A significant number of farming assets will be passed on to the next generation as the baby boomer population looks to retire in the next decade, representing a great opportunity for farming families to expand and diversify their businesses.
That’s the view of 2016 Nuffield Scholar, James Dempster, who was supported by the Grains Research & Development Corporation (GRDC) to research the successful expansion of family farms around the world and to determine whether those expansion plans could be leveraged by off-farm investors.
Together with his family, Mr Dempster operates a mixed cropping and sheep enterprise at Mingenew, in the northern wheat belt in Western Australia.
The business has undergone significant change over the past 10 years, shifting its focus from livestock to cropping, to deliver increased profitability.
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