Farms that diversify business activity earn more money
This chart shows the total income of farms that have diversified and those that have no diversified activities.
Around 350 farms have been providing us with their data over the last five years. This allows us to see changes in their diversified activity that generates income.
55% - Farms with diversified activity
More than half of farms have diversified activities that use farm resources to generate additional incomes to their businesses. Farms with no diversified activity on average generated £21,300 less income per annum.
Diversified activity is becoming more important. The income gap between farms with diversified activities and those without has increased over the last five years.
The most common diversified activity continues to be renting out farm buildings. Other common profitable activities that farmers are doing include micro electricity generation, wind turbines, hosting mobile telephone masts and holiday cottages.