Independent businesses in Northern BC have received extra help from Northern Development after the organization committed $1.1 million in grant funding for 2020 today (Thursday).
Northern Development has committed $600 grand to the Competitiveness Consulting Rebate program (CCR) and $500,000 to the Northern Industries Innovation Fund (NIIF) program.
CCR, along with NIIF, are programs that directly support small and medium businesses in the region.
“We want to make sure all our small and medium independent businesses continue to build their revenue, even in this time where there’s a downturn and just be able to maintain and sustain their business until things turn around again,” said Holly Plato, Director of Communications and Marketing for Northern Development.
CCR provides a rebate to smaller businesses engaged in manufacturing, innovative technologies, resource processing, transportation, distribution and their suppliers for outsourced consulting services.
These funds can also be used for the Forestry Affected Businesses (FAB) Consulting Rebate, which assists businesses in communities affected by permanent mill closures or curtailments.
This program was introduced last year and will be extended for 2020.
The NIIF program provides funding for small and medium-sized companies engaged in forestry, agriculture, aquaculture, mining, energy, oil and gas, and manufacturing.
“If you have come up with a really innovative idea, something that other companies aren’t doing, that you think would be a significant asset to your business and to the region, that’s something we want to help with as well to ensure that the region itself continues to thrive,” she added.
It will support applied research and development, new or improved services and testing of equipment to support capital investment decisions.
According to Plato, the funding has covered tree-thinning, scallop production, and everything in between.
It also supports economic diversification and viability of businesses to mitigate the economic impact of the pine beetle epidemic.
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