SBDC Client Wins 2019 Entrepreneur of the Year
[vc_row][vc_column][vc_column_text]On April 1, 2019 Mr. Will Harris, fourth-generation cattleman and owner of White Oak Pastures in Bluffton, Georgia was presented with the UGA Small Business Development Center’s Entrepreneur of the Year Award. The award is sponsored by Cadence Bank, N.A., and Senior Vice President Ruby Lalani along with UGA President Jere Morehead presented it to […]
Grass-Fed Beef Producer Revives Old Business Model and Creates New Jobs
Will Harris’s day starts much like his father’s and his grandfather’s and his great-grandfather’s did: with his boots planted firmly in the same fresh-smelling, fertile soil of his ancestral farm in Early County, Georgia. Like a cherished family tradition, the natural cattle-raising method Harris follows at White Oak Pastures resembles that practiced a hundred years […]
Aid in Securing USDA Loan Places Southwest Georgia Product on Store Shelves Across the U.S.
Ray Crosby knows his bees and honey. A third-generation farmer who lives with his family in Omega, a rural southwest Georgia town, he understands what makes his product—packaged as pure, unfiltered raw honey— unique. His knowledge, in fact, resonates with the customers from coast-to-coast who buy Weeks Honey. “Working with Ray, I’ve learned a lot […]
Small Business in Agriculture
In the 2017 edition of the University of Georgia Small Business Development Center’s publication, “Small Business and Its Impact on Georgia,” the article below titled, “Spotlight Industries in Georgia: Agriculture,” was featured. Georgia is well known for agriculture. Farming has been a way of life for generations in the south, and Georgia is no different. […]
Importance of Agriculture in Georgia
The business of Agriculture has long been an important part of Georgia’s economy and will continue to be a driving force at the local, state, and national level. Georgia has the unique attribute of being home to a diverse array of food and fiber production and a rich assortment of the related economic sectors that make the entire system work. Together, these directly and indirectly related industries account for over $74.3 billion dollars in output contribution to Georgia’s $907.7 billion economy. This economic role also includes over 411,500 jobs for 2014.
Funding Options for New or Young Farmers
For many young farmers there is a deep desire to grow their farming operation, however, most are faced with the challenge of getting financing. Young farmers that are just getting into the business have not had time to build a lot of equity. Because of this, banks will consider the young farmer to be riskier compared to a seasoned farmer. One of the many variables banks will consider is how well the farmer can manage their working capital, and without a history of that from operations, it’s more difficult for a bank to determine the likelihood of repayment. Today, with low commodity prices and smaller margins between expense and revenue, young farmers are exposed to tough decisions and banks are tightening their internal lending policies. Despite this, there are still many opportunities for the young farmer.