CanNor renews funding partnership with Kakivak

Amarjeet Sohi, Canada’s minister of natural resources, shown here with Annie Quirke, vice-chair of Kakivak, announced a renewal of CanNor funding for Kakivak’s entrepreneurship and business development program that supports small- and medium-sized Inuit-owned businesses. Over the last three years, CanNor provided $3.2 million, but this year the agency has offered $2.6 million over three years. (PHOTO BY COURTNEY EDGAR)

Kakivak Association will receive $2.6 million in federal funding over the next three years from the Canadian Northern Economic Development Agency to continue its entrepreneurship and business development program.

That’s less money than what was offered during the program’s first funding agreement three years ago. Then, CanNor provided a total of $3.2 million to support business development projects in sectors such as tourism, accommodation, retail and fuel distribution.

Amarjeet Sohi, the federal minister of natural resources, made the announcement in Iqaluit on Tuesday, Aug. 14. He spoke on behalf of Navdeep Bains, the minister of economic development, who is responsible for CanNor.

“We have a reserve of funds on hand that we were able to hold onto in the transition between the agreements, so we didn’t need to draw down as much money as we did last time,” said Glenn Cousins, manager of business services at Kakivak.

“We always have the chance to go back to CanNor and adjust our forecast,”

One of the program’s success stories, said Cousins, is Victoria’s Arctic Fashion. Funding allowed the business’s owner, Victoria Kakuktinniq, to go from making garments at home to having her own store space, Cousins said.

“This is great news. Our innovations and skills plan invests in people because people are the foundation of a strong, vibrant and resilient economy,” Sohi said.

The entrepreneurship and business development funding has also helped leverage $1.4 million in other contributions and $6.8 million in commercial financing.

“This program provides the kind of equity investment required to assist with the development of Inuit-owned businesses and is very effective,” said Annie Quirke, the vice-chair of Kakivak.

Quirke says 32 projects have been completed in this program so far, with a combined total of $13.8 million in value.

“We look forward to the continued success of the services delivered and, most importantly, to the success of Inuit-owned businesses that we are able to support.”