In her session, Prof Venter discussed the economic and industry market influence that was presented in an earlier session by Prof Willemse and delved into how it will influence the way that family farms in South Africa plan for succession, both from a management and ownership perspective. Prof Venter then addressed questions such as whether “traditional” succession planning is still relevant in 2021/2022, which factors should be considered when re-designing and re-imagining succession planning, and how should succession planning be approached by South African family farms, given the market conditions discussed by Prof Willemse. Prof Venter also emphasised that the next generation of the family should be taught and mentored from a young age, so as to become responsible, committed, and competent owners and/or managers of the family farm business.
