Enterprise Budgets Research Articles

Anticipatory Technoeconomic Evaluation of Kentucky Bluegrass-Based Perennial Groundcover Implementations in Large-Scale Midwestern US Corn Production Systems

Perennial groundcover (PGC) has promise as a scalable approach to generating natural resource benefits and sustainable biofuel feedstock while preserving the high yields of annual row crop production. Partnering row crops with temporally and spatially complementary low-growing, shallow-rooted perennials, such as Kentucky bluegrass (KBG) (Poa pratensis L.), is one example of an emerging PGC system. PGC’s ecosystem benefits can only be fully realized if commercial-scale adoption occurs, which hinges on its economic feasibility. This paper utilizes an enterprise budget framework to detail and compare the expected cost and revenue of establishing and maintaining PGC in row crop systems with standard continuous corn (SCC) (Zea mays L.) production, including stover harvest, but excluding economic incentives for ecosystem services. Optimistic and pessimistic assumptions were used, along with Monte Carlo simulation, to characterize the uncertainty in results. In the optimistic stover market scenario, Year 1 net returns for PGC averaged USD 84/ac less than for SCC; Year 2+ net returns averaged USD 83/ac more, meaning that cost parity with SCC occurs by the second PGC system year. Without stover revenue, parity is achieved after five years. These results affirm that PGC’s economic viability is critically impacted by a groundcover’s lifespan, the yield parity with SCC, and the availability of a stover market.

Cost and impact of off‐flavor on U.S. catfish farms

AbstractObjectiveThe objective of this study was to quantify the economic costs and impacts of off‐flavor on U.S. catfish farms.MethodsA survey was conducted to quantify the costs and economic methods using enterprise budget techniques to enumerate the costs of off‐flavor on catfish farms.ResultDiuron was the most popular‐choice algicide for off‐flavor management. Direct annual costs associated with off‐flavor management on catfish farms amounted to US$40 million/year. Total industry economic losses due to off‐flavor was estimated at $73.9 million in 2022.ConclusionThe study confirms the continued significance of off‐flavor in U.S. catfish farming and quantifies the associated economic effects.

Estimating growout production costs of commercial‐scale marine finfish production in southern tier US states

AbstractIncreased interest in marine fish farming in the United States has led to a need for fundamental economic information on production of candidate species for commercialization in various production systems. Funding for the project targeted those species with potential for production in southern tier states in the United States. Sufficient technical data were found to develop comprehensive budget analyses to estimate growout production costs for four scales of production for each of 10 species with potential for production in ponds, 13 in recirculating aquaculture systems (RAS), and five in net pens. The choice of species/production system scenarios was based on evidence of successful production on farms or in research. Estimation of production costs with enterprise budgets can provide useful guidance to identify the types of improved efficiencies that have the greatest effect on economic viability even when commercial farm data are not available. Commercial farm data were used where available, but for most species, data were available only from studies conducted under research conditions. Per‐kg costs of production were lowest for net pen production, followed by ponds, with production costs in RAS two to five times greater than in ponds or net pens. Ponds and net pens generally exhibited greater efficiency of use of capital assets across species than did RAS that resulted in lower percentages of fixed costs and lower annual costs per kg of fish produced. All five species evaluated for net pen production were estimated to be profitable, including redfish, Sciaenops ocellatus (also known as red drum), striped bass, Morone saxatilis, cobia, Rachycentron canadum, red snapper, Lutjanus campechanus, and seriolids (generic budget for almaco jack, Seriola rivoliana, California yellowtail, Seriola lalandi, and greater amberjack, Seriola dumerili), four in ponds (redfish, hybrid drum, ♀Pogonias cromis × ♂Sciaenops ocellatus, black sea bass, Centropristis striata, and cobia), but none of the RAS scenarios showed profitability at average yields (kg/cubic meter) reported in the literature. Comprehensive data on growout production of marine finfish species in the United States is generally lacking, and there is a strong need for production trials conducted under near‐commercial conditions with an endpoint of market‐sized fish. Production trials should be conducted in ponds (≥0.1 ha), net pens, and RAS tanks of a size that simulate commercial production conditions. Adequate production trial databases would provide opportunities to develop economic optimization models that would provide useful guidance for prospective producers. Average yields (kg/cubic meter) in RAS will need to be much greater than currently reported in the research literature for RAS production to be economically sustainable. Net pen production appears to be profitable in the United States, but effective permitting procedures are not in place. Providing research support for the US redfish sector that has developed effective production and marketing models could serve as a foundation for developing additional species and offer opportunities for diversification on marine finfish farms.

