Two farmers talking at the farm fence© Blend Images/Rex Shutterstock
The vast majority of farms operate as traditional partnerships. Investing time at the outset to ensure the structure is right for the partners and for the family’s succession and business plan is well worth the time and effort, as this can give certainty and direction. Typically, partnerships are easy to set up compared with other business structures and have little in the way of formalities to adhere to. Their potential advantages are numerous. See also: Forming a farming partnership: legal […]