1.

0 EXECUTIVE SUMMARY
Gold Coast farm is a new sugarcane plantation farm dedicated to sustainable, profitable and
unique agricultural products. Our mission is to produce and grow quality, organic foods (green)
and vegetables to supply local industries and consumers in Ghana.
Our goals include high quality products to sell wholesale to local industries. Production methods
include new technology utilizing sustainable agriculture and best management practices. We
hope to increase production by 15% and sales by 25% in the next six years of operation. The
enterprise will acquire 10 acre farm as a start-up
1.1 Company
Gold coast farm will be owned by Elorm Asimenu with the support from Youth Enterprise
Scheme (YES) initiative in terms of financing training and mentoring. The enterprise expects to
employ five temporal employees during equipment location, four par time employees all
Ghanaian based.
1.2 Products
The enterprise would be operated on a particular crop (sugarcane) due to the upcoming of
Komenda Sugar Factory (Industry). This industry will create an opportunity for Gold Coast Farm
to start Sugarcane Plantation in order to feed the industry and consumers at large. The enterprise
will cultivate variety of crop as required by the industry. The enterprise plans to concentrate on
sugarcane plantation as its primary product. The strategy will allow the enterprise to produce
more crops in the coming years. The farm will be located near the Industry (Sugar Factory).
1.3Market
Through market research it is evident that Sugarcane Plantation began in early 1963 and the
results of the research confirmed that the country is suitable for the production of sugarcane both
geographically and climatically and has the potential to be self-sufficient in the supply of sugar.
Sugar Plantation in Ghana will limit importation of sugar in the country for sustained economic
growth. Our target market will be Komenda Sugar Factory. Over the years investors are willing
to establish sugar factory in Ghana. This will help the enterprise to double production of
sugarcane for sustainable growth of the farm.
1.4 Financial Consideration
The farm/enterprise is seeking GHC25, 000.00 in both short-term and long-term loan to finance
the purchase of farm equipments, land acquisition, start-up expenses and first year losses. It is
estimated the farm will begin to make a profit in year two of its operations. Overtime these are
expected to increase with the addition of greens and vegetable production.
2.0 INTRODUCTION/ BACKGROUND
Gold coast Farm will wholly concentrate on sugarcane plantation to feed Komenda sugar factory
(Industry)
2.1Business Overview
The land for farming will be acquired near the industry. Management of the farm will sign a
contract with the industry for supply of raw materials (Sugarcane)
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2.3 Vision and Mission

Gold coast farm is to provide unique and wholesome produce that is enjoyable and sustainable.
We work harmoniously with nature and the land to grow quality, green vegetables to supply local
industry and consumers in Ghana.
2.4 Objectives/Goals
1. Grow high quality, green and vegetable for industrial base processing and production
2. Production methods will be economically feasible as well as utilizing sustainable
agricultural and best management practices
3. Increase production by 15% and sales by 25% in next six years
4. Ensure right variety of crop is cultivated as required by our target market.
2.5 Ownership, Implementation Group and Members
Business name: Gold Coast Farm Enterprise
Type of ownership: Partnership
Business phone: 0547119772
Who is involved in the business?
Samuel Elorm Asimenu (Owner)
Employee 1 (Operation manager)
Employee 2 (Logistics Controller)
Employee 3 (Finance Controller)
Employee 4 (Operations)
Member: Youth Enterprise Scheme (YES)
3.0 START-UP SUMMARY
Total start-up expenses, including farm equipment, administration and related expenses are
shown below. Elorm Asimenu will provide some administrative services for start-up. At the same
time, the enterprise plans to receive financial and training support from Youth enterprise scheme
(YES) initiative which will help meet the cash flow requirements.

