Operating a Business in Alaska

If you have ever considered operating a business in Alaska, you will be glad to know that Alaska is one of the more business-friendly states in the nation.  Alaska has had its share of troubles and financial setbacks over the years, however, over the past two to three years, Alaska has enjoyed a thriving economy thanks to better fiscal management and low taxes.

While Alaska is building a reputation as a business-friendly state, there are some things to keep in mind when it comes to doing business in Alaska.  Here at Alaska Air Forwarding, we’ve learned a few things during our many years in Alaska and we have found that there are three important tips to know when starting a business in Alaska.

1. Learn what resources are available for starting a business.
2. Understand the region and the unique challenges of doing business in Alaska.
3. Learn what industries do best in Alaska and how your business may support those industries.

Resources Available for Starting a Business in Alaska

The first step in getting started is to visit the Business Page on the State of Alaska’s website. This page will guide you through the process beginning with a section on Starting a Business that provides information for acquiring a business license, to business resources as well as financial resources that may be available to you.

One of these resources is the AIDEA, Alaska Industrial Development and Export Authority.  This is a Business and Export assistance program designed to assist small and medium-sized Alaska businesses through capital loans, project financing, and refinancing.  Under AIDEA, is the project development program which is designed to provide funding for projects that will advance the prosperity of a certain region of Alaska.  For example, projects that may revive a plant or facility that will manufacture or distribute goods, advancing tourism in Alaska, or any project that may assist in developing Alaska’s natural resources.

The state of Alaska sees the value of supporting and advancing business within the state and thanks to good fiscal policy, in recent years, there are resources available that can provide the funding needed to start a business.  If you have been considering starting a business in Alaska but have hesitated due to lack of funding, spend some time researching the links provided on this page.  You may find that the resources you need to get started are more readily available than you realized.

Understanding Alaska's Terrain

While the business climate in Alaska is very friendly, the actual climate in Alaska is not always so friendly and this can be a challenge when starting a business in Alaska. ARDOR, Alaska Regional Development Organizations are available tincoming-coming businesses understand the various regions of Alaska and the specific challenges of living and doing business in these regions.  ARDOR also maps out the various industries that are the primary sources of revenue within these specific regions, such as fishing, tourism, film and other products that are vital to Alaska’s economy.

When starting a business in Alaska, or growing an existing business for that matter, it is vital to understand how the climate and terrain can impact your business.  There are times, during the winter months, when accessing certain parts of Alaska are almost impossible, posing unique challenges for Alaska businesses.  In fact, this very issue helped to birth and expand the transport industry within Alaska that is so vital to sustaining the economy. Alaska Air Forwarding has played a key role in helping to sustain and grow Alaska’s economy by offering premier shipping services to the most remote regions of the state, enabling commerce to continue even during the long, dark months of winter.

Understanding Alaska’s climate and terrain and knowing what resources are available to you when it comes to shipping items to and from the state will play a key role as you move forward with your new business plan.

Alaska's Thriving Industries

Alaska is home to a number of industries, some of which are unique to Alaska. Understanding these industries and how your new business may benefit from or support these industries is another important piece of the puzzle.  Alaska’s most vital industries are:

1. Fishing
2. Oil and Gas
3. Tourism
4. Film

Alaska’s main export after oil and natural gas is seafood, including salmon, cod, Pollock and crab. However, in addition to these natural resources, Alaska enjoys a thriving tourism industry as well as a newly developed and thriving film industry. In keeping with its business-friendly nature, Alaska has reached out to the film and production industry in recent years, in an effort to expand the Alaskan economy. Alaska offers some of the most spectacular scenery in the world, making it the perfect setting for film and television production crews. This has opened up new business opportunities within the state as production companies have begun to sprout up in various regions of Alaska.

However, getting crews and equipment in and out of certain locations can be a challenge, given Alaska’s terrain. This has provided us here at Alaska Air Forwarding, an opportunity to expand our transport services within the state. We specialize in transporting heavy cargo that initially served Alaska’s fishing industry but has now grown to serve Alaska’s growing film industry as well as the state’s other vital industries.

As you consider the possibility of starting a business in Alaska, take the time to research and study the industries that are currently growing and thriving in the state.  Your new business may provide a support or service to one of these industries or perhaps your business will be the start of another new and thriving industry in the state.  Either way, you will find a wealth of support within the state to help your business grow and thrive in Alaska’s healthy economy.