Chapter 1: Planning
When starting an agricultural business one of your first decisions should be, what am I passionate about? This decision is critical to the success of your business.
Taking the time to develop a business plan will provide direction to your business in the future and may assist the owner when seeking funding.
Your business structure can have many impacts in the future of your business. Your business structure can provide risk management protection, as well as, a tool for passing the farm to the next generation.
When seeking financing, there are several steps you should take before approaching and funding source.
No matter the size of your farm business, you will need to abide by the laws and regulations that govern your operation.
Budgets are the first step in providing adequate financing for your operation. Without accurate records and budgets, seeking finances for your farm will be more difficult.
No matter what enterprise(s) you choose, land in an integral part of your farm business.