Published Jul 10, 2024 by Barbara Norton Inflation, operating costs and workforce shortages are the most common challenges facing small businesses in Alaska, according to a new survey.
The Alaska Small Business Development Center survey tracks small business growth in the state and projects future trends. This is the seventh annual report.
Inflation was most frequently cited as the top issue facing Alaska’s small businesses. However, survey respondents identified inflation as an issue for businesses more broadly, rather than an immediate one for their specific business. Only 12% named inflation as their business’s biggest challenge, the third-highest after finding clients or customers and their workforce.
Jon Bittner, the executive director of the center, underscored inflation’s impact on rural small businesses during his presentation for the Anchorage Chamber of Commerce on Monday. For small businesses outside of Anchorage, inflation exacerbates the longstanding issue of high prices, according to Bittner.
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