Farm Table says:
This report from AgriFutures (formerly RIRDC) reviews Australian and international farm diversification literature and pertinent issues. It studies 25 Victorian farming families who have diversified their farm enterprises.
Some advantages of diversification include:
- spreading risk
- increasing interest in the farm
- learning new skills
- developing an understanding of where personal strengths lie
- being a part of new networks.
- increased workloads with subsequent less ‘free’ time
- difficulties associated with marketing and distribution of the new product and unfamiliarity with the new supply chain.