Aries Abogado, Princess Nove Cabanganan, Kenneth Costillas, Nicole Dela Pena, Jose Emannuel Roxas, Kyle Marie Tinoco 4 0
A Feasibility Study on milkfish (Bangus) farming through pond cultivation 6
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Aries Abogado, Princess Nove Cabanganan, Kenneth Costillas, Nicole Dela Pena, Jose Emannuel Roxas, Kyle Marie Tinoco
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Feasibility Study: (BSBA major in Business Economics) - Pamantasan ng Lungsod ng Maynila, 2022
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Executive Summary a. Brief Description on the Study Milkfish, which are one of the most commonly farmed species in the Philippines, are adaptable enough to be reared in marine, brackish, and even freshwater environments. The majority of the milkfish that is produced in the Philippines is reserved for domestic consumption. Milkfish products are often consumed dried, smoked, or fileted, and they can be purchased either fresh or frozen. The Philippine milkfish, which is often served in a Filipino home, is a big favorite in many countries, especially in those places where there are a large number of Filipino workers and immigrants. Over the course of time, the practice of aquaculture, also known as the rearing of fish in Controlled environments such as fish pens and fish cages, has been carried out in certain areas of Hagonoy, which is located in the province of Bulacan. Since it was initially shown to be commercially viable in the early 1970s, fish pen and fish cage culture in the lake had grown. This culture brought in money, jobs, and a way of life for the nearby communities, as well as tax revenue for the government and fish for the general public. Aquaculture of milkfish has been practiced in the countries of Southeast Asia for more than five hundred years. According to Chavoso, this company is widely recognized as the institution that laid the groundwork for aquaculture in the Philippines (2003). Milkfish are grown using a variety of cultivation methods, the most common of which are extended, semi-intensive, and intense. Insofar as fish farming is concerned, the comprehensive system that FiliFish will utilize enables only the addition of extra feeds as a possible method of production. According to the findings of several studies, the typical Filipino consumes close to four (4) kilograms of milkfish on an annual basis. The Philippine market is home to one of the world's most valuable fish species in terms of commercial significance and volume of trade. The primary focus of this research is on determining whether or not it is possible to grow milkfish (Chanos chanos) in a particular location within Hagonoy, Bulacan. In the eastern part of the lake, where there is a sustainable environment for the cultivation of milkfish due to the regular infiltration of saltwater, which provides a brackish water habitat that is excellent for milkfish, the milkfish population has been able to thrive. b. Marketing Feasibility The target market of the firm are the consumers residing in Hagonoy, Bulacan and its neighboring municipalities. Furthermore, the firm also aims to offer bangus to restaurants and supermarkets as its future considerations. The researchers have utilized primary data to determine the target market as well as the appropriate amount of fingerlings to cultivate to address the demand gap. c. Technical Feasibility In the technical section of the study, it is said that milkfish can be produced within three months, reaching a length of eight to sixteen inches and a weight of approximately 300 grams, respectively. It is estimated that the farmers will collect 10,000 kilos per year, assuming daily operations in 4 harvesting cycles and yield rate of 80% in a 1 hectare milkfish pond. Since the proponents have decided to concentrate on pond culture, the production is less costly, allowing most of the capital to be allocated to other expenses, making the study more feasible. d. Management Feasibility The proposed study will be in a form of general partnership between six young entrepreneurs. The partners aim to establish a firm wherein not only partners but also end consumers will benefit from the product. The management will ensure to produce high quality but affordable milkfish to every household and businesses within its target market while reaching its goal to be one of the leading and top producers of milkfish in the Philippines. e. Financial Feasibility The initial cost of the project, where each partner will contribute up to 125,000 PHP from the six board members of the Filifish Fishery, determines the project's financial viability. Equity money will serve as the project's primary source of finance. Moreover, The official process for major purchases or investments is called capital budgeting wherein it involves the key investment decision the company makes for the growth of the organization, such as the purchase, sale, modification, or replacement of fixed assets. The researchers were able to provide a 5-year projection regarding the milkfish availability in Hagonoy Bulacan as the estimated net income after taking these factors into account is as follows: 157,152.5 1, 374,804.24, 436,925. 10, 525,832.25, 625,487.55