Fish farming business is one of the most lucrative businesses you can venture into. It's also referred to as aquaculture and it's one of the most common types of farming. Fish is a healthy source of protein with a high nutritional value and it's popular around the world.
Aquaculture is the main source of seafood and has increased in demand since a lot of people are now embracing the business.
Fish farming business is the rearing of fish for commercial use or consumption. You can generate a good source of income from fish farming.
If you're a new farmer hoping to start a fish farm business or you're an existing farmer wanting to expand your business, this article will tell you all about fish farming.
Benefits of fish farming
• Huge demand
As fish is one of the major protein sources and is widely consumed on a very high scale, fish demand is very stable regardless of the season, and fishes are known to grow very fast. So investing in a fish farm business assures you of a steady income and huge patronage.
• Affordability
Fishes are known to be cheaper compared to most meat products and they sell even faster. This has made fish a top choice for consumers to afford.
• Rapid growth
Fishes grow very fast and are harvested and sold in no time.
• Low cost of start-up
Fish farms are easy to build and set up. It can be practiced along with other farming and can even be in residential areas.
Methods of fish farming
• Extensive fish farming
In extensive fish farming, labor and economic inputs are low. The type of feed employed is natural fish and fertilizers are used to increase fish production.
• Semi-Intensive fish farming
This involves more labor and feeds costs compared to extensive farming. It results in higher yields and moderate input levels also increased in fish production by use of fertilizers.
• Intensive fish farming
In this type of fish farming, a high level of input is expected and fish feed used is the supplementary feed while the natural feed plays a lesser role.
The target markets for fishes are mainly
• Hotels
• Restaurants
• Households
• Exporters
• Frozen foods wholesalers and retailers.
Some examples of fishes to consider when starting a fish farming business are;
Tilapia Fish
Tilapia fish is not expensive and it's a mild-flavored fish, it's one of the most used fishes in fish farming because it;
• Grows rapidly at warm temperatures
• Has good tolerance to poor water quality
• Feed on natural food organisms
• Has a cheap diet.
Catfish
Catfish is the most common type of fish reared in aquaculture. There's always a demand for it and it must be fed with quality feed for fast growth and large size.
Some characteristics of catfishes are;
• It can be cultivated anywhere
• It breathes fresh air from the atmosphere
• It can survive the harsh climatic condition
• It can be reared for domestic or export purposes
• It can live and grow in brackish and low oxygen water.
Factors to consider when starting a fish farming business are;
1. Registration of business
Every business requires registration so you can be safe from legal issues. Business registration is letting the government identify your business and keep your business name. Alongside getting your business registered you can get a tax advisor.
They will give you insights on taxes as an entrepreneur and it'll be easier for you to not get caught up in illegal activities.
Also, you need to obtain necessary permits to do some activities as a fish farm business owner and may be required to join associations that will help solidify your proof of genuity.
2. Location selection
Good land is important for every form of farming and it'll go a long way in fish farming. The type of pond to be used goes a long way in selection.
For earthen ponds, factors like environment, soil type, soil texture, soil composition, and flood history are considered. The land should be free of pollution and the source of water is also important. Coastal areas and the areas near rivers and streams are mostly acceptable for building fish farming businesses.
You will need to engage the services of a professional for proper work about the water system and drainage.
3. Source of water
A great water supply system is good for fishes and lack of water or bad supply of water may lead to losses especially during the dry season. Fish pond water needs to be changed at regular intervals and borehole and river water are most suitable as rainwater or tap water contain chemicals that are not good for fish farming. There are water tanks that can help to save water and serve as the means through which water is introduced into a pond when needed.
4. Fingerlings
The fingerling is the developmental stage of the fish for the first 3 to 4 months of life. After the fingerling stage, the fish develops into a juvenile. It's best that if you want to start your fish farming business you start with fingerlings or juveniles so it can save you from the loss of fishes, you can buy from reputable fish farmers who are skilled in hatching fingerlings and juveniles. Fish then becomes an adult because they can reproduce and lay eggs.
5. Fish feeds
Fish farmers must ensure that fishes are fed with high-quality and nutritional feeds that keep fishes healthy and ensure maximum production. Fish feeds are in form of granules or pellets to help them grow efficiently, they are combined with cereal grains, vitamins, minerals, and vegetable proteins.
There are natural fish feeds like detritus, planktons, bacteria, worms, and so on and also supplementary fish feeds like maize, bone powders, kitchen wastes, and so on. There is also complete fish feed that is a mixture of selected ingredients to give the right nutrients for fish growth and they can be bought for different stages of fish growth.
6. Harvesting
Fishes are harvested when they have reached marketing ages and it is done by the use of nets or draining water from a pond and it should be done when the temperature is low. Harvested fishes can be sold as fresh fish, dried fish, or smoked fish.
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