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- Organizational Frameworks for Businesses in Today’s Agriculture
- Highlighted Publication: Risk Concepts
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HISTORICALLY, farms and ranches were operated as sole proprietorships. The land, machinery, livestock, and other assets were owned and used by an individual or couple. Likewise, the individual farmer/rancher was personally responsible for all debts and financial obligations owed by the business. The farmer or rancher was the business, and the business was the farmer or rancher. In today’s world, there are a number of organizational structures that may better meet the needs of farm/ranch businesses. Each organizational structure has its strengths and weaknesses . . .
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