GMC

ADVERTORIAL

OLD MUTUAL

FAMILY BUSINESS

  • At its 72nd Session, the United Nations General Assembly officially adopted a resolution declaring 2019 – 2028 as a “Decade of Family Farming”. The resolution is aimed at providing a framework for the promotion of better public policies on family farming.

  • USA/ Statistically, the family farm makes up ninety-eight percent of all American farms, while farmers in general comprise 2% of the work force in the United States. 40% of the crop market is accounted for by 2.5% of nation's total farms, while family farmers produce approximately twenty-seven percent of the American crop production. 

  • A family-business should be discussed formally with a financial adviser and not casually around the braai. It remains a professional business and needs to be managed as such, especially when it involves succession planning and the continuation of the business.

ADVERTORIAL

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