow the family to focus their time and effort into the running of a successful business.

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