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Here's How to Start a Farming Business

July 11, 2023 • Estimated Reading Time: 6 minutes

The agriculture sector is one of the sectors of the South African economy that has experienced continued growth and expansion over the past two years. This is according to GreenCape's 2023 Sustainable Agriculture Market Intelligence Report, and it shows that there is money to be made in farming despite difficulties such as drought and load-shedding.

Some businesses to consider when venturing into agriculture include:

New This Week (11 July 2023)

Fund Your Farming Business Dreams

South Africa is the home to rolling hills, giant fields and dreams of making it big in the Agricultural sector. Whether you imagine yourself raising livestock or tending to fields, one thing is always going to be a factor, how do I fund my farm? Whatever type of farming business you start, make sure that you begin with a solid business plan including a list of equipment you will need. Funding can come from various sources - here are some to look into:

  • Agro-Processing Support Scheme

  • Co-operative Incentive Scheme (CIS)

  • The Black Industrialists Scheme

  • IDC Agro-processing and Agriculture Strategic Business Unit

  • Isivande Women’s Fund (IWF)

For a full explanation of these and other ways to fund your business download the ebook below:

Keep Your Businesses Safe From Cyber Threats

With the advances in tech, cyber threats have evolved, and so has our need for cyber security. An excellent place to start is to understand the common cyber threats facing SMMEs today: 

  • Malware attacks  - Through the use of apps

  • Phishing Attacks - Fraudulent messages

  • Business Email Compromise (BEC) - Impersonating businesses

  • Password Attacks - Compromising passwords

  • Man in the Middle (MITM) -  Impersonation of trusted individuals

  • Insider threats - Risks from within the company 

These are common cyber threats within SMME, check the attached link for the shocking facts and figures attached to these threats and how you can protect yourself. 

Your Business Can Thrive in a Competitive Market

Competition in business is inevitable and does not have to be a negative thing. Competition in business encourages innovation and motivates companies to offer better products and services. That being said, it is still a scary thing to see others encroach on your territory and reduce your customer pool. The guide below covers the best ways to overcome your competition and get customers to choose your business every time through:

Free Tax Assistance

The words tax season can strike fear into the hearts of small business owners. Understanding which common mistakes are frequently made can help you get the best out of this tax season. 

Make sure you: 

  • Don’t forget to add travel expenses

  • Don’t forget to declare medical dependents

  • You retaining all supporting documentation

  • Get help from an expert

 For reminders like this and much more, Sage has released an all-inclusive guide to assist you in navigating the upcoming tax year end confidently.

What You Need To Know About NEF Funding

The National Empowerment Fund (NEF) is a driver and thought leader in promoting and facilitating black economic participation by providing financial and non-financial support to black-owned and managed businesses. Who can apply for NEF:

For more on what the fund does and how you can get involved, see below: