LAUNCHING AN AQUACULTURE BUSINESS

Before launching an aquaculture enterprise, several factors must be taken into consideration to ensure a sustainable and successful production. A good planning from production to the marketing stage must be made for the good running of the enterprise.

There are some steps that must be followed prior to launching an aquaculture business and which is in line with the policy of the Government to promote agriculture- aquaculture business. The 10 steps are briefly explained below:

10 steps prior to launching an aquaculture enterprise

1. Conception of project and business idea:

Many people do have creative ideas but only a few of them develop them to have a successful enterprise. Before proceeding with the setting up of an enterprise, the entrepreneur must list the aim(s) of his/ her idea. Several issues must be addressed as:

a. How to produce - the raw materials, feeds, equipments, labour and skills that would be required. For an aquaculture enterprise, necessary arrangements must be made for constant and reliable supply of fingerlings. Other important aspects that need to be taken into consideration include the management of the different related activities, i.e. feeding, maintenance, stocking and harvesting.

b. Where to produce - A convenient place must be chosen which is not too far from required facilities and which would also facilitate distribution channels and lower the distance that has to be travelled from farm to processing plants, if needed.

c. What & For whom to produce - Thorough analysis of the actual market demand must be made and decide on the species to be cultured. The entrepreneur must also be aware to whom he/ she will be selling the products (Markets, supermarkets, restaurants or hotels).

2. Writing a Business Plan:
A business plan is a road map of any business which should clearly outline the aims and objectives and the all the different activities that shall be undertaken. A business plan is not only considered as a focusing tool but also as a sale/ marketing tool, which helps the entrepreneur to analyse and evaluate his project.

A business plan is also a tool to present to the banks for loans or to any investors who want to provide funds to start the business.

Click here to see  the outline of a business plan.

3. Deciding on the form of business:
You may want to be the sole proprietor of the business you are launching or you might want to be in partnership with some other people, or rather you may want to launch the business as a company.

Sole proprietorship means that the entrepreneur is the sole owner of the business and he/ she suffers any loss or otherwise takes all the profits made. Be in partnership with other people involves sharing the costs, labour and returns of the enterprise.

4.  Location:
One of the issues to address before starting with a business is where to produce. Choosing a right place means to have easy access to transport, people and any other facilities (such as water, electricity and so on). Choosing a right place will also involve having a proper building for administrative purposes, laboratories, processing center, stores among so on.

5. Registering the business:
In Mauritius, any business entity needs to be registered at the Registrar of Companies found at Port Louis. A business registration card shall be issued which helps to have many facilities from some authorities concerned such as the SMEDA, SME, DBM etc. 

Click here to have detailed information about the guidelines to register a business.

6. Get a registration card:

The business should be registered with:

Registrar of Businesses

c/o Registrar of Company

One Cathedral Square Building

Jules Koenig Street, Port-Louis

Tel: 211-4460   Fax: 208-7263

Email: rocd@intnet.mu

7. Having the relevant permits:

For an aquaculture enterprise, several permits will be needed for example permit to land use, health and safety permit, trade permit, water use permit and clearance for public utility (fire service, water and electricity). 

Furthermore, an Environmental Impact Assessment (EIA) must be carried out to predict the socio-economic and environmental consequences of the proposed business. 

8. Financing the project:
Since the cost of investment of an aquaculture business is high, you would may have to borrow some capital from the existing institutions which provide facilities for same, such as: DBM, SMI Partnership Ltd, Empowerment Funds, Commercial banks, Young Entrepreneur Trust, MPCP and leasing companies (for equipments).

9. Documentation:
This part of the job will consist of contacting persons, recruiting staffs and forming the management team.

10. Planning and organising:
Procurement, stores, cater for production or supply of fingerlings, advertising and marketing of products and any other administrative works.