“The challenge is the cost for that next generation to get into the business, especially if their parents are still farming,” Holt said. Farmers tend to be asset rich, but cash poor, which poses a challenge because of the upfront investment, including the cost of land and equipment, associated with expanding today’s multi-million dollar farms, he added.
“Want to expand your farm for the next generation? Want to buy out some of your landlords? Want to work your way out of a difficult financial situation? A Canadian company called Area One Farms partners with producers to meet these sorts of objectives.”