Small farms in North Carolina, United States: Analyzing farm and operator characteristics in the pursuit of economic resilience and sustainability

Ensuring the sustainability of small farms relies on understanding farm economics, a crucial yet often overlooked aspect. In North Carolina, many small farms are confronted with financial challenges and the risk of collapse. This study examines the factors that influence farm profitability while considering the intersectionality of race and gender. The findings reveal significant disparities in farm and operator characteristics. Specifically, first‐generation and retiree farmers exhibit a lower likelihood of profitability. Conversely, factors positively associated with profitability include owning larger farm acreage, engaging in commercial agricultural production, utilizing paid family labor, practicing full‐time farming, and being a non‐White minority farmer. To foster the sustainability of small farms, it is imperative to implement policies that support full‐time farming and incentivize the use of paid family labor. These measures can contribute to bolstering profitability and safeguarding the economic viability of small farms.