Hello steemians thank you for visiting my blog this beautiful day, I have not been posting on my blog because of assignments and registration at school. Today, I will like to share what I learnt over time that made me interested in agribusiness.
Agriculture etymologically refers to field cultivation. It means growing of crops and rearing of animals for the benefit of man. The term business refers to the activity of providing goods and services involving financial and commercial and industrial aspects. Agribusiness was coined from the two aforementioned terms.
Agribusiness is a large-scale farming enterprise; it refers to growing crops and/or rearing animals for the purpose of selling the products and making profit.
In 1957, Goldberg and Davis coined the term agribusiness. Agribusiness includes agrichemicals, breeding, crop production, distribution, farm machinery, processing, and seed supply, as well as marketing and retailing. All agents of the food and fiber value chain and those institutions that play one or more role in it are part of the agribusiness system. Within the agriculture industry, "agribusiness" is used simply as a blend of the term of agriculture and business, referring to the range of activities, processes and disciplines encompassed by modern food production. Source
Many of us these days lament that there is no job or we don’t know any venture or business to do or invest our earnings in, all we yearn and seek for is business that is economically okay, profitable and environmental friendly but in the long run don’t know the business to invest in.
In this piece, I will share you some cogent reasons why you should consider investing in agribusiness.
There are different areas one can venture into and tap massively from the wealth found in agriculture/agribusiness space.
Agribusiness is a GLOBAL sector Agricultural commodities are highly important, if they aren't demanded in a particular country, the products can be exported to other countries.
It is important to note that the opportunities in agricultural/agribusiness sector are enormous and infinite. The following are some reasons why you should join this venture.
1. Agribusiness will NEVER get out dated: Agribusiness is not like selling of cars or smartphones that one will one day, one will have commodities or produce that are obsolete, instead the products will continue be demanded daily. Another supporting fact is that the population of the world keeps increasing geometrically thereby increasing the demand for agricultural products.
2. It has several branches each having great RETURNS: another interesting part is that agribusiness is so broad that there are many branches, if you can’t engage in poultry farming, you can start crop farming as well as fish farming depending on the resources you have at hand. The wastes from any of such sector are highly useful, for example poultry birds can be kept for meat and egg purposes. The waste from the poultry birds that is poultry droppings are of vital importance, it is used as manure on farmlands which serves as source of income to some people. The feathers from the birds are often used for making pillow and bedding material. That is not the limit, depending on how the owner of the business add value to his products.
Goats for example when reared under extensive or intensive system of farming produce meat (chevon) and to a lesser extent for milk are the products from such entreprise. Goats also provide skins of commercial importance such as morocco leather from sokoto red goats and manure for gardens and crop fields. In other parts of the world goats are kept for their wool which is used for clothing.
3. Abundance of natural resources, labour and arable lands. One of the strength we have are the inputs or factors of production needed to start this business, there is large expanse of land and labour supply to make the sector successful, which will also help in making the youths busy and grant employment opportunities to the teaming population.
4. No waste: there is hardly any waste in farming and rearing of farm animals, this is because the waste can be reused and recycled. Consider the above example the wastes or dung from an animal are source of manure in various farmlands, this therefore shows that the waste is also an input that is highly demanded by farmers and as such will also be a good source of revenue.
5. Their outputs and products are indispensable and inevitable: Almost every industry in the world uses at least one raw material from agricultural produce therefore agribusiness is a very good business to invest in an enterprise like this.
Clothing materials are processed from fibre. Drugs and medicine come from it. some crops serve therapeutic and curative purpose. Example of medicinal crops are garlic, black seeds e.t.c. Dead leaves, straw, bran are also fed on by livestock and other residues from plant and animal tissues are used to add organic matter and used as mulch.
6. Everything living survives on it: man and animals require food to survive, therefore agribusiness determines sucrvival of the inhabitants of any particular place. Since agribusiness play a prominent role in food security, it therefore shows that without it , hardly will anyone survive.
One fact is food security is the basis for survival
7. It is highly profitable: the aim or goal every businessman or woman who engages in any particular business has is profit. With all that has been said and without any iota of doubt, Agribusiness is highly profitable if one has the necessary skills, knowledge and expertise required for being successful in such business. Consider poultry farming for example, one must have the necessary knowledge to be successful in such venture. Once you get the necessary resources, you can stand on your own and make the most out of it, one can make profits in different phase of the production, one can either sell eggs or sell poultry droppings.
It is important to note that the opportunities in agricultural/agribusiness sector are enormous and infinite and are not limited to this, this is just the tip of an iceberg.
As more research are conducted by scientists day by day to discover the potentials of the sector, I urge everyone reading this piece to try to look for a sector to invest in, in this profitable, long living, indispensable and unavoidable venture of Agribusiness, this is because it will play a major role in ensuring sustainability of the sector.
Since an entrepreneur is a person who identifies (in a continous manner) the opportunities in the market for products and/or services and then develops new products and services to satisfy the identified needs. As an entrepreneur one needs to visualize a successful agribusiness and then commit resources to achieving the set goals. It is high time you become an agropreneur.
Invest today, Remember agribusiness has big money in it.