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Farm Family Risk Management in a Volatile Post-COVID World

Feb 05, 2021

Video: Farm Family Risk Management in a Volatile Post-COVID World

Farm Management Canada

Farm Family Risk Management in a Volatile Post-COVID World

Rob Napier, Farmer and Family Business Manager (Australia)

The past decade of increasing volatility has created new risks, but also new opportunities in farm business management.

Traditionally farmers have focused on risk management in production, finance and marketing. Climate change, debt levels and global trade disruption have increased the importance of risk management in these areas.

There are some highly risky events that often do not receive sufficient attention. These are the difficult to predict ‘Black Swan’ events with low probability of occurring but big consequences if they do. COVID-19 is one example of the uncertainty we face and has provided a litmus test for many farm business managers.

How can we better prepare to manage these events if and when they occur? And how can we learn to reduce uncertainty and position to create opportunities?

In this presentation Rob will share how his family is preparing for the challenges of the Post-COVID era and discuss what steps farm families can take to successfully sail through the unchartered waters ahead.