Big Deal for Small Family Fishery
Izetta Chambers, owner of Naknek Family Fisheries in Bristol Bay, started the fish processing and packaging business in 2006. She and her family has been involved in commercial fishing since the 1950s and the business has not only grown but consistently provided sustainable fishing jobs for the Bristol Bay region. In August of 2015, Chambers was given the opportunity to further grow the business through a deal with Bristol Bay Native Corp. The deal would require a detailed business growth plan, clear financial projections and a reliable team to carry it all out. As part of that team, Chambers reached out to the Alaska Small Business Development Center to meet with a Business Advisor.
Chambers worked diligently with her Business Advisor Allan Carraway to complete detailed financial projections and a gap analysis (the comparison of actual performance with potential or desired performance). Carroway was able to provide timely feedback and work in concert with Chambers and Cameron Poindexter at Bristol Bay Native Corp to make sure everything was on track and accurate.
“SBDC helped us to analyze our past business performance, and formulate a budget and pro-forma statements that helped us to obtain additional financing. They helped us to analyze those areas of highest growth potential”, said Chambers.
In addition to a successful deal with Bristol Bay Native Corp, Chambers was also able to secure funding from the Foraker Group which allows her to increase the number of jobs they will be hiring for this coming summer.