Tools for Extension Educators & specialists
One of PIFB's goals is to support Extension educators/specialists and Extension programming in Indiana and beyond. We have compiled tools for Extension to use below.
The Farm’s Legacy: A Guidebook for Intra-Family Succession is a publication authored by the Purdue Succession Planning Team. This guidebook is a culmination of years of firsthand knowledge and expertise with farm families and the intricate inter-workings of the succession planning process. Within this guidebook, you will find articles and exercises to guide you and your family farm through the succession process. At the core of succession is communication. Of course, other components are critical to succession as well. This guidebook covers the topics of: 1) Setting Goals for the Business, 2) Communication, 3) Financial Feasibility, 4) Protecting the Business & Mitigating Risk, 5) Management Transfer, and 6) Estate Planning & Ownership (Asset) Transfer. Our workbook is meant to educate, as well as spark conversations that may otherwise be difficult to start.
Keywords: succession planning, farm succession, ownership transfer, management transfer
Renee Wiatt & Maria I. Marshall
Keywords: assessment, functionality, relationship, family business, satisfaction
In a family business, the family and the business are constantly competing for limited amounts of time, attention, and resources. The FB-BRAG allows users to measure family business functioning from a variety of viewpoints, in a way that holistically incorporates family and business functionality into one assessment. The four questions included in the assessment are modeled after Smilkstein’s (1978) family APGAR and work APGAR assessments. APGAR assessments measure adaptability, partnership, growth, affection, and resolve (Smilkstein, 1978), while the FB-BRAG measures family business balance, resolve, adaptability, and growth.
The Purdue Extension Succession Planning Team provides resources and information for families planning the transfer of the farm to the next generation. The team cultivates strong Indiana farm families through events such as Regional Workshops, Introduction to Succession Planning Presentations, and Farm Family Visits. Visit their page to learn more!
Keywords: code red plan, business and farm operation
This resource helps you learn how to prevent a code red situation (i.e. if a business is unable to operate due to the loss of a key member) for your family, business or farm operation by having a completed Code Red plan. Topics included are passwords, bank account information, rental agreements, insurance papers and power of attorney documents and much more in one easy location. After completing the Code Red plan, family farms should turn a code red situation into a code green and the business can continue to operate on a daily basis. Code Red also can be a tool that helps families get motivated to get started on estate and/or succession planning.
COVID-19 Resources for Family Businesses
- USDA Announces Details of Direct Assistance to Farmers through the Coronavirus Food Assistance Program
Beginning May 26, the USDA, through the FSA, will be accepting applications from agricultural producers who have suffered losses.
- 2020 EIDL Open for Agricultural/Farm Businesses Only
The SBA announced today that Economic Injury Disaster Loans are open only for agricultural and farm businesses impacted by COVID-19.
- 2020 PIFB Spring Newsletter: COVID-19 Special Edition
PIFB Spring Newsletter discusses: managing social media, SBA help for businesses, success in PPP loans, and navigating the crisis.
- Recorded Webinar: Navigating the SBA Disaster Funds
Webinar featuring Dr. Maria Marshall, who discusses the SBA Funding (and funding opening up for ag businesses).
- Purdue Extension COVID-19 Response Site
Articles include: guide for local producers, consumer guide to buying from local farmers, guide to alternative delivery systems, impacts on U.S. food and agriculture, and other topics.
- PAER Special Edition: COVID-19 Impact on Agriculture
Purdue Agricultural Economics Report, covering: retail markets, SBA help, ethanol demand, soybean and wheat exports, crop net returns, and other topics.
- (Indiana) COVID-19 Affected Business and Employee Resource Guide
Indiana-specific guide on CARES Act and Families First Coronavirus Response Act.