Start Your Own Farm with These Government Incentive Programs!
As enticing as it may sound to be your own boss, a business in agriculture can be fairly tough to manage, especially if you have next to no experience in terms of farm work.
However, it’s a challenge that many have taken up, and by applying for government grants, hundreds of Americans have started their agricultural businesses from the ground up, building a farm and running their first entrepreneurship.
Of course, if you take out a loan, this means that your business will eventually have to reach some success in order for you to repay the loan without losing money, which isn’t the case for grants, as they’re more of a handout from the government.
Whichever it is you receive, know that running a farm is no easy business, and even if it’s profitable enough to get you ahead in only a year, it’ll be a challenge for any first-time entrepreneur.
Where to start
When choosing to start a farm of your own, the first thing you’ll want to figure out are the crops/produce you’ll be growing.
This is what makes the difference between a farm and a ranch, and you could just as easily herd cattle as you would grow beets or lettuce.
As long as you’ve got all the necessary tools for the job, the only other thing you’ll need is some elbow grease and determination, and those are the entry level requirements for any entrepreneurship.
Through these grants, organizations can receive up to $250k for managing and creating farmland, although at least 25% of these funds must be distributed to farmers disadvantaged by social constructs and other nationwide issues as well as those looking to start their own farm from scratch.
Money doesn’t grow on trees, but this doesn’t mean you won’t be able to grow it in due time.
Even though the majority of the federal assistance comes from the Department of Agriculture, farmers can easily apply for grants and loans through other organizations in their state.
In Texas, the Young Farmer Grant Program allows for first-time farmers between the age of 18 and 46 to receive grants up to $20k to pay for their operating costs, livestock, food and other expenses that come with running a large farm.
In fact, it doesn’t matter what state you’re in, and as long as you can contact the local office for the Department of Agriculture, you won’t have a hard time finding federal assistance for starting your own farm.
There’s more than a few types of grants you can apply for, each with their own terms and purpose, although your best bet would always be going for grants aimed at first-time entrepreneurs, as you can’t necessarily guarantee your farm’s success.
However, a bit more goes into running a farm than just tilling some land and watering your plants regularly.
In fact, the whole process is much more complex than one would imagine, and it’s why organic farms have gone up in popularity.
In a way, an organic farm is one that technically runs itself, as all the produce/meat is grown organically, without any human influence outside of actually providing it with all the nutrients it needs to grow.
Due to the demand for these products, the government is now incentivizing farmers and prospective entrepreneurs to start their own organic farms, as it would create additional organic produce on the market.
Carefully go over all the details and determine whether a farm is the right thing for you, as it is a lot more work than most are used to.
Beginner farmer and rancher training
At first, you won’t have any experience with running a farm, and you’ll be learning more from your laborers than they will be from you.
However, with enough exposure to the work and all the challenges you’ll overcome, soon you’ll become a highly skilled farmer ready to take the world on one step at a time.
The National Institute of Food and Agriculture funds dozens of education programs aimed at first-time farmers, distributing the funds for these programs using state, local and national level organizations dedicated to this cause.
These grants then help develop marketing strategies or familiarize farmers with the ins and outs of running a farm.
Currently, the limit is set at around $250k every year, although most organizations and farmers will receive a lot less in order to achieve their goals.
Starting your own business can be an incredible leap of faith, and this is particularly true if you’re setting foot into the absolutely unknown territory of running a farm.
First time farmers will face dozens of different challenges, and if they do overcome them, the investment will quickly begin snowballing towards tremendous amounts of income.
Running a farm is no joke, and neither are the benefits that come with being a farmer.