One of the Cameroonian economy’s most prosperous sectors is already the agricultural one. The two things you require are a strategic plan and some fundamental farming expertise. Starting a successful farm business in Cameroon will be made easier if you have some expertise in manufacturing or processing operations.
To operate an agribusiness, you don’t need a lot of money. No matter how big or small your involvement is, this business offers limitless prospects.
Agriculture-related products are in high demand both in Cameroon and around the world. Food is one of man’s essential needs, hence this demand will only grow. You will participate in the industry as an agribusiness owner and profit from your efforts. I believe you won’t fail at something if you take the proper precautions.
Put down your objectives
The agricultural industry is quite diverse. When it comes to agriculture, it’s not only about the products; there’s also the aspect of the services.
Additionally, there are other subsectors within the sector, including fisheries, crop, and animal production. You must decide what goods or services you wish to provide before you start farming. If you are involved in crop production, you must decide the crop(s) you want to produce.
Additionally, keep in mind that the location of your farm may affect the crops that are grown there. Given that every agricultural business is different, careful thought and planning are needed.
You must create a business plan for your agriculture enterprise in this situation. In crop production, the plan should include the product you aim to produce, the investment amount, the supplies needed, the expected revenue, and the administrative documentation needed.
You must find a farming issue that people have and concentrate on your strategy to address it in your company plan. Working with some farmers and people who purchase agricultural products will help resolve this. Interacting with them will enable you to pinpoint some of the most pressing issues they deal with.
Where to establish your farm
As was already said, certain farmlands dictate the kinds of goods you must create. Not every crop can thrive on every type of soil. Your choice of crops to grow may be influenced by soil and weather conditions.
Choose the structure of your agribusiness
When you consider farming as a business, you need to consider selecting a structure for your enterprise. The three most prevalent business entities in Cameroon are sole proprietorships, partnerships, and limited liability companies. An organization or cooperative society can be what you should have in mind if you are interested in social businesses.
Make sure you have all the paperwork required to run your agriculture business.
This includes any necessary licenses or permits, such as your business license, taxpayer identification number, land permit, and business registration certificate.
Look for financing
Consider the aforementioned ideas before beginning your search for financing for your farm. Do the required study, consult other farmers, obtain the required paperwork, and most importantly, consider your market.
Potential business owners who want to engage in agribusiness are sometimes constrained by a lack of initial funding. However, since you can start with as little money as possible, this shouldn’t be a huge concern. This will help you develop slowly and learn about the industry. The word “start” should be used here.
The best method to get started in agribusiness is with money you have already saved. It will enable you to put your agricultural concept to the test and get important knowledge and lessons. You can then invite outside parties, such as banks and other investors, from there.
Obtain your farming land
About 15% of Cameroon’s total land area, which is about 475,000 square kilometers, is arable. Be aware that just a small portion of this arable land has been utilized, and that portion is primarily used for subsistence farming.
It could be simple to find land for your agricultural business, but you must exercise extreme caution. Because the government may have schemes for them, not all arable land is available for purchase or lease.
You must conduct thorough research before entering into agreements or developing property for farming, especially for long-term agribusinesses.
The government has procedures for purchasing an agricultural property that can take from a year to 20 years, depending on size and other factors.
