Mayo mussel farm welcomes government-backed advice programme
Blackshell Farm, based in Westport, says the service was “very practical, very relevant and completely bespoke to our business.”
An Bord Iascaigh Mhara (BIM) has invited Mayo-based seafood businesses to avail of its advisory programme, which will pair them with a panel of experienced business advisors.
The programme provides practical, tailored support to help seafood businesses improve profitability and long-term sustainability. With an estimated 85% of Irish seafood businesses being family owned, it also helps guide companies through succession planning.
Blackshell Farm, a Westport-based mussel business, says that the advisory programme has helped them gain significant insight into the financial performance of its operations.
“It was very practical, very relevant and completely bespoke to our business,” Blackshell Farm’s Joan Molloy said: “We have had different types of business support over the years, some more useful than others, but this really helped us to look strategically at how we manage the financial side of the company.”
Blackshell Farm produces around 900 tonnes of rope-grown mussels annually in Clew Bay, with most exported in bulk to markets including France, Italy, the Netherlands and the UK.
“Before, we couldn't easily pull out the exact cost of producing a tonne of mussels. We will now be able to do that, something which is extremely valuable. We don't set the market price, but if we know our exact costs, we can make a much better decision about whether it makes sense for us to enter a particular market, added Joan Molloy.
The programme offers support across three disciplines: helping seafood businesses improve financial performance to plan for long-term sustainability; preparing for succession, ensuring family-owned enterprises can successfully transition to the next generation or exit, and business mergers and acquisitions.
One of the key areas of support is financial performance, where advisors work alongside businesses to understand exactly where profits are being made and where they may be leaking away.
This includes carrying out a detailed financial health check, identifying opportunities to reduce costs, strengthen sales and introduce practical financial management tools that support better day-to-day and strategic decision-making.
Advisors work alongside businesses to help implement recommendations, ensuring improvements become embedded within day-to-day operations and deliver lasting benefits.
BIM CEO, Richard Donnelly, said: "Ireland's seafood industry continues to operate in an increasingly challenging environment, with businesses facing rising costs and changing markets. The Seafood Business Advisory Programme is designed to give seafood companies access to experienced financial advisors who understand the realities of the sector and can provide practical, tailored support that delivers measurable improvements.”
"Whether the priority is improving profitability, planning for the next generation of leadership, or mergers, the programme gives businesses an opportunity to step back, identify opportunities and build stronger, more resilient operations for the future."
He added: “One important area of support is succession planning. Most Irish seafood businesses are family owned, with two or sometimes even three generations working together. Planning on handing over to a new generation is vital.”
An Bord Iascaigh Mhara, established under The Irish Sea Fisheries Act in 1952, is the Irish State agency responsible for developing the Irish seafood industry
Mayo businesses interested in accessing the programme should contact Gavin McGrath, Commercial Operations Executive at BIM, ([email protected]) to discuss the opportunities or challenges they would like to address.