Economic Sustainability and Multiple Risk Management Strategies: Examining Interlinked Decisions of Small American Farms

Adhikari, Sudip; Khanal, Aditya R.

doi:10.3390/su13041741

Cited by 8 publications

(9 citation statements)

References 39 publications

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“…In the face of digital agriculture and social media use for promotion, and to get and send information quickly, smartphones have been used in farm related businesses. Recent previous studies have included smartphone use in farm management and related decision models (Quandt et al 2020; Michels et al 2020; Adhikari and Khanal 2021). We found that a significantly higher number of diversified farms use smartphones in their farm-related activities and businesses as compared to specialized farms—around 85% of crop/livestock diversified farms and 89% of alternative on-farm enterprises adopter farms in our sample used smartphones in farm-related activities as compared to 62% specialized farms.…”

Section: Resultsmentioning

confidence: 99%

The financial implications of specialization, diversification, or alternative enterprises on small farms: Evidence from Tennessee

Khanal

Ojha

2023

Agric. Resour. Econom. Rev.

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In response to survival challenges, small farms in the United States undertake decisions to minimize downside risk or maximize gross revenue. Using primary survey data of small farms in Tennessee, we examined farmers’ strategic decisions on specialization or other forms of diversification and estimated the impacts of these decisions on farm financial performance. We found that farmer’s age, farmland holdings, use of a smartphone in farm-related activities, and off-farm work significantly influenced these strategic decisions. Our multinomial endogenous switching regression estimates suggested that small farms could attain significantly higher performance, around 45% higher gross farm income and a 30% higher return on assets, by adding alternative on-farm enterprises.

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Section: Resultsmentioning

confidence: 99%

The financial implications of specialization, diversification, or alternative enterprises on small farms: Evidence from Tennessee

Khanal

Ojha

2023

Agric. Resour. Econom. Rev.

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“…As diversifying the income of a farm can provide financial stability to the small farm operation [17], farm operators are interested in income diversification tools for risk management. Farm operators have an interest in multiple risk management strategies [44], and perhaps they choose strategies such as agritourism to provide sustainability to the performance of their farms.…”

Section: Model Estimation Results For Factors Influencing Agritourism...mentioning

confidence: 99%

Agritourism as an Alternative On-Farm Enterprise for Small U.S. Farms: Examining Factors Influencing the Agritourism Decisions of Small Farms

2022

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This study examines the adoption of agritourism by small farms in the U.S. Using primary survey data collected from small farms in Tennessee in 2020, we assessed adopter characteristics and investigated the factors influencing the farmers’ decision to adopt or add agritourism-related activities, including recreational, educational, and touristic attractions in the farm. We found that factors such as social media marketing, smartphone use in farm activities, and having farm insurance significantly increased the likelihood of agritourism adoption in addition to other demographic factors. Additionally, we found that a farmer’s perceived survival risk positively influences small farms to adopt agritourism. Small farms with survival challenges in the U.S. could consider agritourism as an enterprise to enhance their economic sustainability by utilizing touristic aspects of farming, rural landscape, and agriculture.

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“…Smaller farms tend to rely more on off-farm income than larger farms and derive more than half of their total household income from off-farm revenue [25]. Further, their farms' operating profit margins are less than 10%, posing high financial risks [26]. They are expected to compete with the industrialized agri-food systems and comply with the norms of the capitalistic systems for accessing resources, markets, and rewards [27,28].…”

Section: Small-scale and Beginning Farmers In The United Statesmentioning

confidence: 99%

Agroecological Transition: A Territorial Examination of the Simultaneity of Limited Farmer Livelihoods and Food Insecurity

et al. 2022

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Nutritional disease, persistent food insecurity, ecological devastation, and limited sustainable livelihoods among small and beginning (SB) farmers coexist as unintended consequences of trying to address these challenges separately. Agroecology is useful for holistically understanding a community’s food system dynamics, identifying regime lock-ins, and developing pathways to transition to a sustainable food system. Focusing on two often divergent publics, SB farmers and food-insecure populations, this research answers the questions: What critical agroecological characteristics are lacking in a food system contributing to both limited livelihoods of SB farmers and food-insecure populations? In what ways might the relationships of these two publics be central to an agroecological transition to a regional sustainable food system? We present a case study for the city-region Duluth-Northland, Minnesota, USA, by combining methodological and theoretical insights from participatory action research, agroecology, and sustainability transitions literature. Results include a current state of regional food flows, illuminate the food system’s enabling and inhibitory factors, and highlight opportunities for exercising local agency to transition to a sustainable food system using agroecological principles. This research suggests developing relational spaces where two typically divergent publics can dialogue and build reciprocal relationships to construct new food pathways. Findings also highlight a need to develop a social infrastructure to support SB farmer livelihoods, recognize their contribution to the public good, and simultaneously address multiple dimensions of food insecurity. This study provides preliminary guidance for mobilizing action at the nexus of health and food access, environment, and regenerative agriculture livelihoods.

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Economic Sustainability and Multiple Risk Management Strategies: Examining Interlinked Decisions of Small American Farms

Cited by 8 publications

References 39 publications

The financial implications of specialization, diversification, or alternative enterprises on small farms: Evidence from Tennessee

The financial implications of specialization, diversification, or alternative enterprises on small farms: Evidence from Tennessee

Agritourism as an Alternative On-Farm Enterprise for Small U.S. Farms: Examining Factors Influencing the Agritourism Decisions of Small Farms

Agroecological Transition: A Territorial Examination of the Simultaneity of Limited Farmer Livelihoods and Food Insecurity

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