GARDINER, Maine, August 1st, 2023 – The Maine Aquaculture Association (MAA) today announced the publication of a new tool to help aquaculture farmers finance their businesses. 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. The manual notes that “financing an aquaculture business remains a challenging situation, but one that has become more attainable in the past five years” with an increase in the diversity of financing sources available to growers.
“We are pleased to deliver this comprehensive resource to the Maine aquaculture community at a time when many small businesses are beginning to develop business plans to scale and sustain their operations,” said Brayden. “It has been wonderful to see the proliferation of so many institutions providing financial backing to these burgeoning Maine family businesses.”
Everything from loans and grants to economic development funds and tax incentives is outlined in the manual. “This financial resource manual is another business development tool produced by Maine Aquaculture Association with FocusMaine sponsorship,” said Andrea C. Maker, President and Co-chair of FocusMaine. “The number of aquaculture jobs in Maine has nearly doubled from 220 in 2017 to 445 in 2022. This resource will continue to strengthen and accelerate the growth of Maine’s aquaculture businesses.”
The report has already earned the praise of financial professionals who’ve worked directly with the Maine aquaculture community. “One of the greatest hurdles to growth in aquaculture has always been finding financial support – whether it’s funds to get a new business started or money to scale up production,” said Peter Piconi, Certified Business Advisor with the Maine Small Business Development Centers hosted at Coastal Enterprises, Inc. “This manual goes a long way to help farmers navigate their options, determine the risk, and empowers Maine aquaculturists to plot a positive path for sustainable growth.”
The manual is the latest tool in a suite of resources developed by the MAA with significant support from FocusMaine to guide beginning aquatic farmers in developing sustainable business practices, including business plans, production plans, financial benchmarking reports, marketing tools, and a distribution guide – all developed by Brayden and colleagues. Through his work with MAA, Brayden also offers free business planning and consultation services to new and growing farmers. To date, over 80 farmers have participated in the program. The Financing Resources Manual is available to download for free online. Please visit maineaqua.org/financing to download the manual.
About the Maine Aquaculture Association
The Maine Aquaculture Association (MAA) est. 1978, is a nonprofit trade association that advocates for Maine’s finfish, shellfish, and sea vegetable farmers. MAA’s mission is to support the state’s aquatic growers in developing economically and environmentally sustainable business practices, to promote the benefits of aquaculture in the local food system, and to preserve Maine’s heritage of a vibrant working waterfront.
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