STATEMENT OF THE PROBLEM The study aims to present a comparative analysis of Income of Mariculture of Bangus adaption through the

Galvanize Iron (GI) structure to Norwegian type of floating cage in Sual, Pangasinan. Specifically it aims to answer the following questions. 1. What is the socio-economic profile of milkfish vendors in terms of: 1.1 Source of capitalization 1.2 Length of work experience 1.3 Area of operation 2. What are the advantages and disadvantages of Mariculture of Bangus in cage compare to the traditional method of Bangus in terms of Business administration. 2.1 Profit 2.2 Management 3. What is the level of perception of the Mariculture as to business capabilities.

CHAPTER II

REVIEW OF RELATED LITERATURE This chapter focuses on the related literature of the research that contributes in completing this study. Related Literature The milkfish (Chanus chanos) family chanidae, is a herring like fish ranging from tropical America to Africa, where is highly prized as food. It is a silvery fish reaching 1.6 (5ft) in length. Milkfish pawn in shallow, brackish water from March to May, each fish capable of producing up to a million eggs. Young fry captured in the open sea feed on specially culture algal mats in the pounds until marketable. (Lexicon Universal Encyclopedia) Milkfish is a valuable food fish native to warm ocean waters from Western Mexico to Eastern Africa. The milkfish as a slender body and a deeply forked tail. It may reach a length 5 feet. In the Philippines, China and Costal regions of South Asia, milkfish are raised extensively for food, although they cannot be bred in captivity. Milkfish lay their eggs in shallow brackish water and

the young fish are later collected and raised in special ponds. The milkfish Chanos chanos, is classified as order Clupeiformes, family chanidae. The milkfish is raised or food in many regions of Asia. (Merit Students Encyclopedia) Profit in business, is what is left of earning after expenses have been met. Profits serve several functions in the economy. They provide functions for maintaining a business enterprise. They make the enterprise attractive to the investors, who may supply additional funds. The expectation of profits encourages persons to make the risks of starting business. Profit also serve to indicate if a business is operating efficiently. Profits are figured as an excess of total income earned. During a specific period over cost and expenses of doing business during that period. The period is usually a month, a quarter, or a year. If costs and expenses exceed income, a lost results. (New Standard Encyclopedia) The assortment of strategies used by the marketers to guide how, when and where product information is presented to consumers. The goal of vendors is to persuade their consumers to buy a particular brand or product. A vendor is a person who sells goods and services in or to a market especially one that markets a specified commodity.

In a business, there is a need for the vendor to identify the market before production. There is a need to identify the market demand, price and identification of markets. Identification of market demand maybe derived from the middlemen, other farmers, and printed materials or from government sources.(such as Ministry of Trade and Industry) and other secondary sources. Price especially or agricultural products is largely dependent on the interaction of supply and demand. It is not unusual to see that during harvest period of lean stock. Evidently the storage functions could create opportunities for increased profit. Market of agriculture produce may be to consumers, industrial or ultimate like housewives or middlemen like jobbers, wholesalers, and retailers. Most farmers market their produced through middle men who are specialist in the performance of market function. (Home Economics and Livelihood Education 6) Market, in economics, is a point at which the forces of supply and demand coverage to establish a price of an article of trade. It may be a physical center, usually designated by the term market place or it may represent simply a group of interested buyers and sellers, who are scattered geographically and whose bids and offers set a price.

Public markets developed from the fairs of medieval Europe, particularly those in England, France and Low Countries. In those nations, fairs served principally as means for selling the agricultural produced of the area. Organized stock changes or securities markets, commodity markets and the money markets are also examples of public markets. A stock market enables investors to buy or sell bonds or share of stocks. Commodity markets deal in contracts to buy or sell foods, metals, or other goods, money/currency markets are concerned with large-scale money and credit transactions by banks, either within a single country or internationally (Bogozzi R, R., et al. Wiley 1999).

