海角禁区

Anchorage, Alaska 鈥� May 21, 2025 鈥� Despite growing uncertainty in early 2025, Alaska鈥檚 entrepreneurs delivered powerful results throughout 2024. The Alaska Small Business Development Center (Alaska SBDC), based at the 海角禁区, released its 2024 Annual Report today, highlighting a record-setting year of small business growth and innovation across the state. Despite inflation and economic headwinds, Alaska entrepreneurs launched 132 new businesses, reported $82.7 million in sales growth, and secured millions in capital with support from the Alaska SBDC.

鈥淔or nearly 40 years, the Alaska SBDC has helped Alaskans turn ideas into income,鈥� said Jon Bittner, State Director of the Alaska SBDC. 鈥淚n a year of significant economic pressure, Alaska鈥檚 entrepreneurs showed remarkable resilience. In 2024, we saw how targeted advising, strong partnerships, and access to capital delivered real, lasting results, especially in underserved communities. That support will be even more critical as businesses navigate fresh uncertainty in 2025.鈥�

Statewide impact in 2024:

• 132 new businesses launched
• $82.7 million in reported sales growth
• $60.9 million in capital secured
• 3,183 jobs supported
• 1,685 clients served in 105 communities
• 93 workshops delivered to 1,449 attendees

Expanding access to capital

In 2024, Alaska SBDC clients secured $60.9 million in funding through a combination of personalized advising, technical assistance and innovative financing tools. Highlights include:

• $32.7 million raised directly with Alaska SBDC鈥檚 support, including venture capital, owner equity, grants, SBA-backed loans, and alternative financing.
• $20.8 million in loans closed through the State Small Business Credit Initiative (SSBCI).
• $7.2 million in financing provided by the Alaska SSBCI Tribal Consortium through 16 loans in its inaugural year.

The Tribal Consortium launched in August 2024 and attracted national attention when U.S. Treasurer Chief Malerba visited 海角禁区 to celebrate the program鈥檚 debut. Alaska SBDC stands out as the only organization managing both Tribal and State SSBCI programs.

Innovation through specialized programs

Beyond funding and advising, the Alaska SBDC is pioneering tools and training to help businesses stay competitive in a changing economy.

• AI Resource Program: In its first year, this national model for digital transformation deployed 30 custom AI tools, conducted 80+ consultations, and supported 62 SBDCs nationwide.
• BuyAlaska: Serving 1,175 businesses in 55 communities, BuyAlaska expanded into visitor markets through cruise partnerships and launched the B2B Exchange 鈥� a statewide platform developed with the Alaska MEP.
• TREND Program: Awarded nearly $50,000 in Phase 0 grants to five Alaska innovators pursuing federal SBIR/STTR funding for clean water technologies, botanical medicines, and cold-climate agriculture.

Supporting military families and entrepreneurs statewide

As part of its commitment to equitable access, the Alaska SBDC provided free workshops to 184 members of Alaska鈥檚 military and veteran community, including active-duty personnel, spouses and veterans, saving participants over $2,200 in fees and expanding access to business resources across Alaska鈥檚 military bases and remote communities.

"We're meeting entrepreneurs where they are; in urban centers, fishing villages, and hub communities,鈥� Bittner added. 鈥淚n 2024, we supported 105 Alaskan communities. In 2025, we鈥檙e focused on building on that momentum, closing capital gaps, and helping more Alaskans turn their ideas into action."

 

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