The Rural Voice, 1999-04, Page 21best if a child has a unique business
enterprise.
Too often a cattle farmer puts a
couple of calves in a child's name,
generally denying to the child true
ownership of that enterprise. If we
quash a child's enthusiasm for an
enterprise, no matter how outlandish
it may sound, we will destroy the zest
for creativity and the team spirit we
are trying to cultivate. If we want our
children to be a part of our team later
in life, we must incubate that team
spirit early. Obviously if we structure
our farms around direct marketing,
we open up many more opportunities
for entrepreneurial experiences to our
children than they would have if
everything is sold wholesale to one
buyer.
3. Multiple use everything. Nothing
makes the next generation feel more
enslaved than the feeling that they
must keep doing everything exactly
the way Mom and Dad did.
And the surest way to convey
that emotion is single use
equipment, buildings and
markets. When we're beholden to the
banker, the buyer and the builder, the
next generation realizes the
entrapment and will try to escape.
The more money a farm ties up in
expensive infrastructure, the Tess
flexible it is. How many farmers
cannot conceive of going to grassland
farming because they have so much
time, money, energy, and emotion
tied up in planting annual crops and
filling silos? That's why it's much
easier to make big changes on small
farms. than Targe ones; it's the
difference between turning around a
speedboat and an aircraft carrier.
When we have lean and mean
small farms we can adapt to new
trends or technology painlessly. But
if we have a $250,000 confinement
hog house and the new paradigm is a
$50,000 deep -bedded hoophouse, or
grass -based, rotationally -grazed
house -less production, change is
extremely painful. For one thing, the
expensive house has us indebted up
to our eyeballs and the banker wants
his money. We have to keep running
hogs through there to generate cash
flow even if we don't make a nickel.
And nothing makes our children feel
more enslaved than that.
Our children must see
opportunities to make relatively
Managing a farm is never easy
he business of farming, getting
1 tougher. You need professional
advisors who are able to make sense of
the big picture, while still being able
to take action on the details.
That's why BDO offers a spectrum
of professional services including:
• Pre -year end tax planning
• Income tax return
preparation
• GST problem solving
• NISA application assistance
• Capital Gains tax planning
• Intergenerational farm
transfers
• Estate planning
• Accounting/bookkeeping
Our fees are competitive, our service is personal. CaII us ttaiay.
We'II help you succeed.
Hanover
364-3790
Wiarton
534-1520
IBD0
Walkerton
881-1211
BDO Dunwoody, LLP
Chartered Accountants
and Consultants
Mount Forest Port Elgin
323-2351 832-2049
Owen Sound
376-6110
Kincardine Wingham Orangeville
396-3425 357-3231 941-0681
Talk to us about our complimentary review of your
operations and last year's financial records.
SEED & GRAIN
CLEANING SERVICES
• Secan varieties available
• Custom seed cleaning and treating of your own seed
• Custom grain cleaning for feed
• Truck available for pick-up and delivery
• Bags, totes and bulk available for
both seed and feed orders
Dealer inquiries
welcome!
Se&n
theJ. of u surc"ful barn
BRANT QUALITY SEEDS INC.
Cty. Rd. 10 N. of Hanover
Phone: 519-364-1525 Fax: 519-364-3835
APRIL 1999 17