Ebonyi state is known for a lot of things, with a great concentration of business opportunities. With a wide option of businesses and entrepreneurial pathways to choose from, Agriculture stands out as one of the most profitable businesses to start up in Ebonyi state.
Starting up an agriculture business in Ebonyi state goes beyond cultivating crops or rearing animals. It incorporates developing an agricultural idea that produces agricultural products in bulk. Agricultural Business in Ebonyi state must be targeted at producing and selling your agricultural products on a large scale.
Agriculture is one of the oldest businesses in Nigeria; this does not neglect the fact that the returns in agriculture are usually overwhelming.
Agriculture as a broad sector covers different business forms that include; farming, livestock rearing, mining, and processing of raw materials.
Proper optimization of these agricultural forms provides a profitable business opportunity for agricultural investors.
However, most intending investors are still stuck with trying to understand how the agricultural sector works and how to start an agricultural business in Ebonyi state.
This article is directed at helping people get started on how to start an agricultural business in Ebonyi state.
Which agricultural business is most profitable in Ebonyi state?
There are multiple agricultural options for the Nigerian economy. Understanding which one works well in Ebonyi state gives you a lead on what agricultural business to invest in and how to invest in them. Your ability to maximize profits in the agricultural sector lies in having the ability to see beyond the basic farming business and looking far into the agro-processing business in Nigeria.
Here are the top 6 profitable agricultural businesses in Ebonyi state
· Rice Production
Rice production in Ebonyi state remains one of the most profitable businesses in the state. Ebonyi state ranks as one of the top rice-producing states in Nigeria producing over 1.5 million metric tonnes of rice each day.
There are lots of fertile lands available for cultivation. The government of Ebonyi state has set up favorable policies and structures to support rice production in the state. This includes the provision of loans, availability of tools for mechanized farming, and access to grants.
· Poultry Farming
The need for protein and supplements will always make the rearing of birds a lucrative business in Nigeria and Ebonyi state.
Poultry farming cuts across rearing agricultural birds for commercial use. This includes selling their eggs and their stocks for meat and human consumption. There are many lands in Ebonyi state. This will give you many spaces to set up your poultry farm in Ebonyi state and begin or start your business.
· Food Processing
Food processing in a broad sector in Ebonyi state. The Agro-processing business in Nigeria expands to the transformation of raw agricultural produce to finished and consumable products. In Ebonyi state, there are different ways you can harness the potential of food processing.
You can include rice processing which includes destoning and processing of rice production to a refined marketable commodity. You can include processing of cocoa for beverage companies or you could look out for any agricultural products that will be beneficial for the mainstream market.
Starting up a farming business begins with creating a farm business plan. Farm business plans which work in Ebonyi state must accommodate the civil policies of Ebonyi state and cover developmental trends.
Your farming business in Ebonyi state must include a systematic approach to access loans, grants, and tools for mechanized farming. Your farming business idea in Ebonyi state should enlarge across the borders of subsistence farming but mass production.
· Fish Ponds
Ebonyi state is richly supplied with enough water sources. Although these depend on your location in the Ebonyi state. However, you don’t need to live by a seashore to own a fish pond/farm. Artificial ponds and farms are the new trends for fish farming. You could harness this strategy for your business.
· Snail Farming
Snail farming in Nigeria remains one of the most lucrative businesses that require little capital. Its low capital investment and high profit margin make it a worthy business to consider.
How to start an agricultural business in Ebonyi state
You can start an agricultural business in Ebonyi state with these six tips;
· Survey and Research
You should not start any business in Ebonyi state without proper analysis and market research. Understand the economic policies of the Ebonyi government and the market demand of your proposed business.
· Have a business plan
The importance of a business plan cannot be underestimated. No matter the type of agricultural business that you wish to start in Ebonyi state, you must have a detailed plan of what you want to achieve, your business ethics, and your mode of operation.
· Choose a location
You can begin this by securing some lands in Ebonyi state. Considering the rate of economic development in Ebonyi state, some areas have affordable lands for sale. You could also decide to start with a lease or a rent.
· Register your business
Get your agricultural business certified by the government. This also serves as leverage for opportunities.
· Network and connect
You will need to get associated with other investors and agricultural businessmen in Ebonyi state. This helps you build a network for collaborations, networking, expansion, and referrals.
· Get some extra hands
If you decide to build your agricultural business to a huge height, you will need to hire farm labor to help you with certain tasks.
Setting up a successful agricultural business in Ebonyi state begins with a massive accumulation of agricultural business ideas that will work in Ebonyi state. You must be able to take into consideration all business factors. Do not be in a rush to become a business owner. A thoroughly planned business is better than a swift move.
Understand that your move to join the agribusiness in Ebonyi state should center on providing solutions to the citizens of the state and beyond. This includes providing employment, opportunities, and food. Farming business in Ebonyi state will always be seen as a good business move if done properly.