Resources Database

Kelp offers a promising way for fishermen to diversify their income streams in the lobster offseason, and it's also the newest seafood product GMRI verified under their Gulf of Maine Responsibly Harvested® label. The Gulf of Maine Responsibly Harvested® label is a promise that seafood hails from the clean, cool waters of the Gulf of Maine and the fishery or farm is managed in a way that contributes to the long-term health of the resource. The label empowers consumers to buy seafood they can feel good about.

General overview about kelp farms, kelp markets, and kelp food options.

Matt Parker, aquaculture business specialist, presents basic business concepts such as writing a business plan, developing pro forma statements, costs associated production, and record keeping to determine the costs of production.

Aquaculture risk management fact sheet covering the types of risks aquaculturists deal with and how to manage these risks include both insurance and non-insurance options.

Reviews the keys to running a successful business; the four P's of marketing, wholesale distributors, risks, and sales.

Provides advising and financing to fisheries and aquaculture businesses to improve their long-term viability, create and maintain quality jobs, safeguard marine-related infrastructure and environments, and help preserve the cultural integrity of Maine’s working waterfront.

Reviews the different types of disaster insurance that would cover hurricanes and typhoons, oil spills, harmful algal blooms, and other types of disasters, both natural and manmade, that cause a aquaculture farm to be harmed or fail.

A study to provide an up-to-date and accurate annual statewide economic contribution of Maine’s aquaculture industry and determine aquaculture business owner and farm demographics.

The Maine Aquaculture Financing Resources Manual, developed by MAA Project Manager Christian Brayden with support from FocusMaine, is an in-depth summary of all known financing resources available to Maine aquaculture producers.

A brief introduction to current commercial production species, potential commercial species, and experimental species including the hard clam (quahog), eastern oyster, blue mussel, softshell clam, macroalgae, bay scallop, European oyster, surf clam, sea scallop, and more.

The business plan features include short & long-term budget projections & tracking, financial projection and analysis tools, monthly cash flow projections, costs of production analysis, profitability analysis, sensitivity analysis, and breakeven analysis. The production plan offers short & long-term production projections & tracking data-based growth projections, monthly sales planning & tracking, and a production calendar. If you are interested in setting up a business plan, please reach out to Christian at [email protected].

These risk management tools are designed to help Maine aquaculture producers find new ways to identify and respond to risk on their farms and in their businesses. The tools include information and visuals to help farmers identify risk factors and risk management within each of the five categories of risk as well as aquaculture crop insurance options currently available.

Intended to help prospective farmers to identify, record, monitor, and manage production hazards, and ultimately minimize production-related risk. Discusses types of risk in aquaculture, record keeping, environmental conditions, biofouling organisms, predators, diseases, parasites, invasive species, and operational procedures.

Dr. Carole Engle, a specialist in aquaculture economics, discusses cash-flow for aquaculture businesses, how to maintain a positive cash-flow position, and common pitfalls in developing a cash-flow budgeting.

Dr. Carole Engle, a specialist in aquaculture economics, gives an overview on how to survive during cash deficits using short-term cash management plans and determining how much debt is too much to take on by calculating the debt to asset ratio.

Reviews business management skills, such as finance, record keeping, marketing, and personnel management. More aquaculture businesses fail because of poor management than poor production practices.

Developed to describe all Federal programs and activities that directly or indirectly encourage, support, or assist U.S. aquaculture.

Maine Aquaculture Innovation Center has limited funds to support innovative research that will help advance the Maine aquaculture industry and also lists Maine funding opportunities.

This grant guide was prepared by the National Oceanic and Atmospheric Administration (NOAA) in consultation with the Subcommittee on Aquaculture (SCA) under the National Science and Technology Council (NSTC). This guide focuses only on grant programs that aquaculture farmers or aquaculture researchers may be eligible for. Updates will include Federal cooperative agreements, contracts, loans, or other direct support programs for aquaculture farmers or (non-federal) aquaculture researchers, for the purpose of aquaculture siting, research, development, and operations.

Dr. Carole Engle, a specialist in aquaculture economics, discusses growing your aquaculture businesses: whether should you expand or diversify and what conditions should you consider doing so. This will help you determine if is it the right time to expand your business, increase production, or move into new markets.

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, there are some key questions that the manager of an aquaculture business must answer affirmatively to be successful. Determining the answers requires careful, thorough, and comprehensive analysis. This publication, written by Dr. Carole Engle, a specialist in aquaculture economics, outlines the types of analyses and financial statements required to answer these critical questions.

This report is based on the research priorities survey conducted in June 2019 of Maine’s aquaculture community and is compared with surveys from 2012 and 2016 to look at trends. There have been some changes in the prioritization of needs since 2016, but many of the same research, development, and education (R&D&E) needs persist and remain unaddressed. As expected, there are different R&D&E priorities for different aquaculture sectors.

A critical long-term decision aquaculturists must make is to determine whether the business can generate enough value over time to pay off its debts. The appropriate financial statement for doing this is the balance sheet. The balance sheet is divided into two main categories: assets and liabilities. The balance sheet is structured by dividing assets and liabilities into one of two time periods: current and noncurrent. This publication, written by Dr. Carole Engle, a specialist in aquaculture economics, will help you identify the financial strengths and weaknesses of your business using balance sheets.