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Careful financial management is essential for the success of an aquaculture business. While financial management is a complex topic that can be approached from many perspectives, some of the key questions that the manager of an aquaculture business must answer are:
1. Will the business survive in the long run? Can it generate enough value over time to pay off its debts? (Economists call this “financial position.”)
2. Is the business profitable in both the short and long run? (Economists call this “profitability.”)
3. Can the business generate enough cash when needed to pay its bills? (Economists call this “liquidity” and “cash flow position.”)
The business must be able to respond affirmatively to these questions to be successful, but determining the answers requires careful, thorough and comprehensive analysis.
-SRAC Publication No. 4400, Introduction to Financial Management of Aquaculture Businesses