man watering his plants

Money Wise: Why Starting an Agricultural Business Is the Soundest Investment

If you wish to start an agricultural business, you must understand that there are things that you need to prepare for. You may already be doing research and asking other business owners where to begin, but you could also be landless yet. However, you continue planning for the moment when you will have everything you need and finally start to make your move. From owning a property you can cultivate to having a water irrigation system, getting the right laborers, having heavy haulage trucks for transport, and of course, arranging your finances, you can kickstart your agricultural business. It is okay to start with nothing but interest and determination.

The Philippines is supposed to be an agricultural gem of Asia. If you are interested in starting a small agribusiness, that means you know the value of agriculture products to the market. Hence, if you are an urban guy or a city girl looking into the agricultural business, this article is for you.

Know about farming.

As always, you need to study what you want to take, which is the step you must begin with. If you’re new to farming, learn every little thing you can within the time you have. However, make sure that you make sound decisions, too. While it is ideal that you take a course related to farming, not everyone has the time and resources to go back to school. Still, some things are better understood when you see them in action, and one of those things is farming.

You only need the will to get under the sun and learn the craft. You would undergo trial and error, and it could be messy, taxing, and in some cases costly. However, it’s a constant thing with farming, so go with the hard procedure to learn the practice.

Find an agricultural mentor, someone you could trust and learn from. Maybe there is someone from your provincial relatives who mastered farming in the area. If you do not have any, find a local farm and volunteer. Think of it as an internship where you would gain the knowledge and experience before going out in the real world.

Plan out your property.

A vital part of starting your agricultural business is specifying what it would be. Do you wish to have a fruit and veggie farm? Would you like to grow hay and rice grains? Or you could even grow coconut trees. The possibilities are infinite. However, this would also depend on where you would claim land. You cannot grow vegetables in a region with too much sun and rain; you need to be up in Baguio to do that.

You can also ask yourself if you want to start a farm nature reserve that people can explore as part of local tourism.

Have a business plan and a clear succession testament.

In this country, it is common for people to be bickering for a piece of land, so you must ensure written ownership and succession earlier. Don’t let your children and your grandchildren suffer because you forgot to do the papers.

You might wonder if you require a service plan. Yes, you do need an organizational strategy. You need to consider the supply and everything that concerns your procedures, management framework, financial evaluation, products, and cost factors.

Apply for business permits.

Following the point above, if you want your agricultural business to thrive for many years to come, you cannot allow it to shut down because you do not have the permit to operate.

Applying for business permits and transport licenses is your duty and responsibility. If you have an administrative team with you, that is better, but you have to apply and oversee the process yourself as you are the land and business owner. You wouldn’t want any other name on the business permit, right?

Furthermore, local government units and their processes may differ, and some requirements for developing a small agriculture business may not be standardized. But everything begins with registering your agribusiness name, getting a license permit, ensuring transport insurance, and taking care of your financial responsibilities as the landowner.

Final Words

The Philippines is an underrated agricultural country overshadowed by mall tourism and foreign mentality. Even with society, people think that farming is for the poor, but it is not. The agriculture sector has been neglected for so many administrations that people and business owners in rural areas abandoned the noble craft for white-collared jobs in the capital. You could stop the cycle and start planning your agribusiness today.

Scroll to Top