Posts Tagged ‘fishbiz’

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 your fishing business is running, determining how your costs are measuring up against your income becomes a top priority. Alaska Sea Grant has developed a tool to help Alaska fishermen with this.

Lowering expenses, managing risk, tracking income, structuring options for fishing businesses and more are covered in this section.

Alaska Sea Grant has created an annual financial checklist for “putting away” your business at the end of the season.

With your homework done, you’re now ready to take the plunge into ownership of a fishing business.

Once you have solid information about the value of the fishery, potential earnings, and realistically estimated costs, you are ready to look for financing to get this fishing business in the water.

“Pencil out” your proposed operating and start up costs against different income projections.

The price of the permit is only one indicator of the value of the fishery – many factors influence the cyclical rise or fall in permit values.

Browse through the variety of commercial fisheries in Alaska to get an idea of options available to you.

This section provides tools for beginning fishermen venturing into a fishing business.