Small businesses that have been impacted by wildfires and evacuation orders may now be eligible to access additional government funding.
Due to the ongoing challenges and the unprecedented scale of the wildfire season, the GNWT and the Canadian Northern Economic Development Agency (CanNor) have enhanced the Support for Entrepreneurs and Economic Development (SEED) policy with an additional $1 million in funding from CanNor, matching the territorial government’s existing budget for that purpose.
The additional funding, announced Oct. 6, also comes with an expanded list of eligible expenses and a lengthened time frame for applying.
According to a news release, the SEED policy provides emergency funding to small businesses that have experienced income loss, property damage or increased costs due to the wildfires and evacuations. The policy was implemented in May.
The new funding will allow businesses to access more support based on their location and situation. The maximum assistance available for businesses in Yellowknife, Jean Marie River, Kakisa, Rae, Edzo, Ndilo, Dettah and Wekweeti has been increased from to $10,000 from $5,000.
For businesses in Fort Smith and Sambaa K’e, the limit has been raised to $15,000 from $10,000.
For ventures in Hay River and K’atl’odeeche, the limit has been increased to $20,000 from $15,000.
For businesses in non-evacuated communities that have incurred extra costs because of evacuations in another community, the limit has been set at $3,000.
“These increases mean businesses can access even more support to offset eligible costs incurred through wildfire evacuations. In addition, the (update) has expanded the list of eligible expenses and the time frame during which eligible expenses will be taken into account. It now includes a period of up to two weeks after the evacuation order is lifted, allowing businesses to adequately prepare for restarting their operations,” the news release reads.
The revised funding and policy amendments will remain in effect until March 31, 2024. Businesses that have already received funding under the SEED policy can receive up to the new funding limit for their region if they continue to meet the program criteria. Applications for relief costs dating back to May 2023 are eligible, but they must be supported by receipts or equivalent proof for evaluation.
Adrian Bell, president of the Yellowknife Chamber of Commerce, recalled his own experience as a business owner, stating that a month without revenue but with continued rent payments would have been unsustainable without external help.
While acknowledging that the federal government had provided support during the pandemic with loans and wage subsidies, Bell noted that the late summer evacuation didn’t receive the same level of response.
However, he praised the government’s decision to double SEED funding to $10,000 in Yellowknife.
“We certainly consider it a partial victory,” he said.
Bell elaborated on the efforts made by the Yellowknife Chamber of Commerce to lobby for increased government support.
“We did a jurisdictional scan to see what have they done in the past for other situations like the pandemic and what have other jurisdictions done in the wake of evacuations or property losses as a result of natural disasters,” he explained.
The chamber requested an increase in grants to $12,500, similar to what was provided during the pandemic.