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Setting up a fish farm involves high initial investment and high production costs as well as economic risks. Therefore, there are some very important factors a prospective fish farmer should consider before embarking on a fish farming venture . For example:
1 .Gathering information
Future fish farmers can often get assistance with starting up a fish farming enterprise in the form of technical advice from extension services. In some cases even financial support is provided.
2. Finance
A cost estimate should include the cost of land as well as capital expenditures for fish stock, pond construction, labour, production and harvesting.
3. Site
The soil must be able to retain water. Good water quality and sufficient quantity should be available at a reasonable cost. The site should be close to home and potential losses from stealing should be estimated. The ownership of the land, as well as the state or federal permits required, should be known and obtained. The site and roads should be passable and not subject to flooding.
4. Fish stock
You need to decide whether to breed your own fish stock or purchase it from others. If you plan to buy from others you must have a reliable source of good quality fish stock. If you choose to breed on-site, then you must have adequate space for maintenance of brood stock and production of young fish.
5. Production
Will the feed available for the selected fish species match this species preferences?
6. Harvesting
Enough people should be available to harvest the fish. Find out what is the most economical method for harvesting. You may need storage facilities for harvested fish.
7. Consumption
Will the fish be used for your own consumption or for selling?
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