As we have ushered in a New Year, many of us need new things and business ventures to try out. Agriculture is a fast paced system that has turned out a lot of money for centuries. Over the years our ancestors at one point or another relied on farming for sustenance and money, even many people in the bible were farmers. Why is it an issue today?
Why do we turn our noses down on the thought of becoming farmers?
We should all make it a point to go into Agribusiness because as the world evolves and changes agricultural also grows and it is one thing that remains constant, which is why it is a good business plan for the year 2022.
What is Agribusiness?
Agribusiness is a term used to describe the sector that encompasses all economic activities that are related to farming, i.e., chemicals, breeding, crop production/farming, farm machinery, distribution, marketing, and sales.
The Importance of Agribusiness
Agribusiness is a sector that supports the growth of the agricultural industry, which is pivotal to economic growth. It also continues to play a crucial role in the growth of developing countries. Agribusinesses can potentially improve agricultural productivity, which is why governments often offer subsidies to agricultural businesses.
Agricultural activities also contribute to an improved system of food security and sustainable food production, as well as income for a majority of the poor in developing countries. However, the activities increase the emission of greenhouse gases and contribute to global warming – which is why innovation is important to the sector to address such problems.
Innovation in Agribusiness
Innovation is a continuing endeavor among agribusinesses, as the industry seeks improved and efficient methods of production and processing. For example, many companies now offer drone surveillance of farms, which gives the farmer/owner insights on the health of crops and helps them to create stock projections and plan for the future.
In addition, new and improved types of machinery are being engineered and manufactured on a large scale, such as robotic harvesters, automated pesticide sprayers, and driver-less tractors.
Ultimately, the aim of innovation in agribusiness is to improve agricultural productivity and make agricultural activities easier for farmers. It aims to lower the costs of production and increase profitability for farmers, who often endure volatile market conditions as crop prices fluctuate with changing economic conditions.
This and many more is the reason why Agribusiness is going to keep growing and keep being a sustainable source of income for individuals as well as other countries.
Don’t you want to be part of the 1%?