How to start poultry farming business [Profit and Investments]
Poultry and dairy farms are set in different places with the main objective of animal husbandry and expanding the poultry. Government provides the loan at a low-interest rate for this business. When planning to start this business, it might require a lot of space that will help in the proper set up of the farm. Moreover, space is considered as the important expenditure when it comes to poultry business. Even if you plan to start this on a small scale, you have to rent a land near your house. The area of the land required to set up this business will depend on the number of chickens that you want to deal with in this business.
Environment suitable for keeping animals
- The places selected for this business should be away from the city so that you do not face any problem in keeping the animals.
- After this, make sure that no water is kept near or inside the poultry as this can bring in additional problem.
- Also, before finalising the place for storing the animals make sure that you can reach the place easily.
How are poultry framing subsidies provided?
Government gives partial loans to entrepreneurs who deal with poultry farming business. If you are planning to start the business with a budget of rupees 1 lakh, you can get a subsidy of 25% if you belong to the general category. The subsidy will increase to 35% for the ones who belong in the ST and SC category. The subsidy is issued by NABARD and MAMC. Thus, it is possible to start this business with low budget.
Apply loan for poultry farming business
Several schemes have been introduced by the government to help expand poultry farming business. But it is seen that people engaged with this business is not able to know about the details of the schemes available relating to this business. After availing the subsidy, the rest of the amount is available via the loan acquired. This way, the entrepreneurs can start the business with suitable assistance from the government. There are people who do not have any idea about these schemes relating to poultry farming and thus they fail to get the financial assistance and start the business smoothly. Therefore, the government has instructed the banks to provide a farming loan to the one who needs it. In this way, it is evident that the banks are committed to paying the farming loans and help the farmers and the entrepreneurs. Poultry loan is given at 0% interest and the entrepreneurs do not need to pay anything in return except the principal amount.
How can you start poultry farming business?
Since entrepreneurs are able to get good financial support from the government, it is important to start the business in a systematic manner. Some factors should be considered when planning to set up the business.
- Selection of the farm – Selecting the location of the business is essential. After this, make the necessary arrangements to keep the animals suitably. In addition, make sure that the place in which the animals are kept is clean enough.
- Registration for the business – It is necessary to register your poultry farm via MSME. In this way, you will get the industry base and certain other points should also be considered.
- Maintaining accounts of the business – It is necessary to maintain the expenses incurred in the business such as roofing, stand-up including others. With all these details you can seek help from nearby financial institute to get a detailed version of the accounting process.
- Bank loan – Under this process, the entrepreneur receives the loan and after that, they have to sign in different forms for the completion of the loan procedure.
- Subsidy available for the business –The bank from which you seek the loan will offer subsidy according to the subsidy scheme as has been stated by the government. Thus, the entrepreneur can get the subsidy added in their account. So, they will be able to establish their poultry work effectively and earn good profit from it.
Registration of the business
- Online registration is possible only through industry base. For the registration purpose, you have to visit a suitable link to get through the procedure.
- After this, you have to enter the base number along with the name of the entrepreneur. Following this, you have to click on the ‘validate base’ option.
- In this way, the base of the business is validated, and the registration processing is done.
- Adding to this, you have to enter the company name, contact details, email address, and the start date of the business. Along with this, you also have to provide bank details, pre-registration details. You should also mention the number of people working in the company along with the amount of investment.
- After entering all the details, you have to click on the submit button.
- You will notice that the certificate has been generated by MSME and you will receive a confirmation email.
What are the benefits of the farming business?
- According to the present scenario, poultry and dairy farming is deteriorating, and in order to help people carry out the business in a systematic manner, a host of facilities are introduced by the government and the loans are offered at 0% interest rate.
- If you are worried about maintaining the health of the animals in the farm, a stable diet has been prepared that will contain grain produced and items made from straw.
- Due to the expansion of the poultry farming occupation, it is possible to create an employment opportunity for a huge number of unemployed.
- There are chances of making profit as poultry and dairy items are highly consumed, and demand for the same is also increasing.
- With the help of poultry business, it is possible to earn good money and make profit.
Thus, you can start the farming business by taking loans from the government and earning a good amount of profit.