ABSTRACT
This chapter serves as a case study of one island jurisdiction, the Aland Islands, and of some of its successful companies. The emergence of the Aland ferry industry depended on a confluence of favorable conditions including physical, historical, cultural, institutional, political and commercial circumstances. Among these, four key preconditions underlie the founding and long-standing expansion of the Aland ferry industry: geography, culture and history, and markets. Most small island economies need to increase external demand in order to induce business growth. Access to a wider market base is essential for the growth of businesses based in sparsely populated, geographically secluded areas. The chapter presents three examples of contemporary successful business strategies from the Islands: one drawn from the shipping industry, one from the beverage industry and one from web-based gaming. It also discusses the three pathways to economic prosperity in a small island economy.
