With some businesses still struggling from wildfire evacuation fallout, the Yellowknife Chamber of Commerce announced the launch of its Business Recovery Task Force on Friday.
The task force will tackle direct funding, lobby all levels of government and remind local residents of their critical role in reviving the city’s economy.
“Consumer spending is nowhere near pre-evacuation levels” said Adrian Bell, the chamber’s president. “Restaurants, retail, health and wellness, and many other sectors are wondering where their customers are. People are very worried. We need to pull together as a community, shake off the effects of the evacuation, and support our small businesses.
“The evacuation was incredibly challenging for the small business community, many of whom have not yet seen the return of sales and it will take an entire community effort to revive our small business economy,” he added.
Among the task force’s initiatives are converting the chamber’s annual business awards gala, scheduled for Oct. 20, into a Yellowknife business recovery fundraiser featuring live music. All proceeds from the event will go to a fund to support business recovery, the Chamber indicated in a Friday news release. The business lobby organization is also going to devote its budget for the gala to supporting local business recovery.
“The money raised for the recovery fund will go to support city-wide community events that feature, employ or contract with local businesses and that bring our community together,” the Chamber stated.
In addition, a series of ‘shop local’ campaigns are planned, including the annual pre-Christmas promotion in November, in which the City of Yellowknife is a partner.
The Chamber is going to request that the GNWT increase its Support for Entrepreneurs and Economic Development funding to a maximum of $12,500 for operational expenses, in line with the limit offered during the Covid-19 pandemic. The territorial government will also be asked for “low-to-no-interest loans for businesses impacted by the evacuation while deferring payments on existing loans.”
The federal government will be approached for aid related to climate change and natural disasters so Yellowknife businesses can proceed with “continuity planning.”
The Chamber intends to work with the municipal government on the process by which businesses are deemed essential during emergencies, aiming for transparency and fairness.
Gaps in insurance coverage will be addressed with the insurance industry and the GNWT.
The Chamber also plans to highlight existing financial supports for businesses so its members are aware of options.