AGRICULTURAL NEWS - A good business plan is a must for a new farmer: it provides a clear strategy and objectives, and helps everyone involved in the operation to stay productive and focused.
In compiling a business plan, you may make mistakes. Never mind!
These can be corrected easily on paper before the plan is implemented, saving you money.
Having a business plan also shows banks and other investors that you take your farming operation seriously.
A good business plan involves research on the external and internal business environment, including competitors, suppliers and consumers.
This can be translated into a detailed action plan showing your competitive advantages and how to address problems.
Identify milestones with time-frames to help you achieve your objectives within the stipulated schedules.
