PIT FALL AND HONEY TRAPS IN AQUACULTURE FARM MANAGEMENT

Aquaculture is a management-intensive business with enterprise success often solely relying upon the on-farm management strategies. High level of investment in facilities and equipments and high operating capital requirements often demand competent managers/owners who is well versed to changing economic, market and regulatory conditions. This presentations is intended to drawn the attention of aquaculture managers/owners and potential entrepreneurs to critical management areas of business planning, production strategies, economic feasibility, and technology choices affecting aquaculture business. Common miscalculations leading to overestimation of profits and long term profitability are addressed. Several luring aquaculture ventures, products, and technologies that targets investors without providing all the associated latent costs prove costly to entrepreneurs. Managers should take extra precautions to follow scientifically proven technologies and practices before relying on "snake-oil research and results" provided without enough scientific backing. Sound business planning and reliable extension supports are becoming increasing key for improving farm efficiencies.