Alaska witnesses Entrepreneurial surge amidst pandemic

Multiple people were tossed between jobs during the pandemic, as household wealth and life priorities shifted, Americans are looking for alternative means of employment. 

This is the particular case in Alaska where the economic recovery is considered to be lagging compared to other states, the residents, however, beg to differ. As the pandemic set in Alaska witnessed a surge in entrepreneurial ventures, Alaskans started their own enterprises either because they lost their jobs or were not satisfied with the 9-5 schedule. Attorney Andrew Mitton who helps set up small businesses said that he has noticed an increased number of residents starting new businesses, which might be a byproduct of the state waiving the business license fee. In a move to stabilize the economy, at the start of the pandemic, the state of Alaska eliminated business licensing fees. As a result of this, state records show that more than 26,000 licenses were taken out during the following fiscal year. More than 21,000 employers were registered to pay the employee payroll tax. 

One Anchorage woman started a microgreens business in her garage asher job didn't give her enough flexibility. Another resident inspired by her friends started a clothing boutique. An Anchorage man started three different ventures out of which one stuck, it said to have doubled his income compared to his corporate job. Overall, multiple businesses seem to be doing well in Alaska even though they took roots during the pandemic. 

Alaskans believe that this sudden fear forced them to reflect upon their lives and make some changes. 

Source: Anchorage Daily News