Nexus between small and medium-sized enterprise budgeting skills and loan repayment in South Africa

This study’s purpose is to assess the influence of small and medium-sized enterprises’ (SMEs) budgeting skills on loan repayment in South Africa. The quantitative research approach was selected as the appropriate methodology for this study, while the purposive sampling approach was selected as the appropriate way to select participants for this study. The primary data for this study came from respondents who were business owners of SMEs in the retail, hardware, construction, and manufacturing industries. SPSS was used to analyze the acquired data. A total of 380 research questionnaires were distributed, and there were 375 that were returned for analysis (which gives a response rate of 99%). Both a regression analysis and a correlation analysis using Pearson’s method were carried out. Pearson’s correlation coefficient revealed a positive and significant relationship between SMEs’ budgeting skills and loan repayment at the level of r =.250, p < 0.0005. These results were supported by the finding that there is a positive and significant association between these two factors. According to the findings of the study, it is recommended that financial providers educate their SMEs on how to prepare various types of budgets, how to follow up and compare their financial objectives to their performance, and that financial institutions and government organizations should assist SMEs with budgeting skills to decrease SME loan defaults.

Navigating Challenges in Chinese Enterprise Management: A Focus on Budgeting and Performance Evaluation

In the ever-evolving landscape of global economic integration, comprehensive budget management and performance evaluation have emerged as critical tools for enhancing enterprise efficiency and fostering development. However, Chinese enterprises face challenges in breaking through existing management bottlenecks, hindering innovation and leading to phenomena of rapid growth followed by swift decline. This paper aims to address these challenges by exploring the relationship between budget management and performance appraisal, highlighting their vital role in enterprise total value management. By aligning budgeting with strategy and operations and establishing fair performance evaluation systems, organizations can cultivate environments conducive to internal competition, fostering a corporate culture replete with entrepreneurial and innovative spirit. The study analyzes existing issues in current budget management and performance appraisal, such as imperfect systems, rigid practices, and talent shortages, proposing strategies to strengthen enterprise budget and performance management. These strategies include enhancing organizational structures, integrating resources with strategic focus, strengthening PDCA cycles, and establishing effective assessment mechanisms. By leveraging cloud platforms and big data, and actively pursuing legislative reforms, enterprises can optimize their budget management and performance evaluation systems, ultimately driving sustained growth and competitiveness in dynamic market environments.

Discussion on the Optimization Strategies for Comprehensive Budget Management of Media Enterprises Based on Strategic Orientation

In today's rapidly developing economic and social environment, media enterprises face increasingly fierce market competition and constantly changing market environments. To stand firm and develop steadily under such a backdrop, media enterprises should correctly recognize the importance of comprehensive budget management. As an effective management tool, comprehensive budget management can help enterprises optimize resource allocation, enhance operational efficiency, and thus strengthen their competitiveness and adaptability. Comprehensive budget management based on strategic orientation is key to the sustainable development of media enterprises. Strategic orientation emphasizes that an enterprise's budget management should be closely integrated with its strategy, ensuring that the budget formulation and execution align with the long-term development goals of the enterprise. By constructing a sound comprehensive budget management system, media enterprises can ensure the scientific, rational, and operational nature of their budgets, thus providing a strong guarantee for the development of the enterprise. Moreover, strengthening internal control is an indispensable part of comprehensive budget management for media enterprises. Establishing a sound internal control mechanism allows media enterprises to standardize the budget execution process, prevent budget overruns and waste, ensure the achievement of budget goals, enhance the enterprise's risk management capability, and help the enterprise respond to various risks and challenges in a timely manner.

