Family businesses in and around the Central West region will have the opportunity to receive valuable tools and advice on succession planning from a team of industry experts at a FREE, one-day workshop to be held in Parkes on Thursday 28 November 2019.
Following the success of a similar event held in Narromine earlier this year, the National Association for Loss and Grief’s (NALAG) ‘Our Shout’ program coordinator, Ms Brenda Baker, is hoping to improve the experiences of succession for a greater number of family businesses. “The workshop in Narromine was attended by over 120 people and the feedback we received was overwhelmingly positive,” she said.
NALAG’s ‘Our Shout’ program promotes positive strategies to improve well-being and resilience in rural NSW communities. “Communication in family-run business is crucial not only for financial success but also the emotional and mental well-being of all family members that are involved in the partnership. Family members that are able to express their needs and concerns in a way that is productive and supportive of other family members often leads to healthy and long term sustainable family partnerships that are able to weather the hardships of not only drought but of the many other challenges that face rural and regional communities,” said Brenda Baker.
The workshop’s expert panel will include Family Succession Advisor, James Hamilton and Succession Law Specialist, Claire Booth. Ms Booth says drought conditions should not deter families from succession planning, “The impact on the drought for some farming families has meant people are stuck in a holding pattern, waiting for things to improve before starting or finishing succession planning. However, what we’re hearing from the banking sector is if a family has been thinking about a succession plan now is actually a good time to sit down and discuss the options.
“Farmers rarely want a hand out, but a hand up – they want to be in charge of their future, and what happens to their land, especially when it comes to handing over assets or management to the next generation,” said Claire Booth.
Regional Development Australia Central West’s (RDA CW) CEO Mr Sam Harma added: “This workshop will ensure attendees from across the Central West are empowered with powerful new communication skills, take home checklists on how to approach the succession plan as well as insights from the banking sector as to how best approach the bank when things are tough, cash flow is low, equity levels are stretched and the impact of drought affects even the most informed plan. Family businesses are the back-bone of our communities and we’re positive that the new skills and tools learnt at this workshop will have positive outcomes across the region.”
The ‘Family Matters: Succession Planning Workshop’ will be held at Parkes Services Club from 9am-4pm on Thursday 28 November 2019 and is supported by: Regional Development Australia Central West, Parkes Shire Council, Rural Financial Counselling Service and the Department of Primary Industries’ Rural Resilience Program.
The workshop is FREE but registration essential. Registration is NOW OPEN and will fill fast.
*A downloadable FLYER detailing the event is available here or directly from the above website.
*It would be appreciated if you think this free workshop might be of interest to members of your community if you can distribute or post these flyers up on any relevant notice boards to help spread the word to assist families in our region.
RDACW’s CEO Sam Harma with RDACW’s Chair Christine Weston. Photo Credit: Central Western Daily
Spring is here and it’s an exciting time in the Central West. There are a number of NSW Government grants which close at the end of the month, this includes the popular Stronger Country Communities Fund. I encourage all community groups to take up these opportunities when they arise. RDA Central West is happy to support applicants by providing general advice on grant applications, and the process for submission.
All budding photographers in our region should also make the most of the recently launched ‘Central West is Best’ photography competition. This provides an opportunity to shine a spotlight on the people, the produce and passionate communities which make our region so great.
Lastly, I must congratulate all involved with the STEM Industry School Partnerships Program across the Central West which was recently recognised through the 2019 NSW Minister’s and Secretary’s Awards for Excellence.
RDACW’s Chair Christine Weston welcomes new CEO Sam Harma. Photo Credit: Central Western Daily
The Central West has a vibrant and resilient agricultural sector. The red meat industry is a major employer of our region and was on show last week at the Agribusiness Today Forum held this yearin Cowra.
Over 100 delegates attended and learnt about innovative ways to maximise red meat yields and market opportunities. On behalf of RDA Central West, I would like to thank all sponsors, partners and committed organisers for their support to help create such a successful event.
The Agribusiness Today Forum grows in importance each year. Providing the region’s agricultural industry with avenues like this forum in times of drought are vital in both a business, networking and learning sense.
We’d love to hear your feedback about what you might like to see as the focus of a future Agribusiness Today Forum.
The Inland Rail and the Parkes National Logistics Hub are once-in-a-lifetime projects that will drive massive regional economic development and change.
Last week the RDA Central West Board were hosted by Parkes Council on a guided bus tour of the impressive National Logistics Hub site, where large machinery and significant earthworks have begun turning hundreds of hectares into what will be Australia’s most important inland freight and logistics hub.