Facilitating first and next generation entrants into food production asset ownership :and the entity structures, business models and policy recommendations to support them.

Farmland and fishing quota are unique investments. They have achieved exceptional returns over sustained periods of time irrespective of seasonality, commodity price and fluctuations in global markets for the goods they produce. In some key agricultural production areas, farmland prices have increased up to 800% since 2000, with the average for the same time period being around 256% according to the Australian Broadcasting Corporation.

This very welcome news for land and quota owners poses a question about how to facilitate the transition of ownership to the next generation - and to those who are completely new to primary production - first generation food producers.

This report is for aspiring and retiring primary producers. It is also for policy makers that are interested in ways to soften the landing of what could be an uncomfortable and unprecedented period of enormous wealth transition in the Australian agriculture sector - a changing of the guard. The report considers why there needs to be a new guard at all, who they should be and how we can dress them up for the occasion.

The report focuses on ways to harness budding first and next generation food producers by providing case studies of inspiring individuals who have made a start around the world as well as genuine options for entity structures and business models that might make the difference between success or failure in their first few years of business ownership.

Collaborative models of asset ownership feature prominently - land trusts, multi-generational family farming models and partnerships of old and new.  The report acknowledges the changing demographic of today’s farmers, fishers and primary production families.

Promising entity structures, business models and entrepreneurial mindsets from around the globe have been analysed and summarised to provide readers with a high level overview of some options that can facilitate and unlock the passing of the baton from those who made Australian agriculture into the powerhouse it has been, into the modern, diverse, resilient and sustainable organism that it needs to be to compete on the global stage in the 21st century.

Policy recommendations have been formulated which aim to address the barriers to entry for first and next generation food producers. These recommendations have taken into account real world successes and are set against the backdrop of the changing demographics of the modern food producer.