Survey of emerging technologies and return on investment in oil palm business in south-south states of Nigeria

The difference between the oil palm business in developed economy like Malaysia and that in less developed economy like Nigeria can be traced to technological advancement. Therefore there is continuous search for production and processing technologies that can drive development of the oil palm value chain. The broad objective of the study was to investigate the effect of innovative technologies on performance of oil palm business in South-South geo-political States of Nigeria. The study employed a multi-stage sampling procedure. Well validated structured questionnaires were used as instrument for data collection. Collected data were analysed using descriptive and inferential statistical tools such as mean, Percentage, Standard Deviation, Frequency Distribution Table, enterprise budgeting, and ordinary least square regression analysis. Socioeconomic characteristics of operators were diverse, with a predominance of young, married, male farmers (60.9%) engaged in small-scale production (mean farm size: 13.2 hectares). Traditional tools still dominated harvesting, but hydraulic press (adopted by 71.1%) and automated mills (5.3%) were adopted for processing. Value addition was substantially improved by processing technology and harvesting equipment in the South-South States of Nigeria. The study concluded that appropriate innovative technologies positively impacted profitability, efficiency, product quality, sustainability, and competitiveness. Training, subsidies and robust extension services to promote adoption of innovative technologies in the South-South States of Nigeria were recommended. The study has contributed to existing body of knowledge by affirming the central role of innovation in profit function and sustainability in the oil palm sector.

Evaluation and Improvement of Enterprise Budget Performance Based on Multiple Linear Regression Algorithm

Evaluation and Improvement of Enterprise Budget Performance Based on Multiple Linear Regression Algorithm

Profitability and Determinants of Output of Rice Production in Anambra State, Nigeria

The study examined the profitability and determinants of output of rice production in Anambra State, Nigeria. The specific objectives were to: estimate the profitability of rice production; establish the determinants of production output; and identify constraints to rice production in the area.Multistage, purposive and random sampling methods were used to select respondents. Though 378 copies of the questionnaire were administered to the farmers by personal interview, 315 adequately filled copies were sorted and used in data collation. Primary data used for the study were collated and analyzed by means of descriptive and inferential statistical tools such as the enterprise budgeting technique (gross margin, net farm income, mean net farm income and net return on income) Ordinary Least Squares (OLS) regression, One- way ANOVA and Scheffe’s Multiple Comparison test. Findings on the profitability of rice production in the area showed that per hectare gross margin figures were N315,300, N285,600, N302,800 and N301,233 for Anambra, Aguata and Awka Agricultural zones, and the State (study area) respectively. Net return on investment figures were 1.49, 1.23, 1.30 and 1.35 respectively. The NROI values indicate that for every N1.00 investments in rice productions in the three zones and the State the farmers are likely to realize on one hectare N1.49 in Anambra Agricultural zone, N1.23 in Aguata zone, N1.30 in Awka zone and on the average N1.35 in the State, hence rice production is a profitable enterprise in the area. Meanwhile, Schefee’s Multiple Comparison test indicated no significant difference between per hectare mean net farm incomes realized by farmers from paired agricultural zones. Findings on the influence of socio-economic characteristics of the farmers on production output indicated that five regressors (educational level, farming experience, farm size, amount of credit obtained and cost of inputs) exerted independent and statistically significant influences on output while the rest six did not have significant influence on output. Constraints to rice production posited insufficient fund as the most serious problem of rice production in the area, followed by scarcity and high cost of labour, scarcity and high cost of quality seeds, among others. Government should encourage financial institutions to make loans available to farmers and form cooperative societies to obtain bulk purchase of high quality seeds and other input resources.

Economic assessment of using Bermudagrass stockpiling and annual cereal pasture to extend grazing in cow-calf operations.

