Shivani Singh¹*, Manisha Saini² and Prachi³

¹PhD, Department of Business Management, Dr. Yashwant Singh Parmar University of Horticulture and Forestry Nauni, Solan, H.P, India
²PhD, Department of Plant Pathology, Dr. Yashwant Singh Parmar University of Horticulture and Forestry Nauni, Solan, H.P, India
³Msc, Department of Agronomy, Dolphine (Pg) College of Life Sciences and Agriculture, Punjab, India

*Corresponding Author: Shivani Singh, PhD, Department of Business Management, Dr. Yashwant Singh Parmar University of Horticulture and Forestry Nauni, Solan, H.P, India.

Received: January 05, 2024; Published: January 23, 2024

Abstract

Specialty crops are new and emerging crops that include many vegetables and fruit. These crops are becoming increasingly important relative to other categories of agricultural production globally. However, these crops carry a higher risk yet because they yield a greater payoff than conventional crops. The introduction of specialty crops has several inherited benefits which include economic benefits to farmers in several ways, such as crop diversification with value-added crops, improved resilience to climate variability, maintaining yields with fewer resources, and increased crop resistance to pests and diseases. Moreover, growing and selling specialty crops or developing value-added products can bring out new customers and potentially increase revenues for a farm business. Obtaining and retaining customers and learning how to best in market niche agricultural products is the key to apprehending that extra money. Understanding consumer preferences or creating a market for a novel product, while profitably satisfying a demographic need is essential for successfully marketing a specialty crop. However, there are many challenges associated with the introduction and establishment of a new crop or new business which include lack of information for the entrepreneur, cultural practice and marketing as well as policy and institutional barriers. An entrepreneur may face the risk of poor economic returns and their business may rest to fail if proper management and marketing information is not available. While considering a specialty crop and initiating a marketing strategy it is important to fully educate the industry partners to ensure successful market development. Hopefully, entrepreneurial development will keep up as specialty crops with developed initiatives and provide more income and also promote the expansion of the alternative specialty crop market, significant research and extension initiatives are required in addition to close collaborations between the government, academic institutions, and industry.

Keywords: Specialty Crops; New Business; Developed Initiatives; Institutional Barriers

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Citation

Citation: Shivani Singh., et al. “Entrepreneurship Development in Specialty Agriculture: Opportunities and Scope". Acta Scientific Agriculture 8.2 (2024): 72-81.

Copyright

Copyright: © 2024 Shivani Singh., et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.