Planning and succession are necessities when it comes to a future career in farming.
These were the take home messages from the Macra na Feirme Young Farmers Positive Forum in association with AIB in Birr recently.
The forum was designed to equip young farmers with essential information for their future farming career and formed part of Macra’s Young Farmer Skillnet.
The day involved two farm walks the first of which was on the farm of new entrant dairy farmer Padraig Keane who started farming in 2013.
He told the Macra seminar that planning was a necessity when considering a future career in farming.
He cited financial planning as essential and that young farmers must consider the impact of any investment on cash-flow, turnover and profit.
Keane added that focusing on performance indicators is essential for the success of his business.
“I know pay more attention to these key measures such as the spring rotation planner, six week calving rate and the various costs of production.”
The second farm walk took place on the farm of Ray, Mary and Raymond Dempsey and focused on succession/progression planning.
During this walk Austin Finn of the Land Mobility Service discussed how good communication is needed for successful succession.
He said that families must know where the farm is going and that there must be a clear plan in place.
“There must be good communications and a clear progression within the family,” he said.
Raymond Dempsey also discussed the importance of planning farm investments. Dempsey said that young farmers must understand the investment fully before even considering financing the project.