Why Poultry Farmers Should Have A Business Plan?
According to statistics, Nigeria consumes 1.5 million Metric Tones of poultry meat, but the problem is that only 30% is produced locally while the remaining 70% is imported. Another stats from CBN, shows $3 billion is spent annually on frozen meat importation.
With the above information, it is obvious that poultry farming is a lucrative but adequate funding remains a challenge. Poultry farmers often find it difficult convincing investors or banks to lend them money and it is often due to lack of bankable business plan. Having a well written business plan with proper financial analysis is your first step to success. A prospective investor by reading your business plan will be convinced to invest in your business and commercial banks can give you loan because they can see a road map in place on how to get back their money.