Contributions
Business Development Project Fund
Funding from this program can be used for start-up expenses, expansion, raw materials (for arts and craft production) and short-term projects that create employment opportunities. Start up and expansion expenses can include acquisition of assets, marketing, completing feasibility assessments, business plans and research projects. To fund an expansion in a level I community the applicant must demonstrate potential of creating new employment.
The maximum amount available, in any five year period, is $10,000 for businesses in level I communities and $20,000 for businesses in level II communities. Only businesses with less than $500,000 in revenues, artists or crafts-persons, or renewable resource harvesters are eligible to apply for this funding.
Level I communities include Yellowknife (including N’Dilo), Hay River, Fort Smith & Inuvik. All other NWT communities are considered level II.
For more information on the BDIC’s contribution programs, please contact Chris Taylor, Manager of Operations and Business Programs at 867-873-7386 or toll free at 1-800-661-0599.