Jordan Siemens, owner of Siemens Farms and full-time student at Providence College, has been named a 2011 Student Entrepreneur Manitoba Champion.
Started in 2010, Mr. Siemens has owned and operated Siemens Farms, a start-up farming business focused on soybean production based in Horndean, Manitoba. A fourth generation farmer, he started his business this past summer by renting land and equipment from his father as well as purchasing seed, fertilizer, insurance, chemical, and labour.
Due to the large capital requirements needed to start a production of this nature, this savvy student entrepreneur was able to start his career by sharing in the risk and reward of grain production, something that would have been impossible to do on his own. He was able to make all decisions regarding field work and completed his first season with 50 acres of soybeans planted.
Mr. Siemens’ largest business accomplishments to date include earning profits in excess of his expectations in his first season of farming. Initially, he was expecting a 10 per cent profit, but with good weather, increasing commodity prices and sound management, Mr. Siemens managed to exceed his profit projections by 600 per cent.
(This article has been corrected from an earlier version.)
Mr. Siemens took your questions in a live discussion. Find a mobile-friendly version here.