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Farm Asset Protection Strategies: Safeguarding Agricultural Legacies for Future Generations

• Tuesday, November 14, 2023, 10:00 AM - 2:30 PM

Nicole Tommell and Steve Hadcock will host a workshop with CCE Essex on various farm asset protection strategies. Nicole is a Farm Management Specialist with the Central New York Dairy, Livestock, and Field Crops Team. Steve Hadcock is a Beginning Farmer specialist with the Capital Area Agricultural and Horticultural Program. Nicole and Steve have many years of experience working with farm families on farm management and estate planning topics.

Topics included are:

• How can I use my current records to gauge how well my business is doing? Various suggestions will assist you in looking at your records differently.
• What can I do to retain employees? Ideas will be shared on how to get new employees off to a good start. Also, ideas on how to help retain employees as well.
• Am I ready to consider diversifying my business? Thoughts on how to approach evaluating the diversification of your farm business will be shared.
• When and how do I start the succession process? It is never too early to begin discussing farm succession/transfer. Topics will be covered to help you feel confident to begin the process for your business. Shared topics may help you with your process if you have already started.

Each participant will receive written materials and a flash drive containing various resources. 

The workshop will be held on Tuesday November 14th at the Whallonsburg Grange Hall from 10-2:30. Locally sourced morning refreshments and lunch are provided.

Please register here by Nov 7th: Register Here

For more information about the workshop content, contact Steve Hadcock at seh11@cornell.edu or 518-380-1497.

Agenda

10:00 am – Welcome/ Introductions

10:15 am –Farm Management Records/ Reports

• Farm Financial Worksheet
• Case study
• Center for Farm Financial Score Sheet
• Participants will work individually on the case example and then discuss either in small groups or whole group discussions.
• Budgeting/ Cashflow /enterprise budgeting/Projections

11:00 am – Onboarding and Retention of Employees 

• Onboarding Employees – basic requirements of documentation, safety videos – NYCAHM, Sexual harassment, job descriptions
• Risk and how to avoid it.

11:45 am – Lunch / Networking

12:30 pm – Diversification Opportunities (Tools to Evaluate a proposed business opportunity)

• Partial Budgeting Case Study
• Strengths/ Weaknesses (SWOT Analysis for the example business)
• Open Round Table Discussion on the SWOT

1:15 pm – Succession/Transition Planning

2:00 pm – Local Topics (30 minutes) round table discussion from producers

2:30 pm – Wrap up/ adjourn

Fee

free

Location

Whallonsburg Grange Hall
1610 NYS Route 22
Essex, NY 12936

Last updated October 13, 2023