The territorial government has created three funding opportunities to help small businesses recover from the COVID-19 pandemic.
The funds make up its larger Labour Market Recovery Program.
The wage subsidy component is for businesses looking to re-hire staff, prevent layoffs, and support employers getting back into business. The wage subsidy can be refunded for up to 52 weeks, retroactive from Apr. 1, 2020. Federal and governmental agencies are not eligible for the funding.
The project fund is dedicated to organizations looking to build economic recovery opportunities. Projects could include: capacity building initiatives, training programs, new service delivery, etc. Federal and territorial agencies are eligible for this fund.
Finally, the community support stream will focus on hiring residents to “address pandemic-related needs” in all 33 communities. The department of Education, Culture and Employment (ECE) says it will be contacting every community to provide the funding.
The GNWT received $3 million from the federal government for the program. All of that will be evenly redistributed to the communities, says Melissa Bannister, spokesperson for ECE.
As for the other two streams, Bannister says there are no set amounts and will depend on the number of applications sent in.
Business owners interested in applying to the program can contact their local ECE office.