Explanation should include the

• benefits
• independence
• personal satisfaction
• creativity
• financial freedom
• job security
• challenges
• market-related risk
• access to finance and credit
• low bargaining power
• access to information
• vulnerability to economic shocks
• access to training

and evaluating how entrepreneurs mitigate these challenges through planning and innovation.

Process/Skill Questions:

• What would be some of the disadvantages of owning a business?
• Why should one research the market carefully before buying or opening an agricultural business?
• What strengths, weaknesses, opportunities, and threats (SWOT) come with owning one’s own agricultural business?