Expert gives business advice to small farmers | Economic news

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“We cannot run our business with tunnel vision,” he said.

Counting costs is an initial task, he said, because once you’ve borrowed the money, it’s too late to decide “it’s not right for you”.

“It’s your attitude at the start of the task that determines success or failure,” he said, then used a couple from North Carolina who wanted to grow self-pick blackberries as an example. “They lived in a tent on this farm. “

Hard work and solid record keeping have contributed to their success, he said, and since the biggest obstacle for most beginning farmers is financing the land, the couple brought in their family and friends. friends and formed a company with 17 owners. They did their own job, stuck to a budget and worked hard and now own the land free and clear.

“So I want you to see that it is possible,” he said.

It’s fine to cultivate as a hobby, he said, but it really should be treated as a business with defined profit goals, priority purchases, and preparation for long hours and long commutes. He joked that as a “wild Pentecostal preacher” he had seen it all, which included a backslid approach to farming in which people “produce and wonder if it’s good enough”. He warned against returning to production.

Considerations Before Farming should see a self-examination of why one wants to farm and whether it is a hobby or a business, as different IRS rules apply. It is essential to set achievable goals, he said.


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