30/10/2024
Don't take a loan to start farming. Unexpected challenges can arise and if you are using borrowed money, each setback will impact you twice as much.
There are so many hidden costs that your business plan may not summarize or be very accurate.
How about human capital ? Workers might just mess you up and you loose everything.
Have you thought of weather changes ? small drop or too much rain can turn your production upside down.
How about the sudden change in market value for your produce, remember some crops like tomatoes, watermelon, cabbage will give you high blood pressure if you fail to secure good market for them.
This is why I encourage you to start small with what you can afford.
Better to have one productive acre(probably under irrigation)than to have hundreds of unproductive acres.
Be wise...
