Agriculture

Business Structure

Many factors may influence the structure you choose for your farm business. Knowledge and advice can help you choose the one that best suits your operation. Explore these topics and resources to make sound decisions.

Sole Proprietorship in Manitoba (PDF 337 KB)
This is the least expensive business structure to establish and operate because it involves only one person. The proprietor is responsible for making all of the business decisions.
 
Farm Partnerships in Manitoba (PDF 495 KB)
Partnerships are formed when two or more people decide to operate a business together.
 
Farm Corporations in Manitoba (PDF 494 KB)
A farm corporation is a separate legal entity that has the ability to own assets, incur debts and file income tax returns. An ownership stake in a company is represented through shares.
 
Family Trusts in Manitoba (PDF 310 KB)
A trust is a legal entity through which a person, called the "settlor" gives assets to persons called the "trustees" to hold and administer those assets for the benefit of others, known as the "beneficiaries".
 
Farm Business Arrangements in Manitoba (PDF 346 KB)
Understanding how a business arrangement (Joint Venture, Co-operative, Employment Agreement) is created, how it functions and the advantages and disadvantages of using that structure for your farm operation.

 

Successfully managing and planning your business success starts with you. Contact your local Manitoba Agriculture Office for the support, advice and resources you need to make sound decisions for the continued success of your farm business.  If you have questions, email us and a farm management specialist will contact you.


Resources


A Guide to Farmland Ownership (PDF 655 KB)
Explains the factors you should consider when inheriting, buying, renting or leasing farmland. The guide discusses forms of ownership, rights and responsibilities and the legal terms used during the buying, selling and renting processes.

A Guide to Farm Estate Planning (PDF 1.09 MB)
Prepares families for the successful sale or transfer of the farm business, either within or outside the family. The guide explains the considerations of transferring property during your lifetime, transferring property at death and the basics of trusts, insurance and family law.