Theoretical /Conceptual Framework Profit is a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the business's owners, who may or may not decide to spend it on the business. (http://www.investopedia.com/terms/p/profit.asp) Economic history shows that profit seeking has played a major role in the economic advancement in free-enterprise economic systems. It is one of the chief reasons for operating a business like selling milkfish product (Lexicon Universal Encyclopedia Edwards, E.O ET all. 1999) Since milkfish is relatively cheaper compared to other fish products, it is considered as the top diet Filipino households. Thus, selling milkfish is a lucrative endeavor. It is therefore, the aim of this study to evaluate the profitability of the milkfish vendors in order to gain baseline data regarding their status.

Input

Process

Output

Personal accounts of milkfish vendors in terms of: A. Sales B. Daily income C. Daily expense

Descriptive Research using Survey and Questionnaire as Data Gathering Instrument

Profitability of Milkfish Vendors in Sual, Pangasinan

Figure 1: Research Paradigm Figure 1 shows the research paradigm, which determines the input process and the output of the study.

Input: the input of the study starts with the personal account of the milkfish vendors in terms of their sales, daily income and daily expense. Process: the process of the study uses a descriptive survey research and questionnaire as data gathering instruments. Output: the expected output of the study is to determine the profitability of milkfish vendors in Sual, Pangasinan.

Significance of the study

The result of this study are beneficial to the following: Researches The finding of the study can provide some basic information for further study of other researchers who wants to conduct further research work on milkfish industry. Vendors This study gives more information that they can use to be more effective in operating a business. Consumer This study will give them further information regarding the insight on the field of profitability of milkfish industry and how the industry runs in the business field. City Government This study gives them further information with regards to the profitability of a business and with the status of milkfish vendors in the economy.

Research design The researchers used a descriptive method for the survey-using questionnaire as its instrument in gathering and presentation of data, in order to get the profitability of milkfish vendors in Sual, Pangasinan. The Researches distributed the questionnaire to their respondents. The questionnaire contains a set of questions made by the researchers to be able to gather answer from the respondent in order to provide statistical information.

Rationale and Background of the Study Sual is a first class in the province of Pangasinan, Philippines. According to the latest census, it has a population of 29,925 people in 5,444 households. The municipality of Sual is provided with a natural port wherein boats can enter into and remain safe during typhoons. For Sual, when developed will serve as the window of the west and where products could be sold and transported to all parts of the world as when she was a port of entry during the Spanish time. Sual today can bask well under the sun as the only municipality where General Emilio Aguinaldo embarked in going to Hongkong to fulfill a provision of the Pact of Biak-na-Bato to go into self-exile. Sual was founded on May 20, 1805 when Don Rafael Maria Aguilar was Governor-General of the Philippines. Before that year however, Labrador was part and parcel of Sual. It was during the year 1834 when Domingo Villanueva was the Gobernadorcillo that the first parochial church was erected in the southeastern part of the Poblacion now the Catholic cemetery. Sual, Pangasinan the operation of fish cages here will now be regulated by the municipal government to ensure the sustainability of the industry. The fish

cages, which generate about 25% of the total bangus production in Pangasinan, began to proliferate in the coastal areas here since 1996 and there are now about 400. The ordinance will bring the number down to300, which a government study identified to be ideal for sustainable operations. The cages, currently scattered irregularly at the sea, will also be re-positioned into rows of 100. At a tax rate of P10,000 per cage, the municipal government projects an annual income of P3 million from the fish cages. Sual got its name in the following story. Two Spaniards were visiting the town and they happened to see a native who was digging a hole with a spade. They asked him in Spanish, " Como se ilama este pueblo," meaning what is the name of this town. They looked at the spade and thinking that they were asking for the spade, he answered, "sual." The Spaniards taking the word to be the name of the place, called it Sual. http://bolinaopangasinan.net84.net/sual_pangasinan.html This study hope to determine the profitability of milkfish vendors in Sual, Pangasinan. It aims to provide baseline information about the vendors in the city which could be use by the policymakers and in enhancing the bangus industry as a whole.