WHY DO AFRICAN AGREPRENURS FAIL?
Farmers Support Initiative
There are numerous business opportunities that farming presents but many farming businesses fail, especially in Africa so what are the reasons?
Farming is fast becoming the world most important industry largely due to growing need to feed a vast population of people spread across the globe, billions of people and still counting. Even though people keep flooding the farming industry, it is common knowledge today that you too can become successful by penetrating with a unique selling point and good information.
But then, many out there will ask why do African farmers work so hard, yet appear to be the poorest citizens among their fellow countrymen and women?
It is this anomaly that gave room for these probing questions seeking answers.
Here are some of the basic reasons why African farmers fail depending on their location and circumstance:
- Lack of Knowledge: many Africans often venture into Agribusiness without a basic knowledge about farming or business therefore end up working in vain.
- Bad Location: Every crop has its own location so when the wrong location is chosen, it spells doom for the farmer.
- Improper Planning: Acting without proper plan is another reason for failure.
- Poor Customer Relationship: How about the relationship with the customer?
- Premature Scaling: Is the time right or it doesn’t matter? But matters in the long run
- Lack of Core Values: What are the values? Are they recognized, implemented or upheld?
- Wrong Partner/Team: Who is your partner? Is he interested or just waits for the interest?
- Use of Business Funds for Personal Gains: What are the gains of the business used for? Ploughed back into the business or for new cars, new wife?
- Selling on Credit: How do you sell? On credit, grant to relations or in cash?
- Poor Farm Management related: Who is your farm manager or who are your farm hands? Think twice before choosing them.
These reasons and solutions will be published in our next edition.