It has been recognised for some time that there are deficiencies in Irish farm structures in terms of age profile, farm size and skill set that require commercial law. Farmers working in partnerships with their spouse or chidren on the family farm, or coming together with another farmer to work the two farms in a common structure, can help to overcome some of these issues. Furthermore You may want to transfer control of your farm or estate over to another family member. A family partnership lets you share or transfer control slowly, so the new owner has time to learn the ropes.
The advantage of farm partnerships is the possibility of sharing best farming and business management practice. Collaboration and partnership among farms will combine different skill sets to improve the performance of existing enterprises on the farm and opens up the possibility of expanding into alternative ventures with the possibility of a greater income potential.
Joint farming ventures can help to address the social challenge of the ‘one man farm’ model which is common in Irelad, making farming a more attractive occupation by reducing isolation, improving work-life balance, pooling skills and talents and helping to overcome setbacks such as injury and sickness.