NWT entrepreneurs can now apply to the Department of Industry, Tourism and Investment (ITI) for support on bookkeeping.
In a press release Wednesday, ITI spokesperson Drew Williams announced that the Support of Entrepreneurs and Economic Development (SEED) Program, will grant up to $7,500 for businesses that require assistance with bookkeeping or financial statements to advance economic recovery.
A total of $400,000 of funding is available for the initiative. The department advised that the program will remain in effect until March 31, 2021 or until all of the allocated funding is spent. Businesses who have already received federal assistance for professional bookkeeping services are not eligible.
“The GNWT applauds the efforts that businesses are taking to adapt and recover during this unprecedented time. In turn, the government is also adapting to meet the needs of NWT-based entrepreneurs and small businesses,” Caroline Wawzonek, ITI minister, said. “We are pleased to be able to address this identified and immediate need for financial assistance to cover the cost of required bookkeeping or to prepare financial statements, to meet the requirements of a funder or investor.”