CanNor, Kakivak Association pair up to support Baffin businesses

Leona Aglukkaq, at left, the minister responsible for CanNor, signed an agreement with Kakivak Association members May 4. (PHOTO COURTESY OF L. AGLUKKAQ/FACEBOOK)

The Canadian Northern Economic Development Agency has signed an agreement with Nunavut’s Kakivak Association to provide support to Inuit-owned businesses, the federal agency announced earlier this week.

On May 4, Nunavut MP Leona Aglukkaq, the minister responsible for CanNor, signed a three-year partnership agreement with Kakivak to deliver CanNor’s Entrepreneurship and Business Development fund, which offers financial support to Aboriginal entrepreneurs across Canada’s three territories.

The partnership comes with a $1.5 million equity fund to support Inuit-owned businesses in the Baffin region where Kakivak already delivers business, employment and training services.

“We are very happy with the establishment of this new partnership with CanNor,” said Enookie Inuaraq, the chair of the Kakivak Association’s board of directors, in a May 4 release.

“This new delivery arrangement is good news for our clients and we are excited about the business development projects that we will be able to support with the program.”

Under the new agreement, Kakivik will accept applications from businesses in the Baffin region looking for financing under the federal fund, and work to expand small and medium-sized, community-based businesses.

In the same release, Aglukkaq said the new agreement will help benefit Nunavummiut directly, by “[empowering] Inuit to become more engaged in the economic development of their communities.”