If you are planning to start a business in Nigeria, one option that you may want to consider is fish farming. Like every other business, this one also requires a lot of planning, skills and knowledge before putting your money into it. In order to know more about how to start a fish farm, you’ll first need to conduct an extensive study of the fish production techniques and the expenses for the equipment needed to really make it a profitable investment.
When doing a research about your prospect fish farm, you must learn the conditions in the proposed location. In this phase, you must think about the water source in that area, the volume of water flowing from that and the water’s rate and temperature.
You need to also take into account the conduciveness of the structures around the fish farm and other natural resources available within the area. Then, your next consideration should be how to market your fishes.
If all these factors have been considered and you decide to start the fish farming business, the next thing in your list on how to start a fish farm is usually to register it as a sole proprietorship, partnership or a corporation. One of the process is obtaining a business license that involves operating permit and other law in starting a business in Nigeria.
After dealing with the business conditions of the fish farm and complying with the law in starting it, you need to focus around the financial aspect on how to start a fish farm. Also, you need to conduct a financial analysis on the possibilities and expected expenses in operating the business enterprise, as well as the sources of the funds you’ll use for it.
The important part of planning how to start a fish farm in Nigeria is choosing what fishes to grow on your farm. The best fish production to think about include tilapia, salmon, bluegill, minnow and many other species. In case you have already determined the fishes to grow in your fish farms, it’s time for you to start building a fish home.
The surroundings that you’ll need to build depend on the kind of fish you’re looking at growing. After the fish habitat is made, constructing a fish system should follow. If you wish to breed the fish, it’s required to allocate an area in your farm for your breeding pond.
Building a good fish system means having a good system for keeping water clean as well. This fish system needs to be implemented efficiently so that you can continue using, monitoring and breeding the fishes.
Once the fishes have grown, you can now decide if you should sell or breed them. If you decide to sell them, you should have also planned from the beginning how you can transport the fishes to your buyers.
Furthermore, to become a successful and profitable fish farmer, you have to be a proactive farmer too. What this means is that you must know the threats and potential hazards to your fishes, and your farm. The threats you must check for should be the snakes, turtles, and cats.
To ensure the success and profitability of one’s fish farm, you must consider how you can manage the possible issues that may arise to prevent them before they pose injury to your fish farming business – like irregular way to supply water, building up of organic matter, leakage or breakage from the pond wall, the predators, and fish diseases.
If you’re interested in knowing why fish farming business fail in Nigeria, here is an article on 16 most misunderstood facts about fish farming in Nigeria. Also, in this article, is a beginner’s guide on how to start fishing farming in Nigeria. Good luck with your fish farming venture.