What young P.E.I. farmers are saying about the future of farming
Young Atlantic Canadian farmers are talking about the survival of family farms and how to plan for the future knowing that the next generation might not want to take over.
Dozens of farmers attended the Young Farmer Summit Saturday in Charlottetown. It's the first time the summit has been hosted on P.E.I.
Even though the farmers present were all under 40, one of the topics was what comes next.
Tom Deans, a speaker at the event, specializes in family businesses and succession planning.
He said about half of the adult population of P.E.I. doesn't have wills, something especially important for farmers because of land, animal and equipment ownership.
"It is a challenging issue," said Deans. "So many farmers have always left it a little bit late. It's because it's such an emotional subject.
"We always think that the answer is going to present itself and it usually doesn't."
Not 'financially feasible' for everyone
Ian Drake, a cattle and potato farmer, is already having that conversation with his family, even though both his children are under five.
He took over the farm from his parents and said he'd like to pass it on to his children if they're willing.
"It's hard to say right now. It's been in the family, so try and keep it in the family if we can," Drake said.
"We'll deal with it when it comes."
Matt Hughes, who is 31, grew up on his father's dairy farm, but eventually made the switch to becoming a sheep rancher.
"To start out as a young farmer, it just wasn't a financially feasible thing for me to get through at the moment," Hughes said. "It was easier for me to get into lamb and horticultural crops.
"[My sister is] more interested in that area of the business so hopefully there'll be someone else, another sibling to maybe take over that side of the business."
Farming more of a 'risk' now than ever
Alexandra Macdonald, 22, moved from Toronto to P.E.I. and has been working on a dairy farm. But she says while she enjoys the work for now, she has no plans to become a professional farmer because of family.
"For me, as long as I have time to be with my daughter, it's good for me but sometimes, dairy farming especially, is very time-consuming. Some people milk their cattle three times a day.
"So that's a lot and it's a lot of back and forth and I don't mind it but I just prefer to have my good time to myself."
Deans said any farmers wanting to keep their business in the family, or to have it continue after they're gone, should start having these conversations sooner than later.
He said there's more being asked of farmers than ever before and that the job comes with much financial risk.
"The earlier we start to explore whether or not the next generation truly loves the risk ... the earlier they can start, the more likely they'll be successful with a transition inside the family," Deans said.
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