I've been trying to understand what if any programs there are for farm start up.
For example I would need help in the following areas
Bank business case
Understand government programs (if any) for new farmers
What is the current cost per acre of land. From what I've seen it can be from $6000 to $10000 per acre.
I'd also welcome any additional comments or suggestions about how best to do a start up of 100 acres or more.
Thanks in advance for your time.
I would suggest visiting the local Farm Credit Canada office and asking about the Beginning Farmer programs.
Your business model and case will be very important - what type of farm you want to start.
Land is important but there are ways of working around ownership if you have a sound business plan....partner with existing older farmers with no clear family succession.
Yes I did call the Farm Credit Canada as a first step. They have told me they will send me a template for a business plan but as yet it's not shown up. So I've taken it upon myself to do my business plan. My next step is contacting a financial planning & consulting service to help with the plan, however this will cost a few bucks.
As for the farm I am looking to setup would be a cash crop farm. Simple to start with just growing corn, soy beans, and hay.
For the most part I can do the numbers on the purchase price for the land and machinery. Where I am struggling is on the cost for seed and then trying to work out what the yields might be on class 2 and class 3 land.
I do like the suggestion of partnering with an existing farmer, and will begin that search right away. This I think would be a great source!
Please keep giving advise and comments as I do appreciate them