Nuban Institute

Country Farm and Business Management

Country farm and business administration encompasses all aspects of managing an effective agricultural enterprise. It is about identifying the needs of consumers that the farm can satisfy and determining the best method to combine basic resources, like land, labour and capital, to maximize the return. It also involves making choices that balance environmental, economic and social elements, and dealing with Agritourism and regulatory challenges.

Developing an innovative big idea and preparing and executing an “elevator pitch” are the initial steps to becoming an agricultural business leader. The next step is to create a business plan that explains how to translate the big idea into reality. Analyze and identify the agribusiness risk that could affect your plan. Lastly, find a financing solution that best suits the needs of your business.

In addition to planning for the future, effective farmers are always working to evaluate the efficacy of current practices as well as evaluating new technology. They must be able to gather and interpret information. This includes inputs from other farmers, extension staff and private agribusiness firms researchers, friends and colleagues. They should also be able to think imaginatively and conduct mini-trial and error experiments.

Budgets are a crucial tool in analyzing a farm business, but large variations in their frequency can limit their reliability. Therefore, budgets must be supplemented with probability distributions for weather events and prices. This will enable the manager to evaluate the risk and evaluate the impact of the different alternatives.

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