5 Secrets To Get Funding For Your Agribusiness

1. Start small: create a small garden in your backyard. Then learn more about how to take care of the crops that you have chosen to plant. Understand why you chose those crops in terms of economic viability, climate, water and soil data. Get to know where you will source out your inputs and also the logistics related to moving your crops from your farm to the market. Basically, start small and learn, so that when you get that funding for your agribusiness, you are prepared for it and you have the track record that is required when applying for financing.

2. Record farming data: keep financial records, yield data, input data of your farm.

3. Be realistic: no funding institution will give you funds to expand or start your farming business if you have no track record and you are not trying to start a business on your own (this is for start-ups).

4. Record marketing and customer data: even if you sell to an auction or to the community or informal traders, write down how many customers bought from you. Basically funding institutions need to know that your business is or can be sustainable.

5. Be open: any funding institution will do their due diligence before they give you funds. That is, some funding institutions will ask for your credit score, some will require your financial statements, some will come for farm visits, others will require agronomics data from your farm, some will require water licenses, some will require you to form a cooperative with others, etc. Basically, be open and be willing to listen and do what is required of you.

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