Manage Your Business

wheelhouse

Costs and your bottom line

Once you have your fishing business off the ground, determining how your costs are measuring up against your income becomes a top priority. Alaska Sea Grant has developed a tool specifically for Alaska fishermen to help do this.

Learn how to track your costs

 

Financial statements

Effective management of a commercial fishing business is based on complete annual data (expenses, income, taxes), a record-keeping system, and accurate accounting and financial statements. Once these are in place, you have a snapshot of your business financial status, and you can more effectively tackle more complex business decisions, on your own or with other professionals.

Improve your financial statements

Fish ticket manager

Fish tickets are a primary source of financial and management data for your operation. Transferring ticket information to a spreadsheet helps track relative poundage of different species, sets the stage for other data such as crew shares, and serves as a cross-check for processor year-end statements.

Learn more about fish tickets

Risk management

Risk management means assessing and preparing for events that could compromise the profitability or viability of your business. Risk management has two components: preventing bad things from happening, and mitigating or recovering from the results if something does happen.

Learn more about managing risk

Lowering fuel costs

Fuel costs are often a significant part of operation overhead, depending on the fishery and equipment needs. Understanding ways to lower fuel consumption can be as effective as installing a new engine. Alaska Sea Grant has created publications about fuel efficiency and other energy systems on your vessel.

Learn how to save fuel