In fact, province wide, it was still relatively new. Uncertainty with regard to technology and the industry's poor track record in Nova Scotia made many banks skeptical of granting credit. In this case, private investment was the most viable alternative for a start-up, with private investors more willing to assume risk than the banks. As a community faced with a crisis in the fisheries, residents also looked to the long-term more so than would a bank. Aquaculture represented a viable alternative for future job creation, and it was crucial that the community encourage local initiatives in the sector.
Private investment is a large, virtually untapped resource for community economic development.
It is hoped that other provincial governments will follow Nova Scotia's example in establishing a regulatory environment that provides credibility and financial incentive to investors.