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Wednesday, 29 April 2020

Start Agri, Horti Business

Strategies and Tips to Start Self Own Agri or Horti-enterprise (business).

Overview of need:

♠ India supports more than 17% of the population with only 2.4% land share. At the global level, it appears that we are slowly moving towards food crisis.
♠ Agricultural production is an important contributor to India's economy and providing 67% of the country's employment.
♠ About 72.2% of population in India has been residing in rural sector in which maximum population directly and indirectly depends upon Agriculture.
Exponential increase in demand by International markets.
Increasing demand to fulfiil needs of growing population of Country.
Keeping all above statistics in view there is huge scope for Agri and horti entreprenuers to start their business.

Strategies which you need to follow to perfectly find your business niche.

"An entrepreneur should be optimistic,passionate, innovative and calculated risk taker"

🍁 Market analysis:i,e analyze your business area (market).
▫ Let me explain you-
If you want to start small scale business restricted to a particular area e,g a town, village or a city. First strategy is to find your perfect niche i.e what kind of unit you have to establish like

⚜ Food procesing units
⚜ Organic farms
⚜ Nurseries
⚜ Agri-products
⚜ Farm mechanization units

Start business
Market analysis

♠Amongst these you need to select the Perfect enterprise for you.
♠ Find which product or service suits best to your area as it may vary from region to region due to various factors like climate etc.
♠ You should know the demand of market what they want and how they want it. For example you opted to establish an Organic farm then you need to fulfill desired demands of customers, you can add value to products as it will be preffered by customers e,g a customer will prefer processed vegetable or ready to serve vegetable a over raw vegetable. Hence go for the perfect product and enterprise.

▫ Second thing is if you want to start large scale business you want to cover a large area or may go for international market.
*In that case again the first priority is market demand what product market wants.
*Let me tell you that globally the floriculture demands are increasing at 8-10% annual rate.
*There is huge demand for food in global and national markets.
*Huge demand increasing for RTS  and value added products.
*Select your perfect niche and start.
*Innovations are always welcomed you can innovate,  introduce new ideas or products in the market.

🍁 SWOT analysis: Stands for
     ⚜ Strength
     ⚜ Weakness
     ⚜ Oppurtunities &
     ⚜ Threats.

SWOT analyis

SWOT analysis is very important approach to get started as it potrays the internal strengths & weakness as well as external oppurtunities & threats of your business.

▫ Strengths: characteristics of business that give it advantage over others.

Weakness: characteristics of business that place the business at a disadvantage relative to others.

Oppurtunities: elements in the environment that the business could exploit to its advantage.

Threats: elements in the environment that could cause trouble for the business.

🍁 Finance your business: its considered as blood of business, capital in terms of finance is ultimate goal of any business. Without it no business can run. 
*There are bunch of ways to finance your business to get started like:
⚜ Your own wealth
⚜ Venture capitalists
⚜ Angel investors
⚜ Govt. Schemes
⚜ Bank loans
Start business

* Venture capitalist is a private equity investor that will provide capital to your business in exchange for an equity stake.
They invest based on risk but they can earn massive return if your business will become successful.

* Angel investor is an individual who invests his/her own wealth in your business as they feel your business has a scope for growth in future.

* Govt. Schemes there are many Govt. Schemes running for individuals who want to start businesses

* Bank loans banks provide loans to start your business in return you have to pay them their fixed intrest rate.

Now its your own choice or need what you will choose from the above financial ways to get started.

🍁 Advertise your business: many businesses dont grow well as they dont reach to maximum customers the reason is lack of advertising. According to me advertising is the most important approach to make your place in market and tell them about your company, business and products. In this modern era of social connectivity its easy to promote your business via many platforms like media, newspapers, social media etc.

Grow your business

Now its all upto you, stand and start.

(Humayun Shah)

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