ECONOMIC DEVELOPMENT AND FUNDING PROGRAMS
The Community Economic Development Officer in Chesterfield Inlet has access to a number of programs to assists in funding and development of new or existing businesses in the community. Below you will find a short description of the programs available. If you are interested in applying for any of these programs, contact our Community Economic Development Officer at the Hamlet of Chesterfield Inlet Phone: (867) 898-9206 or Fax: (867) 898-9108.
Small Business Support Program
The objective of the Small Business Support Program is to support small businesses and community-based economic development initiatives by providing assistance to new and existing small businesses through investment in new business attraction, retention and expansion. The Small Business Support Program will enable capable entrepreneurs in Nunavut the ability to take advantage of opportunities Nunavut's emerging economy.
Program provides assistance in three component areas:
- Small Business Opportunities Fund: The funding provided under this policy area will help new and expanding businesses who have identified business opportunities but lack the financial capital they require to take full advantage of these opportunities. The fund will also assist businesses that are facing challenges to develop a recovery plan or to recover assets in the process of a business wind down.
- Entrepreneur Development Fund: The funding provided under this policy area will help to support the acquisition of foundational entrepreneurship and business skills; ensuring the long-term sustainability and viability of businesses in Nunavut.
- Sustainable Livelihood Fund: The funding under this policy area will support small businesses, which employ others, self-employed entrepreneurs, subsistence seamstresses, outfitters or commercial renewable resource harvesters. Under this policy area, individuals or small businesses can access up to $5,000 per contribution ($10,000 lifetime limit).
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Arts & Crafts Development Program
The Arts & Crafts Development Program is designed to assist individual artists, crafts producers, registered societies, community groups and non-profit corporations in accessing funding to produce, market and sell arts and crafts in Nunavut.
Program provides asssistance in the following component areas:
- For individual artists and crafts producers - Schedule A:
Funding assistance is available for the purchase of materials, supplies & equipment, business training or aftercare, marketing support, investing in wholesale and retail aspects of the value-added chain, participating in an arts curriculum, youth programming that supports arts & crafts production, travel to galleries, exhibits and shows to support sales and develop markets and artistic innovation.
- For registered societies, cooperatives, not-for-profit corporations and municipal corporations - Schedule B:
Funding assistance is available for the establishment of shared studio space for producers, training programs, marketing and investing in the wholesale and retails aspects of the value-added chain.
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Strategic Investment Program
The Strategic Investment Program is designed to assist Nunavut Businesses and Communities in two key strategic areas: Equity investment for business and Economic Foundations for communities in Nunavut.
Under the Equity Investment Program, businesses or entrepreneurs can apply for funding to match their equity investment into a project. Under the Economic Foundations for Community Program; the Municipal Government, societies and not-for-profit corporations can apply for funding to support various community economic development initiatives, including the development of local infrastructure.
All applicants and queries under this program should be directed to the Department of Economic Development and Transportation, Government of Nunavut or contact the local Community Economic Development Officer in Chesterfield Inlet. Phone: (867) 898-9206 or Fax: (867) 898-9108. For additional information about Department of ED&T programs and services, visit www.edt.gov.nu.ca.
Download Additional Information and Forms
Financial Assistance for Nunavut
Students (FANS)
FANS is Nunavut’s student financial assistance program: Financial Assistance for Nunavut Students. It is delivered by the Adult Learning & Post Secondary Services Division of the Nunavut Department of Education. FANS was established by
the Government of Nunavut to ensure that financial need is not a barrier to post-secondary education. The objective of the FANS is to stimulate the pursuit of
excellence by recognizing achievement and by encouraging and assisting Nunavumiut to achieve their fullest potential.
Who can apply?
To be eligible for student financial assistance from
FANS you must:
- Be a Canadian citizen or have permanent
resident status (Landed Immigrant);
- Be a resident of Nunavut for at least one year;
- Be enrolling in a program that is at least 12
weeks in length at a designated post secondary
institution;
- Enroll as a full time student and be working
toward a degree, diploma, or certificate.
Download Additional Information and Forms
Nunavut Economic Development Funding and Loan Programs
This program is available to assist start-up/existing businesses, entrepreneurs/individuals (including registered societies/not-for-profit corporations), commercial renewable resource harvesters, outfitters/seamstresses, Nunavut prospectors and municipal governments.
An application for assistance is available from the Government of Nunavut Department, Federal Government and Regional Inuit Organizations or the loan programs website.
For more information on funding, policy and guidelines or the loan programs application, visit the links below.
Business License
For information on Business license/schedule of fees or to obtain a business license from the Hamlet of Chesterfield Inlet (By-Law No. 60 business license Form "A" and "B", Schedule of Fees or application of Schedule "C"); startup business may obtain a business license from the Hamlet office in Chesterfield Inlet.
Finance/Administrative Officer
c/o Hamlet of Chesterfield Inlet
P.O. Box 10
Chesterfield Inlet, Nunavut, Canada XOC OBO
Ph: (867) 898-9951 or Fax: (867) 898-9108
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