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Even though the federal government does not issue any general business licenses, you may need to get a permit for specific industries. Licensing for food, for example, is required for farming, fishing and alcohol sales. Transportation-related businesses may also need federal permits.

Tree farms are one of the most profitable farming business ideas in the country. There is a massive demand for fruits, but then there is also a demand for timber to be used as raw material. If you have a lot of land, you can grow various trees and sell the produce for profit.

Farm businesses account for about half of all U.S. farms, but they contribute more than 90 percent of value of production and hold most of its assets and debt. Average net cash farm income (NCFI) for farm businesses* is forecast at $87,300 for calendar year 2023, down 19.7 percent from 2022 in nominal terms.

Producers who would like to register through the Alabama Farmers Federation should contact Mobley at 1-800-392-5705, extension 421, or they can download a copy of the registration form from the Alfa Farmers Web site and return it to Mobley. p> Farmers also may request that a form be mailed to them by contacting Mobley.

For example, if you plan to grow crops that require a lot of space, such as wheat, corn, or soybeans, 5 acres may not be enough to generate a significant yield. On the other hand, if you plan to grow high-value crops like vegetables, fruits, or herbs, 5 acres could be sufficient to generate a decent income.

7 steps to starting a farm Choose what to produce. Learn everything about your product. Choose a business structure. Register your farm. Find land. Premises Identification Number. Learn about the different tax rates and programs.