The potential of agriculture in Nigeria and the world is a great one, and the words going around in this part of the world is that youth should start farming. But how can someone within the age of 18 – 25 without no job or source of income raise money to start a small scale farming, how can a graduate with no job get funds to start agribusiness? Right from the time, the biggest hurdle for anyone interested in agribusiness is capital. But is that the end? Does that mean other years of waiting for government grants that can take forever or loans from the bank with huge interest that can eat up the whole business profit?
Raising money for agribusiness does not stop at grants from the government or loans from the bank. You can as well raise money for your agribusiness through other sources.
So what are those sources?
How A Young Person Can Raise Money For Agribusiness
Raising money to start an agribusiness for someone with no tangible source of income can be tiring, it does not end at that, what of those that fall into the category of underemployed, people like this find it difficult to feed their families and that makes it hard for them to save to start agribusiness as a side hustle talkless of practicing it in a subsistence way. Also for a student or teenager that is still in school saving stipends giving can be hard.
That is why I have compiled the proven methods that worked for me and others that I have read their success stories on the internet.
- Top 6 Challenges of Agribusiness In Nigeria
- 5 Facts They Won’t Tell You About Rabbit Farming in Nigeria
Raising Funds As A Young Person Who Wants To Start An Agribusiness
- Donations from families and friends
Little drops of water makes a mighty ocean
Appropriating a percentage of money earned from menial Jobs or from salaries can go along way in setting up your agribusiness, it might take long but definitely it can be achieved. For many, this approach always is seen as a mirage that can never be catch up with.
If you find it difficult to save money because of your extravagant lifestyle or habit of trying to impress all, you can make use of the Piggyvest app to save your money. Piggyvest is a very secure online savings platform that helps you achieve financial freedom by enabling you to save responsibly.
Where will the money to save come from?
If you are a teenager with a good command of English or have any digital skills? You can make some money off sites like Fiverr and Upwork by rendering services to people.
I bought thirty rabbits in the month of August 2019 with some of the money I earned as a freelancer working for blogs and businesses. You as well can make your money with this approach then invest the money into any agribusiness of your choice.
And if you have no digital skills to render but employed, you can start by keeping 2-3% of your monthly salaries into this cause. It may take longer but you can achieve it.
This method of raising funds is changing lives all over the world. It is done with the aid of technology and involves pitching your idea on any crowdfunding site of your choice and people contribute depending on how enticing your pitch is and how appealing your idea is. We have different crowdfunding sites such as Kickstarter, GoFundme and Indiegogo. Many of this site has helped many raised millions of dollars for their projects.
This approach seems easy but you need to get your pitch right as that is what will determine what funds will be raised.
A partnership is another way to raise funds for agribusiness, especially for someone with no funds. Instead of asking your friends for money to spend in club and alcohol, you can go into partnership with them, share the idea with them and explain how feasible the idea is. Talk out what sharing percentage will be used and make sure it is legalized.
Donation from family and friends
Family members and friends can be regarded as another source of raising funds for someone interested in agribusiness. We have entrepreneurs such as Bethlehem Alemu from Ethiopia, who started her dream business in the year 2004 with $ 10,000. The funds were raised from family and friends.
My question is have you talk to your uncle, aunty or parents about your ideas? If you haven’t done that before do it now.
You might be lucky.
Don’t put an end to that dream of you becoming an agribusiness owner.
Don’t give up because of grants government promised are not forthcoming.
Just start somehow, if you have no money to buy resources or materials but have an ancestral land look for someone with funds to partner with. If you are a salary earner with a little paycheck, save the money little by little.
With time and diligence, you can become that agribusiness owner!
Do you have any questions to ask or contributions to make? Kindly make use of the comment box. Do you have an interest in rabbit farming? Check out List of Price of Rabbit in Nigeria