Alaska SBDC and small businesses see economic recovery in their future
The 2021 Annual Small Business Survey Report shares data-driven insight on Alaska Small Businesses during pandemic recovery.
Anchorage, Alaska – The Alaska Small Business Development Center is proud to share the release of its 5th annual Small Business Survey Report.
Almost 700 Alaska businesses responded to the 2021 survey, providing one of the most complete overviews of how the state’s small business sector has fared during the COVID-19 pandemic and the more recent economic recovery.
“Overall, this survey found that businesses were much more optimistic about the economic future,” notes Alaska SBDC Executive Director Jon Bittner, “In 2020, for the first time since the Alaska SBDC launched the survey, more businesses thought the economy would get worse rather than improve in the next 12 months. In 2021, the trend flipped back into more positive than negative outlooks.”
There are still a variety of barriers that businesses will have to overcome, however. Shipping costs, the rising cost of goods and finding employees were all listed as significant roadblocks to recovery.
“Alaska needs to help its businesses transition from a hunker down to a sprint forward mentality. The rest of the country is beginning to recover and we can’t afford to be left behind,” Bittner said.
Securing funding, growing the available workforce and economic stability were all listed as things businesses needed to thrive and grow in 2022. The Alaska SBDC joins our businesses in their optimism for the future and looks forward to a year of growth for our industry sectors and communities.