As we claw our way out of the fallout from the Covid-19 pandemic and the major restrictions put on businesses, clubs and government services, we all need to remember how interconnected we are.
Recent projections from the Conference Board of Canada have the Northwest Territory's economy contracting by 3.3 per cent — a pretty sharp decline from the 5.5 per cent growth that was predicted early in 2020.
This same set of projections also has us facing a loss of 1,200 jobs, putting the territory at 13.5 per cent unemployment and could stay at 11.9 per cent well into next year.
Most, if not all, of the burden is put on the shoulders of the private sector. I've spoken with tour operators who have settled for selling merchandise and many businesses are struggling with how they balance volume with safety.
With close to 80 per cent of the GNWT's revenue coming from Ottawa, the hit in the private sector probably won't be a big blow to the government, but that doesn't really do much for the mom and pop shop going over their books.
Fortunately, as your community newspapers, we've been doing what we can to help our fellow small businesses out. Right from the start of the Covid-19 pandemic, NNSL has conducted the BuyNorth campaign as a service to northern business. We will post messages from business on the page and run in our newspapers along with promotions on social media, free of charge.
So far few businesses up here have taken advantage of this service, but I always say better late than never. If you operate a business in the Beaufort Delta, big or small, please check out our BuyNorth page and see about getting yourself some free publicity.
As we have shown with our recent story on Kristian Binder donating proceeds from face masks to the food bank, there is a clear market for many Beaufort-based businesses that extends well past the geography of the region
Some of history's greatest accomplishments were borne out of seemingly insurmountable odds. Let us help you expand your business.