Overview

Original Research

ENHANCING FISHERIES ENTERPRISES: A CASE STUDY OF BAMBOO FISH CAGES IN KLOJEN, MALANG

MIMIT PRIMYASTANTO 1, SUPRIYADI SUPRIYADI 2, KURNIA SADA HARAHAP 3, MARIANA SARI 4, and ROSLINDAH DAENG SIANG 5.

Vol 19, No 01 ( 2024 )   |  DOI: 10.5281/zenodo.10605146   |   Author Affiliation: Fisheries Agribusiness, Faculty of Fisheries and Marine Sciences, Brawijaya University, Jl. Veteran, Ketawanggede, Lowokwaru, Malang City, East Java, Indonesia 1,4; Socioeconomic Fisheries Brawijaya University Kediri City Campus, Faculty of Fisheries and Marine Sciences, Brawijaya University, Jl. Pringgodani, Mrican, District. Mojoroto, Kediri Regency, East Java, Indonesia 2; Postgraduate Doctoral Program, Faculty of Fisheries and Marine Sciences, Brawijaya University, Jl. Veteran, Ketawanggede, District. Lowokwaru, Malang City, East Java, Indonesia 3; Fisheries Agribusiness, Faculty of Fisheries and Marine Sciences, Halu Oleo University, Kambu, Kendari City, Southeast Sulawesi, Indonesia 5.   |   Licensing: CC 4.0   |   Pg no: 970-984   |   Published on: 24-01-2024

Abstract

The utilization of public resources as a business area for fish cultivation represents an innovative approach that can yield benefits for entrepreneurs. This not only generates profits for business owners but also has positive impacts on the environment, as demonstrated by the improvement in the cleanliness of the utilized water bodies such as rivers. This study focuses on the fish farming enterprise carried out by the "SM" fish farming group, specifically in the expansion of fish cultivation using bamboo cages. The group's efforts result in the production of high-quality tilapia, carp, and koi fish, contributing to consumer demand fulfillment. The objectives of this research are to analyze both the non-financial and financial feasibility of the fish cultivation business within the "SM" bamboo cage group and to assess strategies for its further development. The analytical methods employed include non-financial feasibility analysis, financial feasibility analysis, and SWOT analysis. The non-financial feasibility analysis indicates that the fish farming group "SM" meets the criteria, making it feasible for continuation. In the short-term financial analysis, the Return over Cost (R/C) ratio is 1.96, with a profit of Rp703,221,000, a Return on Equity Capital (REC) of 91.89%, and a Break Even Point (BEP) sales of Rp145,412,915. In the long-term financial feasibility, the Net Present Value (NPV) is Rp3,767,460,000, the Benefit-Cost Ratio (B/C) is 11.29, the Internal Rate of Return (IRR) is 211%, the Payback Period (PP) is 6 months and 11 days, and the sensitivity analysis suggests that the bamboo cage business is not sensitive. The strategic analysis places the enterprise in quadrant I, indicating a favorable situation with strengths and opportunities to be leveraged, aligning with a Strength-Opportunity (SO) strategy for further business development, supported by a Growth-Oriented Strategy.

Keywords

Bamboo Cage, Business Development Strategy, Food Security, SWOT.