It’s hard to think about long-term plans when the short-term feels uncertain. Across South Australia, many farming families are still battling dry conditions, tightening cashflow, and wondering whether this year’s break will ever arrive. And yet, succession planning—handing over the reins to the next generation—can’t wait for perfect conditions.
If you’re putting it off, you’re not alone. It’s common to delay big decisions until “things settle down,” but for most farms, there’s never a perfectly quiet time. The longer you delay these conversations, the fewer options you may have. Even during challenging seasons, it’s possible—and wise—to begin.
Here’s how you can take a realistic and phased approach to succession, even in a dry year.
1. Why Succession Can’t Wait
Farming families often tell us, “We’ll deal with succession once the season turns.” But seasons don’t always turn on cue—and in the meantime, critical decisions go unmade.
When there’s no plan in place:
- Generational expectations build quietly in the background
- Financial uncertainty compounds the emotional stress
- Legal risks or tax inefficiencies can creep in unnoticed
It’s important to remember that succession doesn’t happen overnight. It’s not a single event—it’s a series of conversations, agreements, and often years of gradual transition. And the earlier you start, the better positioned your family will be to make calm, well-informed decisions that reflect everyone’s best interests.
Even if you’re not ready to make structural changes, starting the conversation is a powerful first step. And when things are tough, that clarity becomes even more important—not less.
2. Low-Cost and Phased Approaches That Work
We understand that dry years bring tight budgets. But succession planning doesn’t always mean large legal or financial costs upfront. The process can begin with low-pressure, low-cost steps such as:
- Identifying your long-term goals and concerns
- Holding a family meeting to gauge interest, roles, and expectations
- Engaging an adviser to help guide the timing and priorities of transition
At FSSA, we’ve worked with clients who start with nothing more than a family conversation and a notepad. Over time, that turns into a structured plan with the right professionals involved, often staged across several years to match business cashflow.
It’s not about “handing over the keys” immediately—it’s about starting small, building momentum, and giving everyone a voice in the journey ahead.
3. Protecting the Future While Managing the Present
In hard seasons, most of your attention is on today—keeping stock fed, managing creditors, and planning your next move if the rain doesn’t come. But here’s the truth: having a succession plan actually reduces short-term stress.
Knowing your goals, understanding your exit options, and setting clear expectations gives you a strategic lens through which to make today’s decisions. Whether it’s refinancing, investing in infrastructure, or managing your tax planning, a clear succession strategy provides structure—not just for the future, but for now.
And for the next generation?
They’re more likely to stay engaged and invested when they see a plan that includes them, not just vague promises or unanswered questions.
What’s at Stake If You Delay
- Family tension: Unspoken expectations often lead to long-term relationship damage.
- Missed support opportunities: Without a plan, you may miss out on grants, RIC loans, or tax concessions tied to succession.
- Unstructured handover: When things are left too late, transitions happen in crisis—not on your terms.
We’re Here to Help
If you’re ready to start the conversation, even if you’re unsure how to begin. we’re here to support you. We’ve worked with dozens of farming families through dry times, good seasons, and everything in between. No matter your financial position or family dynamic, there’s a way forward.
If you need help mapping out your priorities and ensuring your business can run smoothly in any situation, give Dibbo a call today. Let’s put a plan in place so you’re prepared for whatever comes your way.
📞 08 8253 2906
✉️ info@financialservicessa.com.au
