The Business of Fishing: course topics

This course will cover all of the following topics and provide resources for more information.

Laws of the Sea (maritime law, federal/state jurisdictions, legal terminology)

This section looks at relevant laws that cover Alaska fishing operations. The section will review the Magnuson Stevens, the Jones Act, and other international, federal and state laws governing commercial fishing operations.

Income Taxes (filing tax returns, working with tax accountants and IRS)

Attendees will be given the basic requirements needed to meet the conditions of filing for taxes with the IRS. Necessary forms, information and tips will be included along with information sources that may help you with future tax filings.

Safety at Sea (emergency gear, drills, AMSEA information)

Designed with the assistance of the Alaska Marine Safety Education Association (AMSEA), the safety segment will cover the most critical safety measures one can take in their fishing operation, federal and state requirements, and several useful tips to make safely returning home a reality.

Planning for Retirement (savings/retirement plans, transitioning, selling your operation)

Fishing is tough work and being able to comfortably transition out of the business after a few decades is important. There is no better time to begin planning for retirement than right now. This segment covers the concepts behind retirement planning, types of retirement systems, investing for retirement and tips on where to go to start saving.

A-Z on Government Agencies (federal, state, local agencies, government structure, major agencies and purposes)

This segment will look at the various federal, state and local governments and identify their role in your industry. The review will range from policy councils/boards to small regulatory agencies.

Financial Management (financial statements, accounting practices, money management)

Managing finances is an important and often overlooked aspect of running a fishing operation. This segment will cover the various financial management tools available to anyone in business, their importance and how you can do a better job tracking your money.

Seafood Processing (processing sector, operating conditions, direct marketing, governing laws)

Seafood processing is a critical component of a fishing operation. Positive partnerships with local processor make for a greater chance of success. This segment will take a close look at the processing segment to understand the environment they operate under and take a peek at what would be required if a fisherman wants to direct market their own catch.

Food Quality and Safety (causes of degradation, quality techniques, quality standards, traceability)

A fishing operation is in the food business. Protecting the food product from harmful contaminations is a full time job. Understanding how bacteria behaves and how poor handling of fish will lead to greater flesh degradation is the first step to providing a premium product to the world.

Seafood Marketing (marketing chain, expectations and constraints, the global market, competition and product innovations)

The food industry is ever changing as the world globalizes and consumer buying trends adapt to a faster pace. The global seafood market is a competitive and vibrant segment of that food industry and all Alaska fishermen are part of it. The brunt of pressures faced in the market by any number of the operators are often sustained the primary producer, the fisherman. This segment will explore the seafood market and Alaska’s place in that arena. It will look at new product trends and how aquaculture is changing the seafood market.

Insuring Your Operation (types of insurance, insurance pools, dealing with insurance)

Every fisherman needs insurance and sometimes it can costly and hard to find. This segment looks at the types of commercial fishing insurance and some interesting methods fishermen have adopted to reduce the cost.

Fisheries Financial Management and Evaluating Business Opportunities

Greater success through financial information

Want to track your dollars with greater certainty? Looking at buying a new boat or expensive IFQ? This workshop will highlight financial management tools and offer tips and tools for evaluating fisheries business opportunities.