Agricultural entrepreneurship refers to the production and marketing of agricultural products. Like any other business, the aim is to get profits. You may decide to work alone or collaborate with a team.
EMERGENCE OF AGRICULTURAL ENTREPRENEURSHIP
Back in the day, human beings decided domesticate animals and plants, and farm. This helped them stay stationary instead of roaming around looking for food. There was no money during that period. The farmers traded the extra food products for other goods. This was the time agricultural entrepreneurship became evident.
Years went by and industrial evolution started. Cities sprang up. Farmers realized the need to trade their products between cities. They started large scale farming. They had the means to transport their agricultural products. They would trade rice from China across Asia. They also traded coffee, lemons and oranges from Arabia to Europe. Agricultural entrepreneurship has expanded ever since.
STRATEGIES TO KEEP UP WITH AGRICULTURAL BUSINESS DEMANDS
- Adapt to changing pace
In the current market, the consumer expectations and demands are high. Agricultural entrepreneurs should be ready to meet these ever changing expectations.
- Embrace technology
Entrepreneurs should use technology to keep improve communication with their customers.
- Training and development
Equipping employees with the necessary skills and expertise will improve the agricultural productivity.
- Introducing flexibility in the workforce
This is where employees are given freedom to switch their duties and responsibilities among each other. This improves performance and the pace of production in the long run.
- Have scalable resources
It is important to have resources that are designed to support the business during the demand period.
ROLES OF AGRICULTURAL ENTREPRENEURSHIP
- Creation of job opportunities
Agricultural entrepreneurs create jobs for the employees working in the farms. The transportation sector and the veterinary team among others.
- Growth of economy
Sales made in a region helps bring in more money in that region. This leads to growth of the general economy in that region.
- Food security
Agricultural entrepreneurship contributes to introduction of new food crops in the sector. This means that there is enough food in that region which secures food security.
- It leads invention and innovation
It leads to coming up with new agricultural ideas. These ideas help develop and sustain the agricultural sector.
CHALLENGES FACING AGRICULTURAL ENTREPRENUERSHIP
As much as agricultural entrepreneurship has many benefits, it also has challenges.
- Lack of skilled employees
Most of the employees required in agricultural farms are not skilled. Most entrepreneurs have to train them before they give them duties. This is time consuming.
- Financial problems
Young entrepreneurs sometimes lack financial aid from the relevant sponsors. Some local banks are reluctant to get involved in these new business ventures. It is almost impossible to start up a business without sufficient financial aid.
- Identifying markets
Today, most markets seek suppliers with federally inspected products. This is a challenge for young entrepreneurs. They may end up lacking a market to supply their products.
- Insufficient management assistance for starting and operating the business
Agricultural entrepreneurs require technical assistance for product development. This becomes a challenge when a farmerâ€™s product requires more advanced knowledge than that which is available for them
Agricultural entrepreneurship plays a very important role. I would encourage people to embrace this line of entrepreneurship, understand their market well and work on the challenges involved.