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re: Starting a buisness (farming) and curious where to start

Posted on 2/17/17 at 4:57 pm to
Posted by Decisions
Member since Mar 2015
1489 posts
Posted on 2/17/17 at 4:57 pm to
I'd set it up as either a partnership or just you and your wife in business together so that you can qualify for more than one FSA payment limit (for in the event that a disaster happens in the area and government payments are made to you).

Also, go by your local FSA office and talk to them about Beginning Farmer loans for things such as operating expenses. They are practically zero interest and the limits will be way higher than anything you'll need.

NRCS also has a few programs out there that you might qualify for: CSP, EQUIP, etc., that you should definitely look at. All of these government programs and offices are here to help in some way. Use them.

Also, BUY INSURANCE. No matter what you're farming, I can't stress it enough. Buy insurance. If you're row cropping read up on the ARC and PLC (and STAX if you plant cotton) programs.

That's all I can think of right now without more info on what kind of operation you're running.
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