IF 140: Sweat Equity on The Farm w/Andrea De Groot and Joel Bokenfohr

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Episode 140: Sweat Equity on The Farm w/Andrea De Groot and Joel Bokenfohr

In today’s episode, Tracy speaks to Andrea De Groot and Joel Bokenfohr about “Sweat Equity on The Farm.”

Are you part of a family farm and unsure how to handle sweat equity on your operation?

If so, you will not want to miss this episode where Tracy, Andrea, and Joel chat about:

• What sweat equity is and why it comes into play on family farm operations.
• They discuss how sweat equity can create a larger problem over time.
• Andrea and Joel share some sweat equity guidelines when bringing new family members into the farm business.
• They chat about sweat equity and how the conversation may change depending on the stage of the business and the age of the next generation(s).
• Andrea and Joel share examples of sweat equity scenarios they have run into.

Whether you are the farm founder or generation two (three or four), Andrea and Joel provide some great insight on how to handle sweat equity on the family farm.

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* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
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SHOW RESOURCES

FCC Transition Knowledge - https://www.fcc-fac.ca/en/knowledge/transition.html

FCC Advisory Services - https://www.fcc-fac.ca/en/resources/transition-planning.html

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 Show Guests

Andrea De Groot
Farm Credit Canada - Ag Transition Specialist

Andrea De Groot lives in Stratford, ON with her husband and four kids. Her career is in agriculture finance, but she also plays a key role in their sow and crop operations. In her career with both Farm Credit Canada and RBC she has made many moves to advance herself, while also trying to establish more balance between career, family and farm needs.

Connect with Andrea De Groot - Email / LinkedIn / Twitter / Facebook / Website

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Joel Bokenfohr
Farm Credit Canada - Ag Transition Specialist

Joel has worked in agriculture in many different capacities, advising farms, food processors and policy makers on issues affecting the industry. His true passion is helping primary producers and farm families with decisions on transition planning, farm management and business structures.

Joel holds a degree in commerce and management from MacEwan University, master’s in economics from the University of British Columbia and agri-business certificates from Texas A&M and the University of Sao Paulo. Joel continues to farm in Sturgeon County, Alberta, with his family.

Connect with Joel Bokenfohr - LinkedIn / Twitter / Website

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The Impact Farming Show

Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation. 

Show Host - Tracy Brunet
CEO of Farm Marketer 

Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming. 

In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas. 

Connect with Tracy Brunet - Twitter / Facebook / Instagram / Linked in

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