The GNWT has increased short-term operational funding for businesses to further support them through the COVID-19 pandemic.
They amended the Support for Entrepreneurs and Economic Development program which provided up to $5,000 to individual businesses impacted by gathering limitations.
The maximum amount available to businesses for short-term operational funding has increased to $12,500.
The SEED program has also been amended to include funding for equipment, training, and new technologies as gathering limitations begin to relax and businesses welcome back customers.
Minister of Industry, Tourism, and Investment Caroline Wawzonek says this amended coverage specifically assists businesses with confirming customers’ Proof of Vaccine Credential.
Wawzonek says the GNWT recognizes that the territory’s small to medium business owners have been faced with significant challenges over the course of the pandemic, particularly in the last couple of months.
“We hope that this increase in operational funding helps to support them as they slowly begin to welcome back customers and adapt to an evolving operating environment,” she adds.
Wawzonek says to date, ITI has received more than 50 applications for the $5,000 operational support funding.
The total amount of funding available for this initiative is $750,000 and will remain in effect until March 31st, 2022, as long as public gathering limitations are in place or until the allocated funding is spent.