Bermudagrass (Cynodon dactylon L.) stockpiling and cool-season annual pastures can extend grazing seasons in cow-calf operations and reduce winter feeding costs, but less is known about how these practices interact and their effect on producer profitability. Data from a completely randomized-design experiment in South-Central Oklahoma were collected on three grazing systems for cows and calves: bermudagrass pasture (CONTROL), stockpiled bermudagrass and interseeded cool-season pasture (SPINT), and stockpiled bermudagrass plus cropland no-till seeded with a summer cover-crop followed by cool-season annuals (SPCROP). A mixed model was used to estimate the effects of grazing system on weaning weights, total hay, and total range cubes (crude protein [CP] = 30%) fed in each system. Enterprise budgeting was used to calculate the expected net return of each system. Weaning weight did not vary between systems (P = 0.6940), resulting in similar revenues. Relative to other treatments, the quantity of cubes fed in the CONTROL system were significantly higher (P < 0.0001) while hay fed was significantly higher in the SPCROP system (P = 0.0036). Increased machinery costs, seed costs, and fertilization requirements in bermudagrass stockpiling, interseeding, and cropland production outweighed the cost savings associated with less feeding. Total costs were $446 ha-1 ($722 hd-1), $451 ha-1 ($732 hd-1), and $553 ha-1 ($895 ha-1) for the CONTROL, SPINT, and SPCROP systems, respectively. Overall, the CONTROL system was $3.13 ha-1 ($5.08 hd-1) and $98.91 ha-1 ($160.10 hd-1) more profitable than the SPINT and SPCROP systems.

Economics of Organic and Non-Organic Vegetable Production among Small Holder Farmers in Cross River State

This study was conceptualized to analyze the cost and returns of organic and Non- organic farming among small holder fluted pumpkin farmers in Cross River State. A multistage sampling technique was employed in the selection of location and respondents. The data were collected from 240 organic and non-organic small holder fluted pumpkin farmers. The primary instrument used for data collected was structured questionnaire. Data obtained was analyzed by Enterprise budgeting method, Anova and descriptive statistics. Results indicated that the profit realized by organic fluted pumpkin farmers in Cross River State was N 108,060, while the profit of Non-organic was N145,480. The results of socio-economic characteristics of fluted pumpkin producers showed that majority (65.42%) were in Age bracket of 31-50 years. Majority (65.75%) of the respondents were female, (70.83%) were married, majority (97.92%) were literate, average farm size was 0.8 hectare, (82.50%) of household size were in the range of (6-9) and average years of experience of 9 years. The study therefore suggests that farmers should be trained as often as possible.

Economic Analysis Of Production Technologies Of Watermelon (Citrullus Lanatus) Among Smallholder Farmers In Akwa-Ibom State, Nigeria

The study was carried out to analyze the economics and production technologies of water melon among small holder farmers in Akwa- Ibom State. Multistage sampling technique was used in data collection. The data were collected from 240 organic and non-organic small holder watermelon farmers. The primary instrument used for data collected was structured questionnaire. Data obtained was analyzed by Enterprise budgeting method, Anova and descriptive statistics. The technologies used in the study area in water melon production were Organic and Non-organic (conventional system). The total revenue and the gross margin of conventional water melon producers realized per farmer per annum were N407,000 and N207,000 respectively, while the total revenue and gross margin for organic water melon producers were N562,385 and N433,141 respectively. The study suggests that awareness should be created by the extension officers on the use of organic farming technology.

