Assessing the Potential for fisheries-based Agribusiness Farms in Bangladesh: An Empirical Study

In Bangladesh, a nation enriched with vast inland aquatic ecosystems and adjacency to the Bay of Bengal, there is a prominent legacy of fisheries resources. This research aims to assess the current status, challenges, and future potential of fisheries-based agribusiness farms within the country. Using a purposive sampling technique, cross-sectional data were gathered from a cohort of 60 individuals. The data were presented through frequency distribution matrices and further complemented by the application of descriptive statistical methods. Analytical findings indicated that approximately 48.3% of stakeholders in the fisheries-centric agribusiness domain encountered financial challenges during the inception of their ventures. Concurrently, 20% of these stakeholders expressed a lack of foundational knowledge essential for a smooth business initiation. A significant portion of respondents (51.7%) identified inexperience as the main barrier to exporting fish products to international markets. Price volatility was a pronounced concern for 25% of respondents. Moreover, a staggering percentage of participants (90%) highlighted the inadequacy of existing educational structures in fostering entrepreneurial skills in Bangladesh. Other challenges included revenue losses due to the COVID-19 pandemic, a limited adoption of advanced technologies, a shortage of high-quality fish products, and potentially detrimental regulatory frameworks. It is essential for policymakers to consider strategies that integrate cutting-edge technologies, enact supportive regulations, stabilize prices, enhance access to financial instruments like loans, and establish modern educational institutions to address these challenges. This study also points to potential research areas that can further enrich our understanding and expand the theoretical framework of the fisheries-centric agribusiness sector.