Operational Support Funding Available for NWT Businesses

Yellowknife — September 24, 2021

Today the Government of Northwest Territories (GNWT) announced that Northwest Territories (NWT) businesses impacted by recent public health measures can now apply to GNWT’s Support for Entrepreneurs and Economic Development (SEED) Program for assistance with ongoing operational costs.

Up to $5,000 is available to individual businesses that have been impacted by gathering limitations. This short-term funding will help to cover ongoing operational costs such as rent and utilities for businesses that have experienced operating deficits since the outbreak in early August. Applications will be received and evaluated on a first-come first-served basis.

The total amount of funding available for this initiative is $750,000 and will remain in effect until March 31, 2022, as long as the public health measures are in place or until the allocated funding is spent.

Quote

“The GNWT remains committed to supporting businesses of all sizes across the NWT in their efforts to recover from the economic impacts of Covid-19. We remain keenly aware that businesses across the territory are affected by the ebbs and flows of the pandemic and with these latest and most significant outbreaks, it became apparent that the NWT’s small and medium businesses were most at risk. We hope that this relief funding helps provide a buffer over the short-term as we continue to monitor the environment.”

-Caroline Wawzonek, Minister of Finance; Minister of Industry, Tourism and Investment

Quick facts

• ITI has introduced the SEED Ministerial Directive for the 2020-2021 and 2021-2022 fiscal years to directly respond to the impacts of the pandemic.
• One of the core strengths of the existing SEED Policy is that it allows for flexibility and for regional offices to respond to local economic circumstances as well as unique opportunities within their region.
• The GNWT has acted to mitigate the economic impacts of this crisis by investing in the economic well-being of NWT industry and businesses through both existing programs and the development of new initiatives. Some of the highlighted programs include:
  • the Support for Entrepreneur and Economic Development (SEED) program;
  • the new tourism programs implemented by the GNWT over the past year, which include:
    • the Growth and Recovery by Investing in Tourism (GRIT) fund;
    • the Pandemic Relief Extension Program (PREP) for licensed tourism operators;
    • the Supplement for Tourism Accommodation Relief (STAR) Program for accommodation providers who have three or more rooms; and
    • the newest Tourism Relief Investment Program (TRIP) for licensed tourism operators and tourism-related businesses.

Related links

• SEED
• GRIT
• PREP and STAR
• TRIP

For media requests, please contact:
Jacqueline McKinnon
Department of Industry, Tourism and Investment
Government of the Northwest Territories
jacqueline_mckinnon@gov.nt.ca
767-9202 x 63039

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