Are you a minority interested in starting an agriculture-based business? If so, you may want to pursue the path of minority-owned certification. Through minority-owned certification, you can acquire many financial benefits that will make jump starting your business much easier.
Hands-On Business Training
Most projects that are designed to help minorities aren't just designed to throw money at the problem -- they also offer education and training. The small business administration, in particular, runs numerous programs that offer hands-on business training and the ability to shadow accomplished entrepreneurs. Through events, seminars, and training programs, minority business owners can learn more about the ins and outs of the agriculture industry.
Access to Better Funding Options
The small business administration and the agriculture industry both provide grants and funding available for minority-owned businesses. These programs are usually highly favorable. As an example, a minority-owned farm can qualify for a substantial loan with lower interest and a lower down payment than a conventional loan. These loans are easier to get than conventional loans, requiring less by way of assets and credit score. This is intended to balance out the fact that minorities traditionally find it much harder to procure funding in conventional lending environments.
In addition to providing hands-on business training, grants, and funding options, minority business owners can also acquire degrees and continued education related to the agriculture field. The agriculture industry is constantly looking for professionals who want to learn more about agriculture as a science. Through the agriculture department, business owners may be able to go back to school to acquire further degrees and better themselves professionally.
In many businesses, who you know matters. The agriculture industry is no different. For the most part, communities tend to be very tightly knit, and agricultural businesses such as farms need to work together to create coops, farmer's markets, and negotiate local contracts. Minority businesses will be able to network with other minority-owned businesses, thereby increasing their bargaining power.
Being a minority doesn't mean that you don't need additional qualifications. In fact, the qualifications can be fairly strenuous -- not only do you need to be a minority, but you also need to go through training, have experience, and also develop a solid business plan. But having a minority-owned business can open some doors, which are intended to equalize the playing field for those who are not traditionally welcomed into the agriculture sector. Contact a company like Vantage Point Consulting, INC. to learn more.Share