Fund will help grow and develop Inuit-owned businesses
IQALUIT, May 4, 2105 /CNW Telbec/ - The Honourable Leona Aglukkaq, Minister of the Environment, Minister of the Canadian Northern Economic Development Agency and Minister for the Arctic Council, today signed a three year partnership arrangement with the Kakivak Association to provide service to Inuit-owned businesses in delivering CanNor's Entrepreneurship and Business Development fund, which is part of the Northern Aboriginal Economic Opportunities Program (NAEOP).
The Kakivak Association will accept applications from Qikiqtani region businesses for contributions under the Entrepreneurship and Business Development fund. With their knowledge and experience of the local economy, the Kakivak Association will work with individual and community-owned businesses to identify opportunities to grow and expand small and medium enterprises.
This investment will provide a source of capital that can support Inuit-owned businesses across the region. Supporting small and medium enterprises will help to strengthen the local economy and create jobs for Nunavummiut.
- CanNor is investing $1.5 million to establish an equity fund to support the creation and growth of Inuit-owned businesses in the Qikiqtani region of Nunavut.
- In partnership with CanNor, the Kakivak Association will deliver and administer the Entrepreneurship and Business Development fund, to support business in the Qikiqtani region.
- CanNor works with a variety of partner organization to deliver programs that support Aboriginal businesses across the North.
"Our Government is delivering on its commitment to support economic development in Nunavut and to work directly with Inuit to ensure they benefit. This service delivery arrangement will empower Inuit to become more engaged in the economic development of their communities."
Minister of the Environment, Minister of the Canadian Northern Economic Development Agency and Minister for the Arctic Council
"We are very happy with the establishment of this new partnership with CanNor. This new delivery arrangement is good news for our clients and we are excited about the business development projects that we will be able to support with the program."
Chair of the Kakivak Association Board of Directors
Minister Aglukkaq announces support for business development in Baffin Region
Government of Canada encourages external service delivery
CanNor works to help develop a diversified, sustainable and dynamic economy across Canada's three territories, and delivers on its northern mandate through funding programs, the Northern Projects Management Office and by undertaking policy and research.
SOURCE Canadian Northern Economic Development Agency (CanNor)
For further information: Office of the Honourable Leona Aglukkaq, Ted Laking, 819-997-1441; Canadian Northern Economic Development Agency, Craig Welsh, Communications Advisor, Nunavut Region, 867-975-3722; The Kakivak Association, Leonie Qaumariaq, CEO, 867-979-0911; For more information about CanNor, visit cannor.gc.ca; For more information on Canada's Northern Strategy, visit: northernstrategy.ca