Steps you take in embarking on Agribusiness in Nigeria, what you want to invest in, cost and profit, plan, license or permit, export license and location.
KNOWING THE KIND OF AGRICULTURE TO INVEST IN.
When starting an agricultural production business, you need to have the knowledge of the type of agricultural produce you want to embark on. like livestock’s, cattle’s, goat or vegetable business.
MAP OUT YOUR COST, PROFITABILITY AND OPERATIONAL STRATEGY (FEASIBILITY STUDIES)
How much capital will I need for the business?
Is it a long or short-term business?
How much profit should I be expecting in an estimated period?
What are the strategies to adopt for maintenance and improvement?
What are the strategies to adopt for sales of farm produce; local or international sales?
How will I maintain or improve natural resources and the immediate environment?
What is the best labour strategy to adopt?
WRITE A BUSINESS PLAN
A business plan helps to explain better the idea behind your business, like how your products will be sold, identifying who your target market are and explains how the company plans to sustain the market, most of all, it depicts professionalism and business venture viability to investors.
GET A BUSINESS NAME, LICENSE OR PERMIT
License or permit is the Legal aspect of setting up an agricultural business in Nigeria. A business name is also known as a trading name, that is a name or title under which a person or legal entity trades.
GET AN EXPORT LICENSE
There are certain procedures to follow in order to get an export license in Nigeria.
The body in charge of granting an export license is the Nigerian Export Promotion Council (NEPC)
Here are steps and requirements for getting an export license from the
NEPC
Exporters Registration Form from NEPC
Submit your completed registration form to the NEPC, attaching the following documents:
Photocopy of Company’s Certificate of Incorporation;
Certified True Copy of Memorandum and Articles of Association
Alternatively, contact a lawyer for advice and consultation.
IDENTIFY THE BEST GEOGRAPHICAL LOCATION
Determining the location and best climate condition suitable for your desired crops, ascertain the topography of the area.
Examine the soil type suitable for your desired agricultural produce.
