How to Start a Fish Hatchery

How to Start a Fish Hatchery

There are several types of fish hatchery businesses. Fish are raised for hobby, food and ornamental reasons. Many people have great success from their fish farms. However, beginning a business like this one can be a big risk. Before starting an aquatic business venture, it is important to learn all that you can about how to start a fish hatchery.

1

Choose a purpose for your fish hatchery. Why are you beginning the business?

·         Will you raise fish for food, hobby or ornamental purposes?

·         Are you planning the fish hatchery as your main source of income, extra income or as a hobby?

2

Gain knowledge about fish farming. Learn all you can about owning a fish hatchery. This will help you make educated decisions when beginning your business.

·         Consider taking college courses or participating in programs related to fish farming.

·         Visit various fish hatcheries and interview their owners and workers. Also check out fish hatchery web sites.

·         Take on a part-time job working at a fish hatchery. Hands-on experience is best. If you cannot find a job, ask a few fish farm owners to let you come and help out for a few days.

·         Online learning, books and manuals are also good options for learning more about fish farming.

3

Determine if you have the proper location to establish a successful fish farm.

·         What type of water source do you have on the land where you plan to farm? What types of fish would best thrive in the water?

·         What are the weather conditions in the area? Is the land prone to flooding?

·         Are there any buildings? How much construction will have to take place to begin the business? Do you need any special permits to begin the business?

·         Do you have room if expansion is needed? Is there enough room to house and transport the fish?

4

Analyze the outlook for the business.

·         Do you have a buyer for the fish? What type of market is out there for the fish you plan to harvest?

·         Have you talked with any industry representatives? What type of fish is the best option for starting your business?

·         Have you contacted people to assist you on special issues that arise?

5

Discover how much money is need to start your business. How much money do you need to begin digging ponds and buying your initial fish to stock them?

·         Analyze your savings, investments and assets.

·         Consider trying to obtain a small business loan.

·         Do you have a finical plan in place and is it realistic?

·         What type of cash flow are you expecting?

6

Contact the appropriate people to get the business started.

·         Construction and equipment needs will need to be taken care of first.

·         Find a seller for your initial stocking to begin the fish farm.

