NRAC# 150, Business Planning For Aquaculture

NRAC# 150

Business Planning For Aquaculture - Is It Feasible?

Dan B. Strombom and Stewart M. Tweed

Opening Paragraph:
You have read newspaper or magazine articles persuasively claim that aquaculture has a bright future. The technology, growth process, challenges and potential rewards are exciting. At the same time, however, remember that aquaculture is a demanding and relatively risky business. So, before you take one more step, sign the Aquaculture Business Planning Pledge:

I solemnly swear to assess thoroughly and honestly the complete organization of my aquaculture enterprise and write it down as a business plan. __________________________________________ (Signature, Date)

Inadequate preparation of a business plan will hurt in two very fundamental ways. First, starting in aquaculture without a good business plan will result in mistakes which could have been anticipated and solved on paper. A written business plan exposes thoughts, assumptions and research findings to reason. Can it really work? What resources do I need now and in the future? Only by writing down the answers to these and other questions can you minimize the risks.

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