Congratulations for choosing agribusiness in Kenya. It is not easy and many have sacrificed a lot to be in it. Quitting well-paying jobs, investing a lot of money, going back to school to learn agriculture among many other things.
paying jobs, investing a lot of money, going back to school to learn agriculture among many other things.
employment. If described by a layman it is a great business. Do not be fooled by heresy on farming and promotional messages by those who want to sell you a farming product. Farming like any other business requires diligence, sacrifice and hard work.
As a business or more lately agribusiness, it requires you the farmer /farm manager to have business skills aside from farming knowledge. As an enterprise to make profit and produce value to your customers it should be treated no less than any other business.
Before you start your career in agribusiness it is wise to begin by meeting the legal requirements any business meets. These are;
As you register your legal business entity which could be a business name or limited company you should also be working on the following
A business plan which covers the following sections
With a business plan you are able to clearly plan your operations before you start your business. It is also a tool of importance when seeking for funding from financial institutions as it enables them to easily gauge your business.
Now that you have a business and a business plan, an action plan is important as you begin running your business. If you can afford to hire an n accountant to maintain records for your farm then do it. If you cannot afford to do so especially if you are just getting into farming learn the basics you need to know and prepare your books. The basics you usually have to address are
As you continue or start your own agribusiness think of it like a business and never forget that great businesses are not made in a day. It is your effort to produce quality goods and services of value to people that will set you apart.
Next we will talk about funding your agribusiness. We’ll provide templates for the needed documents and useful links.