Sourcing Process, Raw Materials, Machineries and Equipments

Sourcing Process, Raw Materials, Machineries and Equipments

Once the firm has decided on the foremost issues of which product it wants to produce and the location of the industry, the next important step is to select appropriate technology and equipment to produce the same. In addition to this, the source of raw material has to be decided upon. The requirements of all these can either be met through domestic sources or can be imported subject to the regulatory requirements of the Government. The regulatory requirements pertaining to the import procedures vary depending on the item of import. In case of raw materials, the Export Import Policy of the Government regulates imports. However, in the case of technology, the Foreign Direct Investment (FDI) Policy and the Foreign Technology Transfer Agreements govern the imports. The firm should do a careful cost and benefit analysis before going ahead with the process of placing the orders to minimize the production costs and hence increasing the profit margins. Various sources of Capital should be explored and the cost of capital should be analysed cautiously. Process Selection Once the choice of the product is made, selection of the right process technology becomes important. The process technology required may be :- Indigenously developed:- In India, technologies are being developed at CSIRand Defence Research Labs. There are some intermediaries like APCTT (Asian and Pacific Centre for Transfer of Technology), TBSE( Technology Bureau for Small Enterprises) which can help you to locate the relevant technologies. Besides there are some In-house R & D centres of companies which develop technologies and sell them to interested parties. Indigenously developed process know-how has intrinsic benefits like appropriateness, relative inexpensiveness and possibility to work with technology developer. Imported :- For some complex products, process know-how has to be imported. In such cases agreements for technology transfer should be made with due care in order to safeguard nation's interest. Government of India facilitates foreign technology induction both through FDI and through foreign technology collaboration agreements. FDI and Foreign technology collaboration agreements can be approved either through the automatic route under the powers delegated to the Reserve Bank of India or otherwise by the Government. For more details visit our Section on "Doing Business Abroad" While choosing the process technology, the following considerations are essential :- The level of skilled workers or complex machines required by the process. The quantity of water and / or power required. If any process or product patent is needed in order to utilize the selected process technology. Any special Pollution or Environmental regulation is to be followed. The appropriateness of the technology to the Indian environment and conditions. Raw Materials Raw Material procurement and planning are critical to success, of a start-up unit. The raw materials required may be:- Domestically available (within the country):- As we know that our country is a resource rich country with abundance of specific raw materials in different States. (For details, please refer to 'Investment opportunities and incentives' section). Accordingly appropriate suppliers of raw materials have to be selected. Imported from abroad:- For importing the raw materials the Government rules and regulations have to be followed. The imports are regulated by the Foreign Trade (Development and Regulation) Act, 1992. The Act provides for the appointment by the Central Government, of a Director General of Foreign Trade for the purpose of the Act. The DGFT shall advise Central Government in formulating export and import policy and implementing the policy. (For details, please refer to 'Legal Aspects' section). Whatever be the source of raw materials it must be bought from reputed dealers and agencies only. Before ordering, compare the prices and get quotation from at least 3-4 places and also check whether price is inclusive or exclusive of transportation costs. While receiving the delivery, check the quality and quantity of the materials. Proper planning is essential because non-availability of the required raw material may result in production hold-ups, idle machinery and manpower. On the other hand if too much is ordered too soon considerable amount of working capital gets locked up. All this will lead to increased production costs. But proper inventory management can lead to manageable cash flow situations. For imported raw material whose lead time are large, proper planning is all the more essential. Machinery and Equipments The next important step is choosing and ordering of right machinery and equipments. The machinery and equipments required may be either domestically available or imported from abroad. For importing machinery and equipments, the Government rules and regulations have to be followed. The imports are regulated by the Foreign Trade (Development and Regulation) Act, 1992. The Act provides for the appointment by the Central Government, of a Director General of Foreign Trade for the purpose of the Act. The DGFT shall advise Central Government in formulating export and import policy and implementing the policy. (For details, refer to 'Legal Aspects' section). Generally, technology or process provides with the necessary specifications relating to machinery and equipment required. Otherwise, an extensive techno-economic survey of the available machinery and equipment may be carried out. International trade fairs and engineering fairs are good places to look at available options. The entrepreneur may also consult experts, dealers / suppliers as well as users, prior to making a selection of equipment and machinery. Many entrepreneurs buy second hand machines and equipments. But this leads to the problem of prevalence of outdated production and management methods hindering the efficient operation of business units. The advice of SISI and NSIC can also be sought. There are 30 Micro,Small and Medium Enterprises Development Institutes (MSME-DIs) and 28 Branch MSME-DIs (formerly SISIs) set up in State capitals and other industrial cities all over the country. The main objective of National Small Industries Corporation Limited (NSIC) is to provide machinery and equipment to small industrial units offering them long repayment period with moderate rate of interest. It has been found that small industrialists are unable to install modern machinery and equipment due to lack of investable funds. Hence many schemes and incentives are available to assist them. Now, small scale firms can acquire industrial machinery, office equipment, vehicles, etc, without making full payment through hire purchase. With the help of assets acquired through hire purchase, they can produce and sell. From the earning of production, they can make payments in installment. Ultimately the ownership of assets can be acquired. National Small Industries Corporation (NSIC) provides machinery and equipment to small scale units on hire purchase basis and on lease basis. NSIC follows the following Hire Purchase procedure and Hire Purchase Scheme for financing plant and machinery to small scale units: The hire purchase application is to be made on the prescribed form. The Director of Industries of the State under whose jurisdiction the applicant falls, forwards the application to the head office of the NSIC at Delhi with his recommendation and comments. All applications for indigenous or imported machines are considered by acceptance committees comprising of the representatives of the Chief Controller of Imports, Development Commissioner, Small Scale Industries and other concerned departments. Decisions of these committees are conveyed to the parties concerned with copies to the regional offices of the NSIC and the concerned Directorate of Industries. It is open to an applicant whose case has been rejected to get his application reviewed by a high powered committee. Once the hirer completes all these formalities, instructions are sent to the suppliers to dispatch the consignment (duly insured for transit risk) to the hirer and to send the R/R or C/R as the case may be, to the regional office. The NSIC after ensuring that the hirer has paid all dues, releases the R/R or C/R to him for taking delivery of the machines. In case of imported machines, the procedure is slightly different in as much as the shipping documents are sent to the clearing agents for clearing the consignment from the Customs and dispatching it to the hirer. For more details visit our Section on 'Industry and Services' ^ Top

Related Links: Small Industries Development Organisation ( SIDO) Directorate General of Foreign Trade Department of Commerce National Small Industries Corporation Ltd.