Technical Efficiency of Broiler Production in Delta State, Nigeria

Purpose: The study examined the technical efficiency of broiler production in Delta State, Nigeria. Specifically, it determined the effects of socio-economic characteristics of the farmers on production output, determined the profitability of broiler production, and established the levels of technical efficiency attained by the farmers. It also ascertain the socio-economic factors of the farmers that influence their technical efficiency levels; assessed the nature of returns to scale and elasticities of broiler production inputs; and identified the constraints to broiler production in the area. A survey research design approach was used in the study. Multistage random sampling technique was used to select 240 registered broiler farmers. Primary data were collected in the 2019 production season using structured questionnaire administered to the respondents by personal interview. Methodology: Descriptive and parametric statistics such as frequencies, means, percentages, ratios, enterprise budgeting, profit function regression and Cobb-Douglas stochastic frontier regression techniques were used in data analysis. Findings: Findings indicated that broiler production output was significantly influenced by age, household size, farm size, farming experience and cost of feeds while gender, marital status, educational level, access to credit and extension visits were not significant. Mean technical efficiency scores of 0.94 was attained with 0.97 maximum and 0.90 minimum. Output elasticities with respect to farm size, labour, capital and feeds were 0.42, 0.13, 0.13 and 0.17 respectively. Technical efficiency of the farmers was significantly influenced by educational level, farming experience, household size, gender and access to credit, but weakly determined by age. Broiler farms operated at decreasing returns to scale. Major constraints to broiler production in the area arranged in descending order of seriousness were high cost of feeds, inadequate capital, high cost of labour, parasites and diseases, high mortality rate and inadequate feeds. Unique contributor to theory, policy and practice: Policy measures such as increased budgetary allocation to livestock production, subsidization of inputs, provision of soft loans to broiler farmers by relevant institutions, provision of requisite infrastructures and improved funding of extension agencies to enhance information dissemination to broiler farmers are advocated.

A description of the culture of tambatinga (Colossoma macropomum x Piaractus brachypomus) in a South American tropical region and the interaction of farm size with value chains

Understanding the economic efficiency of pond-based fish culture in tropical developing countries is essential for defining development programs. This study was designed to describe the aquaculture of tambatinga in various farm sizes that is being performed in a region close to the equator in Brazil called the midnorth. The major focus was on the economic performance and the relationship between different farm sizes and downstream value chains. We also describe the attractiveness of investments in small farms. A purposive sample of commercial tambatinga farms was taken. Sixteen farms were selected which encompassed a representative sample of progressively increasing production areas, ranging from 0.1 ha to 220 ha. Complete enterprise budgets were developed for each farm based on standard budgeting techniques, and indicators of financial feasibility were computed. The farming of tambatinga in the midnorth is performed in semi-intensive levee or watershed pond systems in farms of various levels of complexity and different production strategies. All farms perform a monophase cycle, stock small fingerlings (3 to 6 g) and feed fish with a commercial diet. Yield, net income, economic profit, net present value, internal rate of return and benefit/cost ratio were found to decrease as farm size increased. Payback period and break-even point increased as farm size increased. Small aquaculture farms (≤ 1.5 ha) had a vertical business structure and presented a more effective economic performance. They are also attractive as family investments. This model of enterprise can boost rural economies and reduce poverty in developing countries. Large farms (≥ 17 ha) were not economically feasible because they do not operate in the market and sell their production at lower prices. Increasing farm size should go hand in hand with improvements in technology to be feasible.

Impact of Digitalization on Budgeting Functions: An Investigation into Contingency Theory Perspectives

The objectives of this article are to examine whether the application of digitalization in enterprise budgeting affects the fulfilment of budgeting functions and their qualitative characteristics, and to investigate whether the realization of budgeting functions brings benefits. The research was conducted from the perspective of contingency theory, both internal and external conditions. The study used an online survey targeting company budgeting staff. Structural Equation Modelling was utilized to validate the structural model (PLS-SEM technique).&amp;nbsp;The conclusions confirm that the application of digitalization, which particularly pertains to ERP, business intelligence systems, and accounting systems with budgeting solutions, positively impacts the fulfilment of budgeting functions and most of their qualitative characteristics, while blockchain makes a minor contribution. Our research suggests that contingency variables, particularly internal ones such as company size, the quality of the organizational structure, and support for competitive strategy, continue to affect budgeting implementation even with the participation of digitalization in budgeting. Budgeting functions and their qualitative aspects are notably correlated with the advantages derived from budgeting, including financial performance, sustainable development and budget task execution.

