Posted by on
26/07/2024
Queensland’s Lawrie family
The failure of succession is one of the greatest threats to family farming, and Queensland’s Andrew and Meagan Lawrie are proactively putting plans in place to help support a smooth transition between generations.
Having successfully executed a succession plan with Andrew’s family, the couple is now developing a longer-term plan to work their three children into the business.
The couple will generously share their learnings and insights at The 2024 Australian Cotton Conference, during a panel session 'Aligning families, growing wealth and protecting legacies' facilitated by The Financial Bloke, Ben Law on Tuesday August 6 at 4.15 pm.
The initiative follows the success of Rabobank’s Beef 2024 panel session of the same name and format, whereby Richmond’s Lord family shared succession insights.
Andrew and Meagan, of “Moora Plains” west of Rockhampton, are looking forward to the opportunity to contribute to the wider succession conversation, which is for many, a deeply personal and vulnerable topic.
“I’ve had so many mentors who have provided ongoing help along the way, and I’m proud to be able to now give back and help others – even if just one person can learn from our experience to strengthen their own succession journey and farm business, then we’ll be happy.”
A shared vision for unity, and business strength
Having recently completed succession with his parents, brother, and sister – and now beginning the process again with their children, Andrew believes he and Meagan are in a unique position.
“We learnt a lot the first time, and there are things we can probably do better this time around, and that’s all part of the learning, and where we can perhaps make a difference to someone else's journey through sharing our insights.”
“Our eldest daughter Jess, 30, is in Brisbane, and has been clear with us that returning to the farm is a hard no, so we hope to be able to provide her with assistance early, and reduce the future load on our sons.”
With son Alex, 27, and his fiancé looking to return to the farm next year, and youngest son Sam, 24, also keen to eventually return home, Andrew and Meagan are not leaving anything to chance.
“Succession planning is equal parts exciting, daunting and challenging, but at the end of the day the sooner we can engage the youth and energy of the next generation back into the business, the sooner we can move it forward.”
One of the greatest gifts Andrew and Meagan believe they can give their children is “the space to show themselves, and chase their dreams.”
“Our sons have been able to gain incredible skills off-farm, enjoying professional careers – Alex with SwarmFarm Robotics, and Sam with Hasting Deering – and when they do return home we’ll have no hesitation entrusting them with some of the decision-making.”
“The skills they have developed off-farm will complement our business well, strengthening the current operation and contributing to our greater vision.”
A new generation of agricultural leaders
The Lawrie family has been at the forefront of Australia’s agricultural progression - as early adopters of holistic grazing methods, Andrew was one of the inaugural Grazing for Profit success stories, turning his depleted soils around through herd management.
Andrew and Meagan Lawrie
Last year, the family was one of two Queensland beef properties named as the first in Australia to be issued with Australian Carbon Credit Units (ACCUs) for the large-scale sequestering of carbon in their soils.
Yet despite the family’s innovative business nous, succession planning, is perhaps, the most critical element of maintaining a strong, and sustainable, family business.
While the Lawrie’s may not be cotton growers, Andrew believes their insights can be applied across all farming businesses.
“Regardless of the sector, every family farm faces the same succession issues. When you’re dealing with people, particularly loved ones with different personalities or priorities, a considered approach is key.”
“It’s not for us to tell people how to do it, but we have our version of what’s worked for us, and as a family unit we’re all excited for the future of our business.”