Agreement with Kakivak Association supporting Inuit businesses in Nunavut

Renewed agreement will promote economic development and employment in the Qikiqtani Region

IQALUIT, Aug. 14, 2018 /CNW/ - Canadian Northern Economic Development Agency (CanNor)

Today the Honourable Amarjeet Sohi, Minister of Natural Resources, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and the Minister responsible for CanNor, announced $2.6 million over three years to the Kakivak Association for delivery of CanNor's Entrepreneurship and Business Development program.

This program supports activities that facilitate the establishment or expansion of Indigenous businesses.

Kakivak Association has worked with CanNor over the last three years to deliver the Entrepreneurship and Business Development program. This partnership saw Kakivak provide start up and expansion capital and business wrap around services for both individual and community-owned Inuit businesses across the Qikiqtani region of Nunavut.

Kakivak's investments to date have supported sectors such as tourism, accommodations, retail, fuel distribution, cultural industries, services, media, and construction. 

Supporting small and medium-sized Inuit enterprises helps to strengthen the local economy and create jobs for Nunavummiut.

Quotes

"The Government of Canada is proud to extend its working relationship with Kakivak Association. Since the start of our partnership we've been able to provide small and medium-sized Inuit-owned businesses with the financial support required to establish and expand businesses that have strengthened the local economy and created jobs."

- Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and the Minister responsible for CanNor.

"Businesses and communities across the Qikiqtani Region have benefited from the partnership between the Government of Canada and Kakivak Association. Businesses, including those engaged in tourism, retail, fuel distribution, construction, and the cultural industries sectors have been able to access funding allowing them to not only start or grow their business, but to also take advantage of the range of support services that that Kakivak provides."

- Honourable Amareet Sohi, Minister of Natural Resources

"We are pleased to continue our partnership with CanNor for delivery of the Entrepreneurship and Business Development program. This program provides the kind of equity investments required to assist with the development of Inuit-owned businesses and is very effective when combined with Kakivak's other programs and services.

- Joe Attagutaluk, Chair, Kakivak Association Board of Directors

Quick Facts

• Kakivak Association is the non-profit economic development organization for the Qikiqtani Inuit Association and serves over 15,000 Inuit across 13 communities in the Eastern Arctic.
• Kakivak has provided total contributions exceeding $3.2 million to support $13.8 million worth of business development projects. The Entrepreneurship and Business Development funding has helped leverage $1.4 million in other contributions and $6.8 million in commercial financing.

Associated Links 

• Additional equity funding for the Kakivak Association fosters growth of small and medium indigenous businesses
• Government of Canada partners with the Kakivak Association to foster economic development

Follow Minister Bains on Twitter: @ISED_CA

For more information about CanNor, visit cannor.gc.ca

SOURCE Canadian Northern Economic Development Agency (CanNor)