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Human Resources & Labor

Is it Feasible for my Farm to Add an Operator or Hired Employee?

As a farm expands, it is important to evaluate the feasibility of adding an operator and/or hired employees as well as the feasibility of purchasing or renting additional land, and machinery and equipment. The feasibility of augmenting labor on a farm depends on two critical factors: gross revenue and profitability.

Assessment of Management Skills

Assessing management skills is an important part of benchmarking farm performance and figuring out where improvements may be needed.

Creating a Culture of Collaboration in Family Businesses

We suggest that when family businesses practice a culture of collaboration, they will operate more efficiently. In this article, we describe what is meant by collaboration and encourage family businesses to create a culture of collaboration within their firm.

Retirement in the Family Business: Farm and Non-Farm Differences

Retirement planning is always challenging but can be especially complicated if you own your business, work for a family business, or are self-employed. Copreneurs (those who own a business with their spouse) have especially complicated situations since the financial wellbeing of both individuals is linked to the business.

Views on Fairness in Family Businesses and Financial Performance

Fairness should be important in any business, but does a family’s definition of fairness affect income, profit, and tension in the business?