TeachMeFinance.com - explain Small farm
Small farm The term 'Small farm ' as it applies to the area of agriculture can be defined as ' Although there is no official, widely accepted definition of a small farm, the Small Farms Commission described it, for purposes of its 1997 study, as one with less than $250,000 in gross receipts annually on which day-to-day labor and management are provided by the farmer and/or the farm family that owns the production, or owns or leases the productive assets. In 1995, such farms accounted for 93% of the more than 2 million U.S. farms, but only 40% of U.S. farm production. The long-term decline in the number of small farms, and the subsequent concentration of production on fewer and larger operations, is a longstanding concern among some segments of the agricultural community, while others view these changes as inevitable, and even necessary to maintain the efficiency and competitiveness of the sector'.
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