Business models are changing, demanding new thinking from industry leaders. Perhaps, against this backdrop, the need to explore various opportunities in the Agribusiness sector formed the highlights of a seminar organized recently by Scentia Consult Limited.
Business Strategist and Development Expert Helen Emore, convener of the meeting while speaking to 101Business TV News said the message is not just for Entrepreneurs in the Agribusiness sector, but also for anyone who’s business has not been doing well in recent times.
‘’My message is not just for people in the Agribusiness sector, my message is targeted at professionals, Entrepreneurs and people who are in businesses that are not doing well, because in the last three or four years, our economy has changed.
The dynamics of the world has changed and people are still struggling with the same business models that they used in the 90s, and the early 2000s. It’s no longer the same ’’.
According to her, the Agribusiness sector is one that is still under developed and it needs different experts to come in and make it happen, as there is a constant demand for it to meet the demands of food and fuel.
Highlighting the various growth levers in Agribusiness such as farm development, value chain development, cluster development, she said while operators need to improve on services as well as financing, favorable government policies are also an aspect of growth that need to be improved on.
However, she reiterated that government will not change policies just because it is demanded, as there must be a deliberate activity that would make this happen.
‘’My message is, get into that space and bring what you have with you. Do not go and own a farm, it is not necessary, there are so many things to be done in that space, we need to get people thinking in that direction. It’s a lot of hard work, but you need to make people see value in what you are bringing into that space’’.
According to her, in starting out, an individual must first ask him or herself questions as to how much value they aim to bring into the sector starting small.
This she says is the beginning rather than setting all out to own a farm.
She also talks about phasing one’s plan by starting small as a way of piloting the project emphasizing that by starting small, you minimize losses.
Helen also advocates specialization, according her you cannot grow three businesses at the same time as all three are more likely to fail.
‘’There’s no magic recipe anywhere, whatever you want to do, look at the market, the processes, think ecosystem and ask yourself, what can I bring to the market that meets the needs of the market’.
Processing, logistics, consultancy services are areas in Agribusiness that offer huge opportunities for anyone seeking to play in that sector. Her message is that your area of strength is a key point to begin.
However, this does not rule out other key factors such as seeking professional advice, being consistent and stable.