Is it wise to start a poultry business with borrowings?

[Kingsley]

I have been considering having a large scale poultry farm of close to about ten thousand birds, and looking at the financial implications, I realize I can handle that project all by myself due to the financial constraint. We all know what the situation of the country is at the moment. Every is struggling to be able to put food on the table regardless of the quality or even quantity of the food. People engage in several forms of trade just to survive.

So with that at the back of mind, I just want to start something that will get me out of the atmosphere of struggling. I have consider alot of other business that will generate something and that will stand the test of time but it seems poultry business is not all that seasonal because people will always require even the waste produce of the beds we call droppings, and the eggs will always suffice when we are not in the festive period.

But the challenge for me right now is raising the required fund as this is the major challenge of somany business oriented people in Nigeria. So I am seriously considering borrowings but the challenge now is that as we all know business is full of risk, will it be wise if I borrow?.

 

[Mika]

This depends on burrowing conditions. If you have borrowed from friends and family and if you do not have to pay the interest on the borrowed amount, it is a good idea to start a poultry business with burrowed money. Even when you have borrowed from the banks and if the interest you are paying is very small, it will be a good idea to start a business with a bank loan, but if you have to pay higher interest, it is very risky because the poultry business is considered very risky (because of the high mortality rate of chickens)

 

[funmi]

Well, am not really a fan of borrowing money to start a business. Poultry business can be put side by side with cryptocurrency. Anything can happen at any time without having much to do about it.
Since you stated it categorically that you want to start it with the borrowed money, my brother, this is very risky to do. Poultry business that I know is not really a fast business and the cost of running a poultry is at the high side right now in this country. I know someone that is running a poultry in my area, they produce eggs. She complains a lot about the price of the feeds every day. So please think twice.

 

[Mataracy]

As for me I think this depends on how professional you are in the field that will determine where you can borrow that there would not be problem should in case any thing happen the other way.

If you are the type that knows how to treat the birds very well before or you had experience in rearing birds before I believe that the risk will be manageable should in case any negative thing occur along the way.

Am saying this because if those birds develop any sickness you will know what to do in order to save their life so that the mortality will reduce.

 

[LoukiaCharilaou]

I have been considering having a large scale poultry farm of close to about ten thousand birds, and looking at the financial implications, I realize I can handle that project all by myself due to the financial constraint. We all know what the situation of the country is at the moment. Every is struggling to be able to put food on the table regardless of the quality or even quantity of the food. People engage in several forms of trade just to survive.

So with that at the back of mind, I just want to start something that will get me out of the atmosphere of struggling. I have consider alot of other business that will generate something and that will stand the test of time but it seems poultry business is not all that seasonal because people will always require even the waste produce of the beds we call droppings, and the eggs will always suffice when we are not in the festive period.

But the challenge for me right now is raising the required fund as this is the major challenge of somany business oriented people in Nigeria. So I am seriously considering borrowings but the challenge now is that as we all know business is full of risk, will it be wise if I borrow?.

Hi. It is a very good idea to start a poultry business especially if you borrow money from your family and friends and not from the bank. When you start working, you will be able to pay them back. It is also very important to have some experience and knowledge about this kind of business.
The decision is yours. I wish you every success.

 

[Jasmine]

I do not have any experience but based on my understanding I think poultry to one of he most profitable agriculture based business. You need to spend at least 3 months to grow vegetables and make money by selling vegetables. But if you are raising chickens for meat, you can sell your chickens in less than 50 days and profit from your investment. You can also insure your poultry and get refunds in a situation when your chickens due to diseases like bird flu. Even if you are starting from scratch, you might be able to earn profits in less than 3 months.