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- Hello Shae, How has your family business been doing with these new governmental rules?
- We've honestly been struggling a little bit. I had to change the business operational method from a family partnership to a PLC.
- Does the government affect your business that much to the point you had to change the format your business operates in?
- The government's are emphasizing on environment sustainability resulting in them to impose fishing quotas on the quantity and weight. This has a affected our business severely resulting in reduction in our firms profit levels.
- Hasn't PST always fished responsibly, with the aim of preserving fish stock for the future generation?
- Yes, but governments increasingly imposing restrictions on the size and type of fish caught with stricter quotas on weight of the catches has drastically reduced the firms profit margins. To make matters worst the the governments trade agreement allows foreign trawlers to catch more fish. These foreign trawlers illegally overfish enabling them to reduce market prices which further reduces the firms profit margin.
- Seems like these new government polices have really affected your business. How have you managed to cope with these changes?
- For our firm to succeed we highly depend on on our employees. To ensure each employee performs to their best ability we offer extensive induction training and additional training session to update the skill level of employees. As our employees are bright individuals we offer them a chance to contribute to the firms success by delegating tasks and encouraging them to contribute with their ideas.
- Its great that you train your employees. They must be contributing to the success of your business.
- Yes, they are truly amazing. As a result of their hard work we have been able to sell the goods in the local fish market, restaurants and hotels.
- Seems like your business is coping well with the changes in the markel.
- I think it needs to be better as if it continues this way our liabilities will out way our assets bringing the firm to a debt.
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