Bookkeeping Initiative Relaunched for NWT Businesses

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Today the Government of Northwest Territories (GNWT) announced the relaunch of its successful bookkeeping initiative to support businesses in accessing financial planning advice.

Eligible businesses can apply for up to $7,500 or 90 percent of the actual cost for obtaining the financial and technical advice required to allow them to make informed investment decisions and better position themselves for sustainability and growth.

In addition to offering balanced books and financial statements, today’s launch includes financial planning for businesses that already have their books in order. Business owners can review goals and determine where they would like to take their business with the guidance of a professional financial planner.

With the original launch of the bookkeeping initiative in January 2021, the GNWT, through the Department of Industry, Tourism and Investment (ITI), has supported 123 Northwest Territories’ businesses to the total amount of $672,765.

Quote

“We applaud the efforts that businesses are taking to pivot towards economic recovery as global vaccination efforts become more successful. NWT small to medium businesses have had to change their business models dramatically, and we will continue to respond to their needs as they continue to adapt to the environment. Assistance with their financials to plan their recovery is not only an investment in the network of people serving their communities but also in the larger economic recovery of the NWT.”

- Caroline Wawzonek, Minister of Industry, Tourism and Investment

 

Quick facts

  • Over the past 18 months, ITI has provided more than $17 million specifically to support COVID-impacted small to medium businesses, including tourism operators.
  • In 2020, there were approximately 24,000 employees in the NWT, with nearly 30 percent of them working in small businesses across the territory.

 

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For media requests, please contact:

Jacqueline McKinnon
Industry, Tourism and Investment
Government of the Northwest Territories
Jacqueline_McKinnon@gov.nt.ca
1-867-767-9202 ext. 63039