Income analysis of turmeric marketing in Onitsha agricultural zone, Anambra state, Nigeria

The study examined income analysis of turmeric marketing in Onitsha agricultural zone, Anambra State, Nigeria. Specifically, it described the socioeconomic characteristics, profitability, economic efficiency, and constraints of turmeric marketing. Multistage and sample random sampling methods were used to select 160 intermediaries 80 wholesalers and 80 retailers for the study. Data were analyzed using descriptive statistics, enterprise Budgeting, Shepherd-Futrell techniques, and relative index techniques. Findings from socioeconomic characteristics revealed that the turmeric market is dominated by males mostly at wholesale marketing than women (60.00%) showing signs of gender sensitivity at different levels in the study area. Findings from the profitability of turmeric marketing showed that for every 1 Naira invested in the business, wholesalers returned 24 kobo while retailers returned 1.61 kobo. The result of the analyses revealed that both the wholesalers and retailers did not attain efficiency of 100% in the marketing of turmeric implying the existence of good level of inefficiencies among the actors (wholesalers and retailers). The level of inefficiency was higher (80.29%) among the wholesalers than the retailers (38.3%) implying that the retailers were more efficient in the marketing of turmeric than the wholesalers. The findings on constraints showed that online marketing, transportation and taxes, and LGA charges were the most perceived constraints on the wholesale level while on the retail level were online marketing, irregularity of market days, and insufficient start-up capital. Marketers should be encouraged to learn the act of on-line marketing to avoid being left out in modern trading and soft loan and grants should be made available for genuine marketers for efficient marketing were recommended.

Income and revenue analysis of garden egg leaf (Solanum aubergine) marketing among smallholder farmers in Onitsha and Awka agricultural zones, Anambra state

The study examined income and revenue analysis of garden egg leaf (solanum aubergine) marketing among smallholder farmers in Onitsha and Awka agricultural zones, Anambra State, Nigeria. Specifically, it described describe the socioeconomic characteristics, estimate the socioeconomic factors that determine the net marketing income, determines the profitability, the economic efficiency, and examines the constraints to garden egg leaf marketing. A multistage and random sampling procedure was used to select 160 respondents for the study. Data were collected from primary sources and were analyzed using descriptive statistics, enterprise budgeting, multiple regression, and relative importance index. Findings from the result show that the majority of the marketers are within the age limit of 25-35 years (56.25%), presence of female dominance, and a high percentage of marketers who sell both in the market, hawk in the street, events, and offices. Out of 12 independent variables included in the model, age, branding of product, education, household size and mode of delivery statistically and significantly influenced the net marketing income earned by the marketers. Profitability indicators such as net marketing income, return on investment, net return on investment, and coefficient of marketing efficiency of N441, 336.63, 1.3, 0.28, and 77% proved the enterprise profitable. The implication of the net return on investment figure is that the marketers return 28 kobo for every 1 Naira invested in the enterprise. The findings show that the perishable nature of garden egg leaf, inadequate price control, and hazards associated with hawking were perceived as the most serious constraints. Underage children should be encouraged to desist from street hawking especially during school hours also there is a need to address the activities of middlemen by relevant stakeholders to combat the price fluctuation in the marketing of garden egg leaves.

An integrated techno-economic decision-support fiscal forecast model for sea cage mariculture enterprises for Asian seabass production in Indian territorial waters

