(Optional) Explain the benefits and challenges of owning an agricultural business.

Explanation should include the

• benefits
  • independence
  • personal satisfaction
  • creativity
  • financial freedom
  • job security
• challenges
  • market-related risk
  • access to finance and credit
  • low bargaining power
  • access to information
  • vulnerability to economic shocks
  • access to training.

Process/Skill Questions:

• What would be some of the disadvantages of owning a business?
• Why should one research the market carefully before buying or opening an agricultural business?
• What strengths, weaknesses, opportunities, and threats (SWOT) come with owning one’s own agricultural business?