How to Get into Aquaculture

The fact that aquaculture is a business is often forgotten. The ability to turn a good idea into a successful business requires adequate analysis and investigation of the technical and financial feasibility before substantial investments are made.

Decisions on investment into aquaculture need to be made on the basis of business fundamentals, as such, potential aquaculturists needs to give serious consideration to:

• the fact that aquaculture is a business enterprise.
• the need to have a clear understanding of the market, both in terms of demand and quality requirements and market barriers.
• ensuring that the technology of the farming system is reliable. If new or untried technology is to be adopted then a full understanding of the business risks need to be identified.
• an understanding that aquaculture species are living animals or plants with special requirements, such as specific water quality requirements.
• the level of capital and operating funds required before a positive cash flow is reached.

Sources of information

"In the fish farming business, only the best prepared can survive. Every decision must be made after thoughtful consideration, but all too often impatience and the prospect of a ‘quick buck’ makes even the most level head lose sight of the end goal - survival"

- John Dalimore

Aquaculture can be a good business option, but like all businesses has an element of risk which needs to be understood, evaluated and managed. It is critical to realistically evaluate the prospects of a good financial return and the feasibility of the operation.

In order to prevent some of the pitfalls, any intending farmer should seek a wide range of advice. Excellent sources of information include:

• industry associations, which run workshops, field days and information sessions for new and prospective aquaculturists.
• The Department of Fisheries which can provide licensing information and basic biological information kits on currently farmed species. In addition the Department of Fisheries library holds a good collection of texts and papers suited for both beginners and advanced operators.
• the Small Business Development Corporation which can assist in the development of your business concept.