Kenai Peninsula Industry Outlook ForumNolan Klouda

January 8, 2020

Baskerville Typeface for Report Title

From 2005-2014, young firms created 89% of Alaska’s net private employment growth

New employer firms in Alaska

*Source: Census BDS

+900-1,000 new businesses with employees each year

Alaska jobs created by new firms

*Source: Census BDS

+4,000-5,000 jobs per year

*Source: Census BDS

Jobs created by startups

Startups Provide the Net Margin of New Jobs

*Source: Census BDS

½ of Firms Fail by Year 5Only 50% of firms survive to Year 5

*Source: Census BDS

½ of Firms Fail by Year 5...But surviving firms nearly double in size

*Source: Census BDS

Skagway: 113 firms per 1,000 residents

Kusilvak: 5 firmsper 1,000 residents

Statewide Average: 25 firms per 1,000 residents

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½ of Firms Fail by Year 5High rates of entrepreneurship on the Peninsula

*Source: Census BDS

OK, so what can communities do to grow entrepreneurship?

#1. Education and training

#2. Advising and mentorship

#3. Events with a purpose

“Events that bring entrepreneurs together to learn and connect go a long way toward creating vibrant entrepreneurship ecosystems and with minimal investment.”--Kauffman Foundation, Guidelines for Local and State Governments to Promote Entrepreneurship