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Breaking barriers for beginning farmers
July 20, 2022
Here are just a few challenges beginning farmers should keep in mind.
Like getting started in any business, there is a start-up cost. Unfortunately, the cost to break into the agriculture industry is exceptionally high, and a cost that will likely only continue to increase.
Increasing Land Prices.
One reason for the expensive price tag of starting a career in farming is the cost of land. Since 2020, land prices have continued to climb higher, making entering the industry for beginning farmers an even greater challenge.
Access to Land.
Even if we weren’t seeing a spike in cost per acre of land, finding land to farm, whether that be to lease or purchase, is an increasingly difficult task.
Lack of Business Knowledge.
The same passion for working outside doesn’t always carry over to the financial and business planning side of a farm operation, leading to unrealistic goals, inaccurate projections and below expectation results.
Limited Down Payment.
Often times, young producers don’t have the cash to put down a large down payment, especially when the cost is underestimated.