We are fish farmers but firstly we are in business to make a profit. If we fail to focus on the business aspects we can quickly find that cash flow is compromised leading to all sorts of inefficiencies and problems.
However, there could be even greater risks to your business than cash flow malaise, greater in the sense that they could cripple or even close down your operation quickly if not identified and appropriately controlled or at least their potential impacts minimised.
It is therefore vital that we identify the potential risks, rank them in terms of both likelihood and severity, and then find mitigations to reduce the potential of their impact.
One of the most obvious risks to a fish farmer in power failure, especially if you operate a recirculating system. Without power the dissolved oxygen level quickly plummets to a dangerously low concentration and after only a few minutes fish mortality can result with more sensitive species such as trout.
The likelihood of this happening is 100%, the frequency may be low but the severity is also 100%, so it is vital that you have a reliable backup power supply. It may be that you further believe that the 50t trout stock on your farm justifies more contingency than a generator for the event when the generator fails, so you could install oxygen bottles as a final fail safe.
Mortalities can quickly result from power failures necessitating the installation of backup power
If this logic is applied to the full range of risks that could face your business it assists one in identifying what the risks are, how serious each is and where the mitigations need to be prioritised. These risks can be further grouped into the categories below to simplify their further identification:
Physical – water supply, fire, road access, tank collapse
Personal – skills levels, industrial action, work ethic, criminality, injury
Markets – changing demand patterns, increased traceability, competitors, competing products
Compliance – changing legislation, legislation you were unaware of, staff compliance
Production – not meeting production targets, exceeding input targets, disease, feed quality & supply
Financial – credit checking and control, shrinkage, exchange rate fluctuation
Risks that are not addressed can have a terrible effect on a business. It is well worth identifying the risks that you face in advance and planning for them – forewarned is forearmed!
We have scheduled the following Aquaculture Courses planned for 2018: 12 to 16 November Practical Aquaculture Course, Aquaculture Academy, Grahamstown – This is an excellent opportunity to obtain both the theory of fish farming as well as practical experience in spawning tilapia and catfish, feeding correctly, managing water quality, sorting fish, aquaponics plant care and many other related skills.
19 to 22 November Aquaculture & Aquaponics Course, Lusaka, Zambia
To obtain further information email us on firstname.lastname@example.org.
Catfish, Trout & Tilapia Fingerlings for Sale
We have catfish, trout and tilapia for sale. Send us an email if you are interested in obtaining stock.
This year we have a limited number of female O. mossambicus for sale as breeders
Aquaculture Products for Sale
We offer a wide range of products to the Aquaculture Industry.
These products can be viewed and purchased from our secure online store at Aquaculture Store.
If you need anything that is not listed, drop me an email and I will attempt to source it for you.