Sign in
Download Opera News App

Economy&Finance

 

Agriculture

 

5 main reasons why Many agribusinesses Fail

1. Lack of Knowledge

A lot of people think venturing into agribusiness do not require much training. Some crop farmers think agriculture is all about making ridges, planting seeds and then wait until harvest to start raking millions into their bank. Never presume you know it all. Learn from experts before venturing.

2. Bad Location.

Site selection is an important factor to consider before starting your agribusiness. The things to consider while making the decision for choosing an appropriate location include; proximity to water sources, proximity to markets, access roads to the farm, soil fertility and pH levels.

3. Improper Planning

Before starting any agribusiness, you must sit down and calculate the costs involved. Many agribusiness fail at startup because the owners did not plan properly before starting out. Planning is all about deciding in advance what to do, how to do it and when to do it so that maximum efficiency can be attained.

4. Poor Customer Relationship

The customer is king, anytime, any day and never forget that. You will continue to lose more customers if you do not maintain a good relationship with them.

5. Premature Scaling

At the first taste of success, most agribusiness startups tend to scale up their business operation immediately. While this is not bad at all, it is an unwise idea to be followed immediately.

Content created and supplied by: Chaknida (via Opera News )

Lack

COMMENTS

Load app to read more comments