In a large heavy bottomed 4 quart pot or Dutch oven, cook bacon over medium high heat. Cook for 5-8 minutes or just until bacon has rendered and browned.
Remove bacon with a slotted spoon to a paper towel lined plate or platter and chop. Add diced onion to drippings, cook for 3-4 minutes over medium high heat or until softened and beginning to brown.
Meanwhile, dissolve chicken base in water. Add to the pot with lima beans, black pepper, granulated garlic and onion powder. Mix to combine. Bring to a boil then immediately lower heat to low and simmer covered for 35-45 minutes. (Add additional water if needed to completely cover beans.)
At 35 minutes, uncover and check beans for tenderness. Cook uncovered for 5-10 minutes over medium heat or just until stock has reduced and thickened slightly. (fresh beans may take longer.)
Add chopped bacon back to the pot and serve.
Notes
Please note:
Chicken base will have ample salt for the entire dish. You can use 4 cups of chicken stock adding 1-2 teaspoons of salt in place of water and chicken base, if desired.
When covering the beans with water, the amount can vary slightly depending on the size of the pot used. Rule of thumb is, the beans should be covered with 1/2-1 inch of liquid for cooking.