When young people think of starting an agriculture enterprise be it a farm or some other Initiatives across the value chain, one major challenge is the funding to kick start their idea. This post sheds light on practical finance options for youth
The fall in the price of crude oil in the international market has pushed the Nigerian economy to austerity limits. The Federal Government and other national stakeholders are now looking towards the agricultural sector as the major antidote to the austerity the country is facing. Young agripreneurs are faced with the heavy burden of obtaining capital for agricultural projects.
Listed below are some ways in which young agripreneurs can get finance for their agricultural projects.
i. Personal Savings
Young agripreneurs can obtain finance by cultivating the habit of saving. There are several businesses in the agro-allied sector that requires minimal startup capital. A very good method of generating huge capital for agriculture is by re investing any profit generated from previous agric projects. As a youth corp member, I have cultivated the habit of saving 50% of my monthly allowance for agricultural projects. It is expected that…
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