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Estimated Start-Up Requirement

CAPITAL BUDGET
ACQUISITION:
PROPERTY
FARM EQUIPMENT SYSTEM
OPERATING EXPENSES:
SALARIES
MARKETING
OTHERS
TOTAL

COST GHC
1150
3000
9000
500
11350
25000

4.0 LEGAL SITUATION

Gold Coast Farm will conform to the rules and regulations as required by Youth Enterprise
Scheme (YES) Initiative.
4.1 Conservation/ Environmental
Gold coast Farm is dedicated to environmentally sustainable management practices.
4.2 Product Situation
The farm will acquire 10acres as start-up, 9acres in crop production, 1acre for farm equipments
and conservation. Water will be supplied to the farm on regular basis. We will research varieties
and the market for new varieties and production techniques. We will use minimal inputs and
utilize our nutrients management plan to be more efficient. We will also use scouting for pest and
disease control.
4.3.0 Formulate a Farm Strategy
4.3.1 Information Gathering and Market Research
4.3.2 Market Research Tool:
4.3.3 Institutions and Government Agencies
4.3.4 Result of Market Research
1. Ghana currently spends about 500 million dollars annually to import 300,000 tonnes of
sugar
2. Demand for sugar increases by year due to growing population
3. Consumers are now conscious of patronising made in Ghana goods
4.3.5 Key Industry Trends
1. Revamping of Komenda Sugar Factory in the Central Region
2. Upcoming of sugar factories to be set-up in some parts of Ghana
3. Increasing interest in patronising local foods

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4.4 Swot Analysis

4.4.5 Strengths and Weaknesses- Evaluation of Internal Environment
4.4.5.1 Internal Strengths of a Farm Business
1. Devotion to the farm business
2. Support from YES initiative is helpful for start-up
3. Commitment to quality and success
4. Land area and capacity with good soils
5. Attend training and workshops for management and production
6. Ability to extend the growing season control disease
4.4.5.2 Internal weaknesses of the Farm Business
1. Do not own land for farming
2. Do not have farm equipment and machinery
3. Time and labour will be an issue at peak time
4. Transportation and delivery to industry will consume time and money
5. New growers entering the market
4.4.6 Threats and Opportunities Evaluation of External Environment
4.4.6.1 External Threats of Farm Business
1. Local farms are competitors
2. Income of industry and what they are willing to pay for raw materials
3. Distribution cost
4. Consumers taste and preferences vary
4.4.6.2 External opportunities of the farm business
1. Local food is growing
2. Komenda Sugar Factory and upcoming Sugar Factories to depend on Sugarcane
Plantation
3. Receive support from Sugarcane factories

4.5 Risks
1. Determining that business cannot support itself from star-up
2. The farm will not enrolled in crop insurance program.
4.5.1 Risk Reduction
1. The will receive training and support from YES initiative
2. As the farm expands to fresh market we will investigate product liability insurance
4.5.2 Assumptions
1. Timely completion of sugar factory in line with first harvest of crops (sugarcane) to
supply the industry. Therefore income for enterprise
2. Income increases annually as industry operate as farm keeps expanding.

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5.0 RESOURCES AVAILABLE

5.1 Human Resource
The enterprise will recruit 5 permanent employees as start-up for farm operation and other
relevant roles. The farm will hire additional temporal workers if need be.
5.2 Financial Resources
Fixed Assets/ Buildings
The farm will use place of residence as an administrative work or service for start-up, of business
Movable Assets
The owner of the enterprise (Elorm Asimenu) will provide his personal computer and other
office equipments for administrative work
5.3 Own Capital
Capital will be contributed by families in any way (kind or cash)
5.4 Natural Resources
Land will be available by community. The site will also be close to water supply
6.0 INSTITUTIONAL STRUCTURE
Type of Institutional Structure; Enterprise (Partnership)
Design/ Layout of Business
Management Structure
Name
Position
Elorm Asimenu
Operation/ Marketing Manager
Employee 1
Operation/ Financial Controller
Employee 2
Farm Operation Manager
Employee 3
Logistics Controller
Employee 4
Operation/ Administrative Officer

