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A Fresh Start: The Strategic Framework for Scottish Aquaculture

Improved Access to Finance Working Group (FWG) Presentation to the Ministerial Group on Aquaculture 22 June 2010. A Fresh Start: The Strategic Framework for Scottish Aquaculture. Desired Outcomes. Competitiveness of Scottish Aquaculture Long-term Investor Confidence

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A Fresh Start: The Strategic Framework for Scottish Aquaculture

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  1. Improved Access to Finance Working Group (FWG)Presentation to the Ministerial Group on Aquaculture22 June 2010 A Fresh Start: The Strategic Framework for Scottish Aquaculture

  2. Desired Outcomes • Competitiveness of Scottish Aquaculture • Long-term Investor Confidence • Development of robust data and information highlighting value, importance and prospects of aquaculture • Lack of Public Sector Funding • Lack of Private Sector Funding • Support for Innovation and New Technologies • More efficient use of facilities

  3. FWG: Composition & Methodology • Industry – Salmon, Shellfish, other species • Associated Industry (Feed) • Scottish Govt. (Marine Scotland, Statistical Analysis) • HIE • SDI • Crown Estate • Insurance Industry • Wider Financial Representation (Investment, HP, Venture Capital, Chartered Accountancy) • Corresponding Membership (to date) CSCB • Working methodology to research, analyse and educate those involved in aquaculture in better accessing finance and the finance sector in the value of aquaculture

  4. FWG: Bad News… • Review of Scottish Government economic statistics proved “unhelpful” • Paucity of information and of poor quality • No further work undertaken But: • Underlying message that aquaculture is wealth creating and net contributor • Shortcomings of SG data review being addressed and scope for improvement

  5. Current Work Programme “It was the best of times, it was the worst of times… it was the spring of hope, it was the winter of despair…” Dichotomy within aquaculture: • record salmon prices vs. lack of profitability in other sectors • Implication for financing – the haves and have nots • Priority to help the have nots • EFF application for two phase programme to address SME (all species) market positioning and business development

  6. Market Analysis and Business Development • Review the size, value and positioning of different sectors within Scottish Aquaculture (SME) • Review of scope for potential expansion and increased market penetration for individual business • Targeted business coaching and development opportunity (SME) • Proven track record in devolved areas (WAG, Scotland Food and Drink) • Proven increases in sales and turnover where applied elsewhere • Complementary to work of Marketing Group and other EFF projects (Buyers) • Scope for longer term role out / policy application?

  7. Longer Term Business Support? • Comparable schemes in terrestrial farming (FarmBASS) • Clearing Bank Sponsorship / SG endorsed • Economic development not subsidy and grant • Putting aquaculture on a comparable platform with other food producers and capture fisheries

  8. Putting “Strategic” into the Framework • Longstanding problem aquaculture producers have faced – to achieve an industry that is market led and not production led. Poor profitability profile and margin of return. • 2010? Market led, production inhibited. • A better understanding of cost of production, market position, market potential and business development will allow for market led growth, at any scale of production • Allow for improved access to finance based on proven business planning and accurate costing

  9. FWG: Additional Workstreams • Finance Bilateral (Scotland / Norway) Proposed to be held November 2010 in conjunction with first MoU meeting. Pre-meetings underway. • Marks the beginning of a finance sector specific aquaculture outreach programme, commencing 3rd quarter 2010 • Public Sector Funding Review A desk top review is currently underway, to be reported on by the end of the summer and circulated to industry. • Similar review to be undertaken with SG Agriculture / Rural Development programme for comparative purposes • Scope for tuning of EFF Clear problems wrt. accessing non convergence funding (parallel across the EU). Flexibility in company provision of matched funding (government supported loans). Currently being considered by the PMC and EU authorities in relation to state aid regulations

  10. Scottish Aquaculture Fast Facts • Purpose? A concise summary of production statistics and value for Scottish Aquaculture • Form? Annual publication promoting economic importance of Scottish produce. Progress? • Production figures “easy” (thanks to MSS/FHI) • EC Data Regulation requirements for value proving more contentious • Disagreement over provision of economic value statistics viz. industry data or SG data • To be amicably resolved and production by end 2010

  11. Take away messages • Identified the knowledge gaps and weaknesses • Identified required economic/market analysis and business support • Various projects now /shortly underway to address this • Opportunities for potential longer term sector support emerging • Applicable to all species and sectors, regardless of size and comparative values • Research, analysis and education programme continues

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