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by giraffe_lady
1289 days ago
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Believe it or not governments have a pretty strong interest in knowing this sort of thing so the data is certainly there! It's been a while since I looked at it and it depends on what you consider a "small farm" to be. But when I last checked a few years ago, farms employing little or no outside laborers were a small minority. And more significantly here, those households were both above median household income and half or more of their income came from outside-the-farm sources. You can twiddle with it if you want but to me that seems like a pretty reasonable definition of "hobby farming." Which is not a value judgement per se. Not being strictly dependent on farm income allows these farmers to pursue traditional or sustainability-focused practices that may not be economically viable otherwise. But just be clear-eyed about it. The ideal of the small, self-sufficient, productive and profitable family farm is just that, an ideal and to a large extent a myth. In a very serious way it's not how things ever worked and, maybe unfortunately maybe not, it's not how they're going to now either. |
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Depends on your debt load. My small farm is now sufficiently profitable with most of its debts paid off. If you are carrying massive debt like many farmers you need to grow bigger and bigger just to eke out a small margin as most of the potential profits are handed away to creditors.
It also depends on what you want. Often farmers purposefully drown themselves in debt in order to have amassed extensive wealth later in life. They could keep a tidy "mom and pop" business but want more. It's a question not unlike that faced in tech: Do you aim for nice little business that keeps you comfortable or try to blow up to be the next FAANG?
The profitable small farm is common enough, particular among the older generations who have their debts paid off, but, of course, those who remain small are much less visible. The casual onlooker only notices the big farmers with the big equipment, big buildings, and big acres. That no doubt skews perceptions.