6.1 Organisational Structure

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7.0 PRODUCTION INFORMATION

Start year
Planting
1
May 2015
2
March 2016
3
March 2017

Harvesting
December 2015
November 2016
November 2017

7.1Infrastructure
Infrastructure available to the farm includes roads, water, electricity and telecommunication.
This infrastructure can influence business sustainability and profit.
7.2 Skills/ Training
Elorm Asimenu will receive training from YES Initiative prior to the business start-up. This
training will help to acquire the basic methods in farming. The enterprise will be monitored
by YES to track progressiveness of the business.
7.3 Marketing Plan
7.3.1 Marketing Mix
Gold coast farms marketing mix is comprised of these following approaches to pricing,
distribution, advertising and promotion and customer service
Pricing
Sugarcane product will be priced 75% above variable costs for wholesale to factory. The
enterprise will not intend to compete on price. Research will indicates that, we can expect a
10% premium from industry (Komenda Sugar Factory)
Distribution
Products will be supplied to our customer. The farm will also promote our local delivery of
products.
Advertising and Promotion
Focus on fresh, sustainable and local, participate in local food promotion, provide samples at
the market for new varieties, work one on one with the industry or factory to maintain
relationship and gain more interest.
Customer Service
Obsessive customer attention will be our mantra. Gold coast farms philosophy is that
whatever needs to be done as required by our industry to suit them in the processing of raw
materials. It must be implemented at the expense of short-term profit. The products will be
washed with a strategy of uniqueness and quality.
7.4 Partnerships
The farm intends to partner with individuals or communities who are willing to offer farm
land or property that can contribute positively towards the success of your business.
7.5 Legislation
The enterprise will operate and comply with the law in Ghana.

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7.6 Implementation Strategy

Production
In order to implement this business plan, gold coast farms will follow 3 year production plan
with details.
Management
Management decisions will be made by Elorm Asimenu with support from YES. Other
employees will be responsible for managing and operating farmlands. Others will focus on
production aspects including planting and harvesting.
Almost the employees will be more involved in the farm operation.
Marketing
A marketing budget will be created; we will create logo for our enterprise. In order to move
forward we will work with a local company to design and print our marketing materials. We
will also start communicating to industry players to create cordial relationship, doing followups to generate interest in products.
Human Resources
Primary labour will be provided through job advertisement. We will have access to
neighbourhood youth that we may need to hire part-time labour as the business expands.
Where needed we have the ability to custom hire major machinery
Finance / Accounting
Projected cash flow and income statements have been completed. We will meet with bank
and establish a separate farm account.

8.0 FINANCIAL PLAN

Below are the initial financial goals for the company
1. Obtain financial support from YES initiative
2. Finance growth through retained earnings

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8.1 Cash Flow

YEAR 1 GHC

YEAR 2 GHC

YEAR 3 GHC

Business income
Expenditures from operation
Cash spending
Bill payments

20,000
3,000
1,000

25,000
7,000
5,000

30,000
1,000
8,000

Others
Total

1,000
25,000

3,000
40,000

5,000
44,000

8.2 Balance Sheet

Assets
Other Current assets
Cash
Accounts Receivable
Total assets

Year 1 GHC
7,000
10,000
5,000
22,000

Year 2 GHC
9,000
15,000
7,000
31,000

8.3 Income Statement

Income statement calculated on cash basis for year 1 and year 2
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YEAR 1 GHC

YEAR 2 GHC

SALES REVENUE
LESS COST OF GOODS
SOLD
GROSS PROFIT
LESS OPERATING
EXPENSES
SELLING EXPENSES
GENERAL AND
ADMINISTRATIVE
EXPENSES
DEPRECIATING
EXPENSES(NON CASH
CHANGE)
TOTAL OPERATING
EXPENSES
OPERATING PROFIT

45,000
(11,000)

60,000
(20,000)

34,000
(24,000)

(40,000)
(28000)

(500)
(10,000)

(700)
(1,700)

0.00

0.00

10,500

30,400

(500)

9,600

LESS INTEREST
EXPENSES
NET PROFIT BEFORE
TAX
LESS TAXES
CASH FLOW FROM
OPERATIONS

600

1,000

(1,100)

8,400

1,000
(2,100)

2,500
5,900

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