Setting Up Infrastructure

Setting Up Infrastructure
A new business enterprise after deciding upon the location of the industry, needs to set up the basic infrastructural facilities for commencing its operations. It includes, purchasing the land for the construction of the industry. The site must be well connected to the nearest transport network i.e. rail, road or port. Besides, the availability of the basic amenities like, water, power supply is equally essential. Also, setting up of a good telecom facility for the industry is necessary for the growth and expansion of the business. The State Government offers incentives like land and building tax concessions, providing land at cheaper rates through the State Government Agencies to new and existing entrepreneurs. It also offers concessions in water tariff, power subsidy, subsidy on generating sets, transport subsidy, incentive for pollution control and quality equipment depending on the location, size of investment and category of the industry. After all these requirements are met the commercial production of the product can commence. ^ Top	Land and Construction of Building Getting Utility Connections (Water and Power) Getting a Telephone and Internet connection
Related Links: Ministry of Urban Affairs Mahanagar Telephone Nigam Limited Bharat Sanchar Nigam Limited

Regulatory Requirements

Regulatory Requirements
Once an entrepreneur has taken all the important decisions relating to starting a business, he/she has to take into account the basic regulatory requirements which are to be followed for setting up the organisation. The most important regulation is the Companies Act,1956, which regulates all the affairs of a company. It contains provisions relating to the formation of a company, powers and responsibilities of the directors and managers, raising of capital, holding company meetings, maintenance and audit of company accounts, powers of inspection and investigation of company affairs, reconstruction and amalgamation of a company and even winding up of a company. The Ministry of Corporate Affairs, earlier known as Department of Corporate Affairs under Ministry of Finance, is primarily concerned with administration of this Act as well as other allied Acts and rules & regulations framed there-under. The next important regulation relates to environment. The environmental regulatory requirements envisage a wide legislative framework covering every aspect of environment protection like air, water, noise, forest conservation, wildlife protection, etc. Also, separate set of laws and rules for emission of hazardous wastes have been enacted. The Ministry of Environment and Forests (MoEF), is the nodal agency for regulating all such environmental aspects. It undertakes conservation & survey of flora, fauna, forests and wildlife; prevention & control of pollution; afforestation & regeneration of degraded areas. Every industry has to abide by all such guidelines and parameters for environmental protection because only this will ensure its sustainable progress and growth. ^ Top	Environmental Regulations Companies Act
Related Links: Ministry of Corporate Affairs The Companies Act, 1956 Ministry of Environment and Forests The Environment (Protection) Act, 1986

Register a Company

Register a Company

Registrars of Companies (ROC) appointed under Section 609 of the Companies Act covering the various States and Union Territories, are vested with the primary duty of registering companies floated in the respective States and Union Territories and of ensuring that such companies comply with statutory requirements under the Act. These offices function as registries of records relating to the companies registered with them, which are available for inspection by members of the public on payment of the prescribed fee. The Registrars of Companies in different States primarily deal with the Incorporation of companies, change of name of companies, change of financial year, conversion of companies from Private to Public and vice versa, striking off of the names of companies, and default action against companies. The steps to be followed for registering a private limited or a public limited company are enlisted here. Steps to be taken to get incorporated a private limited Company: Select, in order of preference, a few suitable names, not less than four, indicative of the main objects of the company. Ensure that the name does not resemble the name of any other company already registered and also does not violate the provisions of Emblems and Names (Prevention of Improper Use) Act, 1950. Apply to the concerned ROC to ascertain the availability of a name in the General Rules and Forms along with a fee of Rs.500/- If the proposed name is not available apply for a fresh name on the same application. Arrange for the drafting of the Memorandum and Articles of Association by the solicitors, the vetting of the same by the ROC and the printing of the same. Arrange for the stamping of the Memorandum and Articles with the appropriate stamp duty. Get the Memorandum and Articles signed by at least two subscribers in his own hand, his father's name, occupation, address and the number of shares subscribed for and witnessed by atleast one person. Ensure that the Memorandum and Articles are dated after the date of stamping. Get the following forms duly filled up and signed: Declaration of Compliance Notice of the situation of the registered office of the company Particulars of the Director, Manager or Secretary Present the following documents to the ROC with the filing fee and the registration fee: The stamped and signed copies of the Memorandum and Articles of Association (3 copies). Form-1, 18 & 32 in duplicate. Any agreement referred to in the M & A. Any agreement proposed to be entered into with any individual for appointment as Managing or whole time Director. Name availability letter issued by the ROC. Power of Attorney from the subscribers in favour of any person for making corrections on their behalf in the documents and papers filed for registration. Pay the Registration and Filing Fee by Demand Draft/Banker's Cheque if it exceeds Rs.1000/- Obtain the Certificate of Incorporation from ROC. Additional Steps to be taken for formation of a Public Limited Company Consent of Directors to act as such in Form No.29. Arrange for payment of application and allotment money by Directors on shares taken or agreed to be taken. File the Statement in Lieu of Prospectus with the ROC in schedule-iv of the Companies Act. File a declaration in Form-20 duly signed by one of the Directors. Obtain the Certificate of Commencement of Business. More information can be obtained from the website of the Ministry of Corporate Affairs(External website that opens in a new window) Search for Registered Companies in India (External website that opens in a new window)