The GNWT has partnered with the Canadian Northern Economic Development Agency (CanNor) to provide additional support to small businesses that are experiencing difficulties as a result of the recent wildfire crisis and territory-wide evacuation.
According to the GNWT, CanNor has contributed $1 million in funding to support the GNWT’s business relief efforts, matching the GNWT’s SEED Policy.
“CanNor has been there with financial support for northern businesses before and we continue with our support now to help businesses rebound and recover,” NWT MP Michael McLeod says.
The GNWT adds that through the SEED Policy, emergency funding has already been provided to several NWT businesses.
With the new funding the Directive for the SEED Policy has been amended to increase the maximum assistance to $10,000 for Yellowknife, Jean Marie River, Kakisa, Rae, Edzo, N’Dilo, Dettah and Wekweeti businesses, $15,000 for Fort Smith and Sambaa K’e, $20,000 for Hay River and K’atl’odeeche, and $3,000 for businesses in non-evacuated communities.
“Small businesses are at the heart of Northern communities, and our government will continue helping them as they recover and grow the economy of the Northwest Territories,” Federal Minister of Northern Affairs, PrairiesCan and CanNor Dan Vandal says.
Additionally, the GNWT says businesses that already received funding for wildfire relief under the SEED Policy can receive up to the limit for their region as long as they continue to meet the program criteria.
The directive amendments take effect immediately and will remain until March 31, 2024.
