Agribusiness is the business of agricultural production which includes agrichemicals, breeding, crop production (farming and contact farming), distribution, farm machinery, processing, and seed supply, as well as marketing and sales. All agents of the food and fibre value chain and those institutions that influence it are part of the agribusiness system. The agribusiness has become a lucrative source of income and wealth creation around the world. Depending on the aspect of agribusiness one may decide to do, here are 10 quick tips to help you get your agribusiness started:
- Learn the basics of agriculture and farming
- Identify your niche
- Decide on the type of business structure
- Set up finances/funding for the business
- Find the right land (for a farming business)
- Do the applicable registration and application for a license to operate
- Acquire the right farming equipment (for a farming business)
- Market and sell your products
- Hire qualified personnel to help grow the business
- Take advantage of digital technology and tools to promote the business
Olatorera Consultancy Limited provides business development services to high net-worth individuals and companies looking to grow, enter or do business in Africa.