Every business has its peculiar challenges.
Whatever branch of Agriculture you are involved in, challenges are bound to surface.
While some are inevitable, others can be prevented through the smart choices you make.
I’ll be talking about three common challenges that are common to farmers and how you can overcome them.
Lack of adequate information.
As a farmer, you should not be content with the information you had before you started your agribusiness.
We are in the information age and every day comes with innovations and evolving trends in the agricultural sector.
Relying on what you know alone can limit your progress as a farmer and make you stuck in a rut.
How can you overcome this?
Make it a habit to learn acquire new knowledge about agriculture daily.
Leverage social media by joining various online farmers groups; learn from other farmers by observing how to run their business.
There is so much to learn if only you devote your time to it.
One of the greatest nightmares of every farmer is having farm produce that nobody wants.
Imagine planting crops on vast farmland, tending to them for months, and after harvesting, no one is willing to buy them.
That would amount to a waste of time, effort, and money.
The end goal of every farmer is to sell their produce to a ready market and make profits.
How can you prevent this challenge?
Before you go into agribusiness, conduct a market survey to ascertain if there are consumers who will purchase the farm produce you want to sell.
This will help you to analyse your choices and make the right decision before venturing into agriculture.
Lack of Capital
Whether you planning to start your agribusiness or scale an existing one, having substantial capital is paramount.
A lack of capital poses a great challenge to budding farmers or existing ones.
To combat this challenge, you can raise capital by asking your family and friends, finding an angel investor, launching a crowdfunding campaign, or applying for a loan.
To access the best Farmers’ loan and kickstart your agribusiness or expand your current one, check out loan offers at Viable X to get started.