A lecturer of Agricultural and Economic Business at the University of Ghana (Lagon), Dr.Irene Egyir has noted that Ghanaian farmers do not recognize farming as business, hence they do small scale farming, most of the farmers are Peasant farmers, she added.
Dr. Irene Egyir stated this on Rite FM Morning Ride program when answering questions on what farmers should consider before going into plantation.
This issue has become necessary because farmers who grow plantain at Asante Akyem Agogo in the Ashanti Region had bumper harvest last year but had no ready market for the produce and were calling for buyers and processing companies to come to their aid. This is a problem that cut across all the 10 Regions in the country
She revealed that because farmers do not see farming as business they do not apply the four Ms (4ms) in business.
The Four Ms (4Ms)
Motive; that is the motive behind the farming, the main reasons why that farmer wants to do farming
Money; where to get money to invest into the farming, the third M, Management, that is how to mobilize labour and equipment to do the farming and the fourth M is marketing, that is how to get ready market for the produce and plough back the money invested.
Dr. Irene Egyir said that if farmers should see farming as business and a source of income to cater for their family and build houses, they would apply the four Ms.