Episode 2: Succession planning with Byfields

Jack Hayes is a Manager within the Agribusiness division in one of Western Australia's largest accounting firms Byfields Business Advisors. Jack has over 10 years of experience working within the accounting and taxation industry and having grown up on the family farm in Badgingarra, Jack has an established, long-standing passion for the agriculture industry, with a particular interest in the latest farming practices and technology.

In this episode, we’ll be talking about one of the complex topics to tackle within the farm business - succession particular from a younger generation’s point of view, which is often missed in the discussion. According to Jack, succession planning has become much more personal and relationship-based than the traditional understanding of the transfer of assets. With many futures on the line, Jack outlined the importance of opening up the line of communication to start the planning process as early as possible for a successful transition.