Transitioning the farm or ranch to the next generation requires creating a shared vision for the future. But taking time to ponder the history of the operation can also be helpful.
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Keep Farmers Farming Program, part of the South Dakota Ag Foundation, receives support from First National Bank in Philip.
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Bringing the next generation back to the farm or ranch may require building the business to support another family. Building the business may come in the form of using the current generation's equity to purchase more land or livestock. But another means of building the business is to diversify, according to Shannon Kubik with Keep Farmers Farming.
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