Information on the average farm business income and net farm income in England, since 1997 is shown in the table.
March to February each year Average farm business income (per farm) Average net farm income (per farm) 1997-98 n/a 15,200 1998-99 n/a 11,500 1999-2000 n/a 8,700 2000-01 n/a 10,600 2001-02 n/a 14,900 2002-03 n/a 16,600 2003-04 36,800 29,500 2004-05 28,300 21,200 2005-06 28,600 21,100 2006-07 34,400 26,700 2007-08 48,100 38,600 Note: 1. Farm business income is the headline measure of the profitability of farm businesses. It represents the financial return to all unpaid labour (farmers and spouses, non-principal partners and directors and their spouses and family workers) and on all their capital invested in the farm business, including land and buildings. It is not available for years before 2003-04 given the way that data were recorded in earlier years. Source: Farm Business Survey1 1 The FBS sample covers businesses with a Standard Labour Requirement (SLR) of at least 0.5, i.e. a size considered sufficient to occupy a farmer for at least half their time.
Net farm income is defined as the return to the principal farmer and spouse for their manual and managerial labour and on the tenant type capital of the business. It is net of an imputed rental charge on owned land and an imputed charge for other unpaid labour.