Nuban Institute

Country Farm and Business Management

Business administration and country farming encompasses all aspects of running a successful agriculture enterprise. It involves identifying consumer demands that the farm is uniquely positioned to meet, and determining the best way to combine basic resources (land labour, capital and land) to maximize profits. It also involves making choices that balance economic, environmental, and social factors and addressing issues related to Agritourism and regulations.

To become an expert in agribusiness first, you need to come up with an innovative idea. You should also create and practice an “elevator speech”. The next step is to develop a business plan that outlines how to turn the big idea a reality. Then, determine and analyze agribusiness risks that may affect the plan. Lastly, find the best financing solution that suits the needs of your business.

Good farm managers continually review new technologies and analyze the efficacy of current practices. They also plan for the future. They should be able gather and interpret information quickly. This could include inputs from other farmers, extension staff and private agribusiness firms as well as research workers and their friends. They should also have the ability to think creatively, and conduct mini-experiments.

Budgets are a crucial tool in analyzing a farming business, however, the high degree of variability could affect their reliability. Therefore, budgets should be complemented by probability distributions of weather events and prices. This will enable the manager to assess the risk and analyze the impact of the different options.

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