Business Development Fund

Business Development Fund - Annual Report 2004/2005 (pdf 554k)
Business Development Fund - Annual Report 2003/2004 (pdf 990k)
Business Development Fund - Recipient Report 2003/2004 (pdf 122k)
Business Development Fund - Annual Report 2002/2003 (pdf 770k)
Business Development Fund - Recipient Report 2002/2003 (pdf 122k)
Business Development Fund - Recipient Report 2001/2002 (pdf 123k)
Business Development Fund - Annual Report 2001/2002 (pdf 1 M)

Investment and Economic Analysis through its regional offices (pdf 59k) delivers two business assistance programs. These are the Business Development Fund (pdf 198k) and the Grants to Small Business (pdf 30k). An annual report on the funding activity of these programs is tabled in the Legislative Assembly each year. Financial assistance is also available from the NWT Business Development and Investment Corporation.

Business Development Fund (BDF)

The BDF is made up of 9 programs schedules; these are roughly tied to the business development process. Contributions may be repayable.

Schedule A-1 Planning and Other Development Cost assists businesses to meet pre-establishment or pre-expansion costs when there is a good possibility of increasing regional sales or displacing imported goods and services. This may include the cost of engineering or other pre-construction costs, feasibility studies, business plans and assisting with legal and regulatory costs. Financial limit - $20,000 for feasibility and/or specified development costs.

Schedule A-2 Pilot or Demonstration Projects assists businesses to establish pilot or demonstration projects to determine/assess the applicability of new technology. Financial limit - $25,000 for any project.

Schedule B-1 Business Creation or Expansion encourages the expansion and development of trade, services, renewable resources and manufacturing businesses through new business start ups or expansions. Assistance is primarily directed to expansion related capital costs. Financial limit - $25,000.

Schedule C Market and Product Development assists businesses to generate and increase sales of NWT products, goods and services to new markets or to develop new products for existing markets. Related costs include marketing and product development expenditures. Financial limit - $10,000 per year to a maximum of $30,000.

Schedule D Business Skills assists in short term management or business training where not available from other sources. Financial limit - $20,000 a year to a maximum of $60,000 for any one business.

Schedule E Business Relief assists businesses in smaller or less developed communities in financial difficulty to identify problems and develop plans to overcome them. Financial limit - $25,000 for any one business.

Schedule G Community Initiatives assists with initiatives that build on local or regional economic development strategies; address impediments to economic growth; and promote the development of a stable, diversified economy. Financial limit - $25,000.

Schedule I Traditional Arts and Fine Crafts - Raw Materials assists Artist and Crafters to purchase raw materials for the production of traditional Art and Fine Craft products for sale. Financial limit - $2,500 in a single application and cannot exceed that amount over a three-year period.

Grants to Small Business (GSB)

Grants to Small Businesses may be provided in overcoming immediate problems involving legal or accounting expenses or to assist with minor capital expenditures. Grants may also be provided to arts and crafts producers and renewable resource harvesters. Financial limit - cumulative total of $5,000 awarded to any applicant.