Most farmers don’t keep financial record.
We calculate by memorising
” I have 10,000 in my account when I start farming”
“I shaa know I have been borrowing more money to run the farm”
” Friends and family members have been supporting my business”
Several of the above reason make it extremely difficult for farmers to access loan from any financial institution
Most farmers started well by keeping records but got lost as the farm activities proceed and they keep spending and spending without getting any return
Most farmers calculate profits by guess work..
” I bought goat N5,000
I sold the goat for N10,000
I have made profit of N10,000
But in real sense they might be running at a big loss which they did not know
If only they will sit down to estimate the other incurred expenses like …
How then do farmers break even?
One is forced to wonder
There is a lot to learn in the agribusiness sector
Take time to acquire knowledge