Small businesses routinely fail in every industry segment, but what causes small farms to fail? In this episode I share 7 reasons why small farms fail, so you learn what not to do so that your farm thrives.
So, starting a business is a risky venture, right? And it doesn’t really matter what sector you start a business in.
If you start a restaurant, and insurance or law practice, a car wash or even a marketing agency, there’s a pretty high probability that you’re gonna fail.
That’s just a fact. But let’s just examine the reasons why these business fail. And actually, the agriculture sector has a much lower failure rate after 5 years than most industries.
For example, 50% or more of agriculture businesses are still going after five years, whereas only about 36% of construction businesses make it the long.
So the perception that some have that there’s a high failure rate in small farms isn’t born out by the data.
And one of the reasons that many farming businesses make it that long and go much longer is because they’re subsidized.
Not by the government. But by the farmer, who is most often working a second job so that the farm can work.
This episode will help you understand why farming businesses fail and what you can learn from those mistakes.
Listen in as I give you food for thought on how to make sure your farming business is one that will thrive!
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Credits/Resources Relevant to This Episode
- Farming for You lyrics by Tim Young
- Buy the rock classic, Stuck in the Middle With You by Stealer’s Wheel on Amazon
Thanks for listening. Until next time!
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