Canadian Fishing Companies – Struggling with Debt

The fishing industry in Canada is well-developed and viable, with a total worth of over CAD $5 billion. Fishing companies provide over 120,000 jobs across Canada, including in coastal and rural

Problems and Prospects

During the last decade, government assistance shifted from targeted, large subsidies to targeted, small subsidies. This means higher direct costs for fishing companies, together with increased debt and capitalization. Measures and activities adopted and implemented to optimize the fleet and equipment resulted in significantly higher debt loads. Decreased flexibility and adaptability are also a source of concern due to limited license privileges, limited entry systems, and other factors. At present, the trapping, hunting, fishing, and agriculture industries have a higher total debt load compared to industries such as coal and petroleum products, quarrying and mining, medicine manufacturing, soft drink and food manufacturing, rubber products and plastics manufacturing, and many others. Many fishing companies rack up debt on equipment and supplies such as unpaid fuel and repairs to vessels. There are companies that already sold some of their properties to repay debt, which in practice means that they are downsizing.

Possible Solutions

There are several solutions to look into when struggling with debt in the form of business and commercial loans, personal loans, and credit card balances. Debt consolidation loansare offered by different finance providers, including online services, brick-and-mortar banks, and others. If you have business loans, you may want to contact your issuer and ask whether they are willing to renegotiate the rate, terms, and repayment schedule. Debt consolidation, however, allows borrowers to combine different types of credit, including consumer and other loans, credit cards, etc. There are plenty of benefits to debt consolidation, especially if you have multiple unsecured loans to repay, and one is that borrowers are offered a reduced interest rate and hence – a more affordable monthly payment. This is also a good option to simplify your finances and payment schedule and rebuild and establish credit over time provided that you make timely payments. When it comes to the type of loan, there are two options – secured and unsecured, each with its own pros and cons. If you opt for an unsecured loan, the main benefit is that no collateral in the form of valuable asset is required. This means less risk for you as a borrower and more risk for your financial institution. As a result, the interest rate is higher than secured loans, and there are strict credit requirements, i.e. you must have a very good or excellent score to qualify. A secured loan is a second option whereby the borrower is asked to pledge some asset, i.e. vehicle, accounts receivable, real estate, etc. There are plenty of benefits to look into, including higher borrowing limits, attractive repayment terms, more relaxed qualification requirements when it comes to income level and credit score, and competitive interest rates. On the downside, the main risk is potential loss of the collateral in case you are unable to meet your monthly payments. There are other solutions to look into, for example, formal proposal to financial institutions, debt restructuring, and filing for bankruptcy as a last resort. The reason is that this is a major blow on your credit score.

Not only companies struggle with debt, many individuals also do. One way to get out of debt is to get a debt consolidation loan, and combine all your debts in one, which is easier to manage and has lower interest rate compared to credit cards – and bad credit loans. If you need a credit card you can apply for Neo Financial credit card, which is relatively easy to get: You may also visit our sponsor:

Protecting the Stocks of Wild Pacific Salmon in British Columbia

Wild Pacific Salmon is a species essential for equilibrium and the economic, cultural, and ecological balance in British Columbia.

Quick Facts on Salomon Populations and Conservation Measures

Wild Pacific Salmon belongs to the group of Oncorhynchus and is found in the Pacific Ocean. Fishing quotas are largely determined by the abundance, availability, and health of wild populations and not by the availability of farmed fish. This means that fishermen are allowed to fish up to a certain amount and are not legally permitted to exceed the quota. The problem is that farmed fish has already flooded the market, lowering the price of wild salmon. This has resulted in significant income losses in coastal areas, and the question of whether fishermen fish up to the amount permitted has reemerged. What is more, farmed salmon has become a threat to wild populations because net-cages are the breeding ground for various diseases and parasites that contaminate the water of wild populations. Another problem is that farmed fish often escapes the nets and transfers parasites to wild populations. They also compete for food with wild fish.salmon-trout

How to Protect Wild Salmon

There are many steps to ensure that wild salmon populations thrive in a healthy and safe environment. Many advocacy groups and non-for-profits work to protect wild populations, including Save our Wild Salmon, Trout Unlimited, the Pacific Rivers Council, and others. The first step may be to contact an advocacy group and report a violation or ask about the different ways you can help (e.g. donation, volunteering, etc.) Choosing wild salmon to farmed salmon is also a good way to show support.

It is also important to protect the habitat of wild salmon to ensure healthy populations. To this, a key step is to establish safeguards and protect water bodies in which wild salmon thrives and to prevent new threats. One idea is to create protected areas or strongholds and mimic the conditions that allow wild salmon to best adapt and thrive. This is one option in the face of environmental and other issues such as increasing pressure from hatchery fish, resource extraction and depletion, climate change, and so on. The focus will be on long-term measures and protection. There are organizations that have successfully established protected areas in different regions across the world, for example, Tugursky Nature Reserve, Shantar Islands National Park, Koppi River Nature Reserve, Vostochnii Wildlife Refuge, and others. Some of these areas are specifically established and designated to promote and preserve aquatic diversity. Sanctuaries for Wild Pacific Salmon can be created in British Columbia in cooperation with state agencies, local partners, and other interested parties. It is also a good idea to create state conservation areas for wild salmon populations to protect natural resources and forests that benefit wild fish, including forest products, carbon sequestration, clean water, and so on. This will definitely aid wild salmon recovery. There are other essential steps to this end, and one is to review national legislation and identify areas for improvement. The U.S., for example, has introduced a new piece of legislation, the Pacific Salmon Stronghold Conservation Act to aid the recovery of wild salmon populations that are federally listed. The act will establish a grant program to aid recovery and conservation.