Business Development Department
Are you looking for advice, guidance or financial support to start or expand your business? Whatever your size, whatever your specialty, Kakivak has programs and people available to help you achieve your goals.
Kakivak’s Business Services Department offers a range of services that assist Inuit in the Qikiqtani Region to investigate, plan, establish, manage and expand their own businesses. Our goal is to help create viable and successful Inuit owned businesses that provide employment opportunities for the owners and others within our communities.
Our Business Development Officers are available to provide advice and assistance in order to help you on your way to success. Make an appointment to come in and see us, or call our toll-free number.
Makigiaqvik LoansMakigiaqvik Loans are available to eligible Inuit owned businesses that require financing to establish or expand their business. Our Business Development Officers will work with you to find the best financing available for your business development project, including a combination of grant contributions and a Makigiaqvik Loan.
- Up to $50,000 in secured term loans with a fixed interest rate of 81/2 %
- Repayment schedules up to 7 years
Sivummut Grants to Small BusinessesSivummut Grants are available to eligible Inuit owned businesses to support the establishment or expansion of their business. Our Business Development Officers will work with you to find the best financing available for your business development project, including a combination of grant contributions and a Makigiaqvik Loan.
- Up to $5,000 for business pre-start up
- Up to $10,000 for business start-up
- Up to $10,000 for business expansion
- Maximum of $25,000 in total grants per business
- Additional support available to help train you to run your business
Small Tool Grants
Artists or craftspeople can apply for funding to assist with the purchase of tools and supplies.
- Up to $1,000 to assist with the purchase of carving tools. Eligible applicants can receive a small tools grant once every five years.
- Up to $2,500 to assist in the purchase of sewing machines. Eligible applicants can receive a sewing machine grant only once per lifetime.
Economic Opportunity Fund (EOF)
Tourism-based businesses operating in the six communities adjacent to the National Parks located in the Qikiqtani Region can apply for funding under the Economic Opportunity Fund. These communities are: Grise Fiord, Resolute Bay, Arctic Bay, Pond Inlet, Qikiqtarjuaq and Pangnirtung.
- Up to $10,000 in grant funding is available each eligible applicant and project. Eligible applicants can receive a grant each year.
- Projects can include new equipment, safety gear and marketing initiatives. EOF grants can be combined with other funding to finance larger projects.