In the Philippines, small-scale fisheries, as common pool resources, remains beset by the problems of resource degradation and widespread poverty in coastal communities. With the CBCRM movement in the Philippines entering its second generation, there have been both successes and failures. On one hand there have been substantial gains in the area of resource conservation but this stands in stark contrast to assertions of small-scale fishers that they do not benefit economically from their crucial role in coastal resource management. To address this situation, organized fisherfolk and their support organizations are giving added emphasis on livelihood and enterprise initiatives at the community level which means development of value-added fishery products and marketing systems to foster their participation in the national and global economy if they so choose, taking into account the optimal balance between production for local food security and for the market. To deepen the investigation into the situation of small- scale fishers vis-à-vis other economic players at the local, national and global level, value chain analysis will be utilized as a tool from which to develop a framework that can inform both the development of local livelihood and enterprise initiatives and the formulation of appropriate public policy. Value chain analysis would focus on the dynamic of interlinkages in the fishing industry and describe the full range of activities required to bring fishery products from capture/culture, through the different phases of production and delivery to final consumers.