Succession planning in farming under the spotlight at Malvern event

A one-off special event, sponsored by Virgin Money, is being held next month at the Three Counties Showground in Malvern, Worcestershire, which will see experts share tips and solutions on succession planning in the agricultural sector.

Brian Richardson, UK head of agriculture at Virgin Money, who is taking part at the event called ‘Let’s Talk About Succession For You And Your Business’ hosted by Three Counties Agricultural Society, said: "It’s appropriate that the word ‘succession’ embodies the concept of ‘success’.

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"Family farming businesses are the backbone of our agricultural industry in the UK, and planning your succession from the current generation to the next is absolutely essential for the sustainability of the business into the future.

"This is particularly true in the present climate of uncertainty," he added.

"Farmers and their families are facing challenges to their economic viability right now, which makes financial planning particularly critical, and places even more emphasis on making the right decisions on banking services and support to ensure the farm and the business can be passed on securely and successfully."

The event, on November 21 from 11am to 2.30pm, will feature a range of specialists, alongside farmers who have undergone succession planning themselves, and will include a Q&A session, breakout sessions, and the chance to network.

Also taking part is Jonathan Powell, agricultural business manager at Virgin Money, Lucie Hammond from the business advisory and chartered accountancy firm, Hazlewoods; Martin Waite, co-founder of Ashbridge Partners, Jon Johnson, founder of Mountain Perspective, Iain Morrison from MFG Solicitors LLP.

David Prescott, the CEO at Three Counties Agricultural Society (TCAS), said: “Succession planning is an essential process to protect assets, business interests and families.

"Here at Three Counties, we understand it is imperative to provide advice and guidance, to further support the future viability of the farming industry as a whole."

The event, which includes a complimentary light lunch, is free but online registration in advance is required. See HERE.