$4M now available through N.W.T. government for businesses with post-COVID-19 recovery plan
N.W.T. government has topped up the $3.86M originally budgeted for the SEED program
Are you a business owner with a plan for post-COVID-19 recovery? If so, the government of the Northwest Territories has $4 million budgeted to help bring proposals to reality, and is now taking applications.
The money was initially budgeted at $3.86 million in the 2020-2021 interim appropriation budget, but has been topped up, according to a news release Monday, through a reallocation of internal funds.
The SEED (Support for Entrepreneurs and Economic Development) program is a project of the Department of Industry, Tourism and Investment, and will "work to prioritize applications from N.W.T. businesses whose proposals focus on economic recovery." According to the news release, "the SEED program will be used to help businesses recover as the COVID-19 pandemic subsides and encourage new, innovative proposals that reflect the realities of the new post-COVID-19 economy."
"With federal initiatives providing immediate relief for businesses, the government of the Northwest Territories is focusing its resources on what comes next for our business community, recovery," states Industry Minister Katrina Nokleby in the press release.
"Our business community will need ongoing support as they rebuild, rehire, and revitalize."