Alaska is home to over 16,000 small businesses that make up about 99% of the state’s total businesses. Agriculture, fisheries, forestry, mining, oil, gas, and tourism businesses are the most popular small business types owned in Alaska. Additionally, small business owners often find success in the construction, healthcare, social assistance, retail, accommodations, and food service industries.
If you have employees in Alaska, your small business is required to carry workers’ comp insurance—unless you are considered exempt by the Alaska Workers’ Compensation Board. Workers’ compensation insurance provides medical, disability, death, and reemployment benefits to employees who are injured or killed due to a work-related incident.
Unlike many states, there is no state fund for workers’ compensation in Alaska. Instead, small business owners can obtain workers’ compensation insurance through the commercial market.