about

MY BUSINESS PLAN

I plan to have my own farm and become an emloyer of Labour in the

future. I want to start my farm immediately after my NYSC year.

The farm will be sited at Akwa-ibom state.

·       I will plant maize of 15 acres

·       Early planting 10 acres

·       Late planting 5 acres with cassava inn between

I need loan amount of 500,000 to start my farm which I have confidence that I will be able to pay within a year.

The market is on through the year.

This business is profitable with buyers are everywhere and it will add to the GDP of the country. The money I want to borrow will be used for the following:

·       Cleaning of land 10,000 per acres

·       Ploughing 5,000 per acre

·       Seed 3,000 per acre

Therefore,

·       Herbicide 5,000 per acre

·       Labour 7,000 per acre

Total 30,000 per acre

Cost of 15 acres is 30,000*15 = 450,000

                         FARM EQUIPMENT

·       Spraying 9,000 per 1 => 2 pieces is 18,000

·       Cutlass 1,500 per 11 => 2 pieces is 3,000

·       Assorted hoes 3 pieces => 3,500

·       Gallons 10 pieces => 2,500

·       Cassava stem => 20,000

TOTAL COST = 47,000

Cost of 15 acres + Total cost of farm eequipment = Grand Total

450,000 + 47,000 = 497,000

EXPECTED INCOME WITHIN A YEAR

 1 acre will produce average of 5 bags of grain (maize)

 1 bag of grain (maize) is sold at an average of 15,000

 1 acre expected income is 15,000 * 5 = 75,000

 15 acres expected income is 75,000 * 15 = 1,125000

With my knowledge I will be able to manage the farm successfully and pay back the loan