Cage-based mariculture ventures in India are expanding, particularly emerging with the most sought-after candidate Asian seabass Lates calcarifer in territorial waters. However, comprehensive techno-economics have not been attempted, and thus hindering the sector's growth potential. To address this, a spatiotemporally validated decision-support model was developed to optimize investment decisions and forecast economic performance. Peer-reviewed contextual data was used to establish scientifically valid assumptions, and robust scenario simulations were conducted to benchmark production systems and species performance. Unit standards were defined and benchmarked for metric deployment for the first time. Capacity Utilization (CU) was found to be critical for success, achieving break-even at 31% CU with set model specifications derived from an inverse linkage with market price dynamics. The enterprise model demonstrated significant economic potential over a ten-year horizon, with low risk due to current policy initiatives by the Indian government. Furthermore, the model architecture and benchmarked specifications derived are adaptable to other candidates with its species-specific biological parameter application. The study can aid stakeholders in planning the enterprise budget. Most importantly, the study highlights the advantages of integrating technological, biological, and financial approaches to mitigate risks and promote the mariculture sector in India. The adaptability of the Asian seabass to farming systems, technical feasibility, and the availability of seeds and suitable sites along the Indian coast have been influential factors and these attributes in specific underpins the profitability. This research provides a way forward for the future of the sector in India, particularly with regard to farming of the Asian seabass, and emphasizes the importance of techno-economic models (TEM) in promoting strategic development of the mariculture sector through open sea cage farming.

2024 Nebraska Crop Budgets — a Mixed Review with Some Costs Higher, Some Lower

While field operation costs are projected higher for the 2024 Nebraska crop enterprises, some material input costs are lower than were projected for 2023. One driving force on lower cost projections for 2024 is 20% to 40% less on fertilizer prices is factored in on many budgets, and five pounds less nitrogen fertilizer was entered for a majority of the corn budgets due to continued improvement of application practices. Cost scenarios for individual producers can vary based on their timing of input purchases and price variabilities. The 84 1Nebraska crop budgets are now available online in three formats with a complete 96-page pdf report, an Excel file, along with links to all of the budget reports created using the Agricultural Budget Calculator (ABC) program where enterprise budget data can be downloaded into user accounts and then modified for individual farm operations.

Effects of stocking density and water flow rate on performance, water quality and economic benefits of African catfish larvae (Clarias gariepinus Burchell, 1822) in the aquaponic system integrated with Azolla fern

The effect of stocking on fish performance is known is most systems, and for many fish. Meanwhile water flow rate remains an important factor in recirculating aquaculture systems. However less information is still available on the influence of aquaculture management practices on the performance of aquaponics. This study determined the effect of stocking density and water flow rate on growth performance of African catfish larvae (Clarias gariepinus) and Azolla spp. in catfish-Azolla aquaponics system. The 4 × 4 factorial experiment consisted of four larval stocking densities (1500 larvae/m3, 3000 larvae/m3, 4500 larvae/m3 and 6000 larvae/m3) and four water flow rates (0.25 L/min, 0.5 L/min, 0.75 L/min and 1 L/min) executed in triplicate. The stocking density and water flow rate had an interactive influence (P < 0.05) on the concentration of DO, TAN, and NO3−. The stocking density and water flow rate had an interactive influence (P < 0.05) on the final mean weight, SGR, and survival of C. gariepinus larvae, but not for FCR and yield (P > 0.05). The highest fish weight was achieved under combination of stocking density 3245 larvae/m3 and water flow rate of 0.87 L/min, but growth will still be optimized upto a stocking density of 4850 larvae/m3 but at higher combinations of water flow rates (> 0.875 L/min). The stocking density and water flow rate had an interactive influence (P < 0.05) on chlorophyll a concentration, but not fresh weight, dry weight and yield (P > 0.05). Enterprise budgets for aquaponic with different stocking densities and water flow rate for fish and Azolla production allowed all the treatments to post positive returns to risk and were viable investments. Cash flow projections were made over a 10 year period for each of the units with the net present value (NPV) and internal rate of return (IRR) revealed that sales of larval fish and Azolla sp. at stocking density of 1500 larvae/m3 were not profitable. However, all the other stocking densities were profitable except at 3000 larvae/m3 and water flow rate of 0.25 L/min. Although at all stocking density the revenue were able to cover the variable costs, this study recommends stocking at 3000 to 4500 larvae/m3 and water flow rate of 0.75 L/min and 1.00 L/min.