The Succession Gap: Why Two-Thirds of Farmers Face an Uncertain Future
05/29/2026
In a recent article posted on Farm Journal’s website, Rena Striegel, President of Transition Point Business Advisors, shared her concerns about the number of farms and farmers who do not have a succession plan in place in the event that something unexpected happened to them. Nearly 15% of American cropland—44 million acres—will change hands by 2030. That’s a lot of acres that will be going through some type of transition without a plan.
Rena shares, “According to the Farm Journal Seed & Planting Survey and Consolidation Index Predictive Model Analysis, only 34% of growing operations have a formal succession plan. Among benchmark producers, that number drops to 29%. For operations identified as at-risk, just 21% have a documented succession plan in place.”
In addition, she mentions that “…consolidation rarely happens overnight. It happens when pressure meets unpreparedness.” Health events, lender conversations, market downturns, unresolved disagreements and lack of leadership are common triggers for consolidation.
Generational transitions are happening all the time. It’s not something that can be delayed forever into the future. It takes time, and the sooner that the business leader takes the initiative to start the process, the better. Rena emphasizes, “Planning does not eliminate uncertainty - but it does provide framework and stability.” A proactive approach toward key decisions gives lenders confidence and the next generation clarity.
I have heard it said, “The best time to plant a tree is 20 years ago. The second-best time is today.” Succession planning is a similar situation. To have your future turn out like you want, you have to deliberately plan for that future.
We owe it to our clients to be sure they are actively developing a succession plan for their business. The longer they delay, the bigger their challenge and the greater their risk. They count on us to give them timely, appropriate advice, and this is an area that demands their attention.
Rena’s full article: https://www.agweb.com/news/business/succession-gap-why-two-thirds-farms-face-uncertain-future
= = = = =
This article is the opinion and perspective of the author and may or may not be consistent with those of anyone else. Mention of specific people or items in the article is not an endorsement of the individual, the company or the organization from which it originates.
= = = = = = = = =
Don Tyler
Tyler & Associates
ASAC VP/Secretary
In a recent article posted on Farm Journal’s website, Rena Striegel, President of Transition Point Business Advisors, shared her concerns about the number of farms and farmers who do not have a succession plan in place in the event that something unexpected happened to them. Nearly 15% of American cropland—44 million acres—will change hands by 2030. That’s a lot of acres that will be going through some type of transition without a plan.
Rena shares, “According to the Farm Journal Seed & Planting Survey and Consolidation Index Predictive Model Analysis, only 34% of growing operations have a formal succession plan. Among benchmark producers, that number drops to 29%. For operations identified as at-risk, just 21% have a documented succession plan in place.”
In addition, she mentions that “…consolidation rarely happens overnight. It happens when pressure meets unpreparedness.” Health events, lender conversations, market downturns, unresolved disagreements and lack of leadership are common triggers for consolidation.
Generational transitions are happening all the time. It’s not something that can be delayed forever into the future. It takes time, and the sooner that the business leader takes the initiative to start the process, the better. Rena emphasizes, “Planning does not eliminate uncertainty - but it does provide framework and stability.” A proactive approach toward key decisions gives lenders confidence and the next generation clarity.
I have heard it said, “The best time to plant a tree is 20 years ago. The second-best time is today.” Succession planning is a similar situation. To have your future turn out like you want, you have to deliberately plan for that future.
We owe it to our clients to be sure they are actively developing a succession plan for their business. The longer they delay, the bigger their challenge and the greater their risk. They count on us to give them timely, appropriate advice, and this is an area that demands their attention.
Rena’s full article: https://www.agweb.com/news/business/succession-gap-why-two-thirds-farms-face-uncertain-future
= = = = =
This article is the opinion and perspective of the author and may or may not be consistent with those of anyone else. Mention of specific people or items in the article is not an endorsement of the individual, the company or the organization from which it originates.
= = = = = = = = =
Don Tyler
Tyler & Associates
ASAC VP/Secretary
Post a new comment