Consulting reigns supreme among Iqaluit businesses: report

Consulting is the largest sector among registered businesses in Iqaluit, according to statistics presented to a committee meeting by city economic development officer Dominik Gagné on June 16.

Following the launch of a new business registration portal last November, there are 495 registered businesses in Iqaluit, according to Gagné. Of those, 51 are consulting services, which provide a range of strategic advice that includes research and regulatory process navigation.

“The number of consulting businesses reflects Iqaluit’s project-based economy, and encouragingly, many are locally based — with residents potentially transitioning into consulting and home-based work during the last few years,” reads a statement from the Baffin Regional Chamber of Commerce, which executive director Rowena House sent to Nunatsiaq News.

Also registered with the city are 39 retail businesses, 36 accommodation and food services, 29 non-profits and 26 construction companies, according to figures in Gagné’s presentation.

While most businesses in Iqaluit operate on a property with a fixed business address, there are 116 home-based businesses, according to Gagné’s presentation.

There 46 registered “non-resident” registered businesses, as well as six “hawker” businesses, which refers to businesses that operate in a mobile capacity.

“We continue to see strong representation in consulting, retail, professional services, construction, hospitality and support services, which reflects the continued strength and diversification of the local economy,” Gagné said in his presentation.

He said the city is upgrading the business registration portal for next year and working to support the business community through workshops and better infrastructure, Gagné said.

“We continue to identify a need for affordable commercial space, particularly for new and emerging businesses looking to establish themselves here locally and have a foot on the ground,” he said.

House, with the chamber of commerce, echoed a similar sentiment.

“Iqaluit has a strong base of entrepreneurs,” House said. “Working in partnership with the city, the next step is ensuring those businesses have the conditions to grow — through better access to space, infrastructure, and opportunities — so we are building long-term economic strength, not just maintaining numbers.”