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Essay On Aquaculture Business

1740 Words7 Pages

AQUACULTURE FINANCE

INTRODUCTION

Aquaculture business, like any other serious business concern, is capital intensive irrespective of the size of the farm. Adequate capital is required to meet cost of land, be it outright purchase or lease, construction of production facilities such as earthen ponds and concrete tanks, electricity, storage room for equipment and feed, sales section and source of water supply. Also adequate capital is required for production to take care of the variable costs such as fingerlings, feed and marketing as effective production plan can reduce the fixed cost aspect thereof. The essence of setting up a business is to create a need, satisfy that need and ultimately make profit for the future of the business hence …show more content…

In doing that, the business to be financed is analyzed to ascertain whether it falls within the loan criteria of the bank; if it does, what about the capacity to meet financial obligations when they fall due? Adequacy of the collateral provided for the loan, the character of the persons behind the business, etc. Financial statements are key tools that tell the financial state of the company now and its likely state in the future with the loan …show more content…

The aquaculture industry in the Nigeria is one of the fastest growing segments of the agricultural sector. The growth potential for the aquaculture market is building up fast as there is general awareness the benefit of fish consumption. The demand for fish is increasing due to the over exploitation of the natural resources from the wild and the health consciousness of Nigerians. Furthermore, the deliberate efforts of the Federal Government aimed at encouraging local production and reducing the quantity of importation is a boost to the

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