Succession planning is a long-term job. In order to avoid struggles in this area, Sara Schafer offers five steps for successful succession planning:
Cultivate a strong and focused management team.
Maintain an accurate assessment of the business value of your farm.
Conduct an audit of the power structure of your business.
Regularly assess and …
The future of agriculture lies in digital farming, which will promote the integration of digital technology into current farming practices.
This article discusses the core concepts of digital farming and why the agricultural industry must integrate soon.
To view this article, click the following link to access the original content.
http://www.precisionag.com/service-providers/business-management/7-factors-that-could-make-or-break-digital-farming/
Moving food from the farm to the table requires a sophisticated supply chain that is now being run on advanced technology, such as analytics, automation, and augmented reality.
This article discusses the data-driven technology behind all aspects of the agricultural supply chain, and how that technology is changing the way we produce and distribute food.
To …
The U.S. agriculture industry could be hit hard with a potential trade war between China and the United States.
This article discusses what a trade war would mean for producers and those that export agricultural products to China.
To view this article, click the following link to access the original content.
https://www.cnbc.com/2018/03/23/fear-grips-agriculture-with-china-proposing-hefty-tariffs-on-pork.html
In the wake of the recent tax reform legislation, many business owners are reevaluating the structure of their organization and questioning whether it would be beneficial to convert from a C corporation to an S corporation, or vice versa. The following is a review of the two structures and the breakdown of the changes.
Similarities
A …
Agricultural technology (AgTech) is gradually becoming more important to our farmers and the agricultural industry as a whole.
This article discusses how AgTech has transformed, and how disruption has played a role in advancing the agricultural sector.
To view this article, click the following link to access the original content.
https://disruptionhub.com/agtech-investment-grows/
Farmers are getting a tax boost with the help of the newly passed tax law, which allows them to deduct the majority of their business costs.
This article discusses how the agriculture industry is responding to tax reform, and what deductions will mean for farmers going forward.
To view this article, click the following link to …
The Tax Cuts and Jobs Act will, for the most part, benefit American farmers. However, there are those who might not benefit as much as others.
According to an article from American Agriculturist, “Farm Credit East tax experts have reviewed the 2017 Tax Cuts and Jobs Act — the largest overhaul of the U.S. tax …
It has become increasingly easy for those in rural areas to connect with a larger customer base thanks to the Internet and the creation of social media. With these communication tools comes a responsibility for farmers and producers to explain to their customers how their food is made.
In an article from Farm and Dairy, …
In an exciting turn for farming, Smart Ag, an Iowa-based ag technology firm, has successfully tested AutoCart, a system allowing existing farm equipment to operate autonomously and is selling a limited number of the systems this year, writes Ron Swoboda for Farm Industry News.
Swoboda details the following benefits of this new system:
Helps solve …
