Livelihood comprises the capabilities, assets and activities required for a means of living. A sustainable livelihood is that which can cope with and recover from stress and shocks, maintain or enhance capabilities and assets, and provide opportunities for the next generation. It further contributes net benefits to other livelihoods at the local and global levels both for the short and long terms These inform the planning of our development activities through assessing the alternatives and additions that contribute to sustaining livelihoods. We work within frameworks that help in understanding the complexities of poverty, and set principles to guide interventions for overcoming it (poverty).
This is a process of developing goals, strategies and actions that form a road map for building and or growing a livelihood. The first part of farm and rural business planning looks at creating profitability and fiscal feasibility in farm or rural business to improve livelihoods. The second part looks at farm or rural business risks and its management. Like any great business plan, this will not prevent downside risks from happening, but will improve the odds of successful and satisfying outcomes. Guided development of well-written farm and rural business plans, are key to achieving desired livelihood outcomes.
This is the process of creating and implementing an overall strategy to manage and move the farm or family business from one generation to the next. It is challenging for many farms to continue as productive agricultural businesses beyond the life of the current owners. This creates the need for a gradual and carefully planned shift to new owners or managers; whether family heirs or non-related persons. Farm families must make important livelihood decisions that give a step-by-step guide to transfer heritage from one generation to the other through strategic but consistent planning.
This is a process of transferring knowledge, skills, labor, management, control and ownership between generations. Successful farm or business successions depend in part on the financial and business viability of the livelihood, but also among other things, on anticipating and preparing for adverse events that could disrupt management and ownership such as dearth, child labor etc. Open family communication and sharing of expectations and goals is crucial to a successful livelihood transition.
This is a process of designing and implementing an enjoyable and productive time and rural life. Owners and family members plan and agree what role each person plays in the farm or family business during retirement and make decisions on the type of lifestyles, educational needs, health care needs that generate the desired outcomes. Owners and families must plan to transfer their family business to heirs who may or may not already be involved in the management or running of the business and other assets during the retirement period.
This is a process of managing an individual’s asset base in one’s lifetime, at death or after death. Farm and rural estate planning includes the legacy of transferring land and other assets including transferable opportunities to heirs, while attempting to eliminate uncertainties over the value and administration of the assets. The sooner families begun the processes of planning their Farm and rural estates, the more satisfying their livelihood outcomes.