Northwest Territories COVID-19 Economic Relief
COVID-19 continues to impact businesses in the NWT. To support the business community during this challenging time, the BDIC will be reallocating funding available through its Business Development Project Fund (BDPF) Aftercare initiative. This funding is available effective immediately.
Business Development Project Fund (BDPF) Aftercare Relief will provide enhanced flexibility and funding through BDPF Aftercare up to $2,500 for businesses in level 1 communities and up to $3,500 for businesses in level 2 communities.
Through this funding, the BDIC aims to provide some immediate relief and support to help businesses during the pandemic.
BDPF Aftercare Relief will support new employment and help to maintain existing employment with businesses able to redeploy or reposition existing staff to adapt to changing operational needs. This relief funding will also support businesses in their efforts to create new operating revenue streams and reduce existing fixed overhead costs.
Finally, BDPF Aftercare Relief can support businesses with planning and/or providing financial training related to improving business sustainability. This may include the preparation of business continuity plans; the development of relief and recovery measures including marketing, cash management, and feasibility plans; incremental recordkeeping to facilitate loss mitigation strategies and forward financial planning measures; and the preparation of funding applications.
Learn more about this initiative and complete an application here.
Click here to read the news release.