Business Resources
49th State Angel Fund
($ for $ match)
The 49SAF Co-investment Fund is a dollar-for-dollar fund: 49SAF will match new cash equity (or equity-like) investment into any Alaska company up to $25,000, near-automatically. 49SAF has carved out half of this effort’s total capital to create the Building Equity Co-investment Fund to prioritize applications from businesses owned by Black, Indigenous, and People of Color (“BIPOC”). Learn more about eligibility and read their FAQs, or click the button below to apply.
Free Webinars On-Demand
As a Rural Outreach Community Partner with the Alaska Small Business Development Center, this suite of FREE workshops are available to Cordovans on-demand, 24 hours a day, 7 days a week! Webinar workshops currently offered range from:
- Starting a Business
- How to get an AK Business License
- Get your business online with Google
- Starting a Construction Business in AK
- Writing SBIR proposals
- Developing print-on-demand businesses, and more!
Free Small Business Counseling
Cordova Chamber of Commerce is excited to be hosting Alaska Small Business Development Center’s first SBDC portal kiosk at our office at 404 First Street in Cordova. The workstation allows local small business owners to meet “face to face” via distance with the experts at the Alaska Small Business Development Center. These services are free and open to ALL residens, but we ask that you sign up below. Services available include:
Business Milestone Celebrations
Ribbon Cuttings, Anniversaries, Grand ReOpenings
Celebrating business milestones is beneficial to the business, the Chamber, and the community as it draws positive attention to all entities involved and showcases a robust and healthy economy and business community. Whether you’re brand new, moving to a new location, reopening after a hiatus, or celebrating an important anniversary — we’re here to help you spotlight your business! Any member in good standing may request this service, which is available on a first-come-first-serve basis.
Cordova Chamber’s Business Empowerment Series
We believe in Small Businesses and are here to help them grow! Through Cordova Chamber’s Business Empowerment events, you can develop skills and make connections that will lead to a brighter future for you and your business!
Grants
We’re Here to Support Small Business!
Starting a new business is a very exciting prospect, one that requires research, preparation, and often times hard work. It will likely cost more money than you think and will take up more of your personal time and resources than you plan. So why do it? The rewards are plenty: be your own boss, profit from your own labors, provide jobs for your community, offer valued services or products… Plus, when you succeed the success is yours!
Your path to small business ownership may look something like this:
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Write a business plan
Even if your business is already running, it can be really helpful to write a business plan. It gives your business the best possible chance of success by ensuring that you pay attention to both the broad operational and financial objectives of your new or existing business and the details, such as budgeting and market planning. Here’s the great news: our friends at Alaska SBDC can help you put one together for FREE! Scroll up and fill out the form to get more info.
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Find a business mentor
Maybe you already know someone who you look up to professionally. If not, contact us at the Chamber to sign up for a business mentor. Spending time with and learning from others who have been where you are can be invaluable! Scroll up and fill out the form for more info!
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Choose your business location
This can be challenging, but there are resources available. Start by contacting your bank or loan officer to see what you can afford. Then contact a local real estate agent to see what’s available. Sometimes you can even find local, state or national incentive programs to help make this easier. Alaska is a great place to do business, and Cordova is poised for growth. Learn more about business incentive programs…
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Get your finances in order
This often starts with a financial analysis. Again, this is something we can help you work on as part of your Business Plan with our friends at Alaska SBDC. Scroll up and fill out the contact form to get started. Learn more about incentivized loans…
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Settle on the legal structure of your business
Sole proprietorship, general partnership, limited partnership, limited liability partnership, corporation, limited liability company, business trust, non-profit… There are lots of ways to set up your business, and your structure can give you great benefits. Doing your research right away and picking the right fit for your business is essential. Learn more…
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Get a Taxpayer Identification Number with the IRS
A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. It is issued either by the Social Security Administration (SSA) or by the IRS. A Social Security number (SSN) is issued by the SSA whereas all other TINs are issued by the IRS. Learn more…
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Get an AK Unemployment Insurance ID Number
Does every business need Unemployment Insurance (UI) coverage? Most do.
“For UI Tax purposes, any person, firm, corporation, Limited Liability Company, or other type of organization that hires one or more individuals to perform services for its direct benefit during any portion of the day is an employer… Alaska statutes do not provide for UI coverage for self-employed individuals… Out-of-state and multi-state employers must set up accounts for workers who are hired in Alaska and perform work in Alaska. Employers may also be required to report to Alaska the workers who are hired out-of-state and brought to work in Alaska… Fishing operations are excluded under Alaska law when there are less than 10 crew members, and the crew is paid on a share basis. Tender operations and fish processing wages, however, are reportable.” Learn more…
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Get your State of Alaska business license
The City of Cordova requires a State of Alaska business license in order to issue a City of Cordova business license, so do this first. Cordova Chamber also requires both a City and State business license to become a member. Click here to get started.
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Get your City of Cordova business license
Once you have your State of Alaska business license, you can get your City of Cordova business license. This must be renewed annually, and is connected to your quarterly Sales Tax reporting. Click here to get started.
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Join your local Chamber of Commerce
Cordova Chamber of Commerce membership is a sound business decision that can help you start on the right track and open up all sorts of resources for you and your business! We also provide many services to help you spread the word about your business and connect with your customers. Scroll down for more info or click to Learn more…
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Understand your responsibilities as a business owner.
We believe that small businesses are the heart and sole of the community. They provide our goods and services, and support our non-profits and school groups. Learning legal and fair business practices is paramount, and reading our Cordova Chamber of Commerce code of ethics is a good place to start. Joining the Chamber is also a great way to make sure you are on the right track. Learn more…
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Keep accurate records
As you research about starting your business, you will learn about basic bookkeeping and how imperative it is to the success of any business. You may want to start out with a bookkeeping service. Then as you become more comfortable with your business and all that it requires, you may find that using a bookkeeping program like Mint or QuickBooks suits you well. The bottom line is keep good and true records. Track all your expenses and all your income. Track your employees’ hours as well as your own. Work with a tax preparer. Keep up with your accounting on a daily basis and you will find that it will not overwhelm you. For those completely new to business, this Young Entrepreneur’s Glossary may prove very helpful.
When considering opening a new business, there are great resources of which you should avail yourself. Some of the best online sources are the Small Business Administration, the State of Alaska and the City of Cordova. Your bank is also another important resource for your new venture. Work with them in every way possible as you do your research and planning. This is not an exhaustive list and you should do your own complete research and planning. Here are some other helpful resources:
HELPFUL LINKS:
City of Cordova Business License Application
Alaska Small Business Development Center
Internal Revenue Service
State of Alaska – Business
State of Alaska Department of Revenue
US Census Facts – Alaska
Alaska Department of Commerce, Community and Economic Development
Resource Development Council for Alaska