Last Updated on August 23, 2023 by Hannah Stevens
The federal government allocates more than $3,706.00 million dollars and an additional local government fund of $3,624.00 million dollars into the business sector annually since small businesses and large corporations are the backbone of economic growth in Alaska. The state of Alaska has 16,418 business establishments, and they are broken down into the following:
Alaska Business Sector Breakdown by Size:
- 9,950 registered businesses in Alaska have 0 to 4 employees. This breakdown includes those who work from home and have sole proprietorship.
- 2,805 registered businesses in Alaska have 5 to 9 employees.
- 1,642 registered businesses in Alaska have 10-19 employees.
- 1,144 registered businesses in Alaska have 20-99 employees.
- 297 registered businesses in Alaska have 100 to 499 employees.
- Over 580 registered businesses in Alaska have over 500 employees.
Alaska Business Sector Breakdown in Service Industries:
- 1,860 registered businesses in Alaska are in the Professional, Scientific and Technical Services sector.
- 1,084 registered businesses in Alaska belong in the Administrative, Support, Waste Management, and Remediation Services sector.
- 2,013 registered businesses in Alaska are part of the Accommodation and Food Services sector.
- More than 1,755 registered businesses in Alaska are also service orientated businesses but are not categorized to the above sectors.
You may also be eligible for grants for small businesses if you work in the agriculture industry. The state of Alaska has more than 1,000 farms.
Small Businesses in Alaska
It is difficult to start and manage a small business in Arkansas. The state spends more than $12,405,674,000.00 US dollars on employee salaries/payroll, and every year, over 1,107 companies declare bankruptcy. The federal government doesn’t provide grants to entrepreneurs for expanding or starting a business. However, small business grants can be granted in Alaska to help business owners start and grow their ventures. Additionally, grant recipients don’t have to repay the grant funding. Therefore, it is worth looking into small business grants to help fund your business.
Contact Alaska financial aid agencies to apply for Alaska business grants..
Recent State Funding Opportunities
Below is a list of opportunities recently published in the local state: