Beginning Farmers Turn to Slow Money for Vital Support
According to the National Young Farmers' Association, 78% of beginning farmers say that lack of access to capital is their greatest farming challenge. A grassroots organization called Slow Money is trying to change that. Farmers can pitch their business plans to local Slow Money chapters and a variety of investors who care about local food and sustainability can opt to support them. Some of these investors are even other farmers, who would know firsthand how difficult acquiring startup capital can be.
Slow Money (like the perhaps better-known organization Slow Food) is a countercultural, grassroots approach to food systems; instead of diversifying and preserving local products, Slow Money aims to diversify and localize financial markets that invest in local, sustainable farm businesses and food enterprises.