Over $7 million in relief and recovery funds flow to over 180 Yukon businesses
Whitehorse, Yukon - Canadian Northern Economic Development Agency (CanNor)
COVID-19 has had a severe impact on businesses of all sizes, and those whose livelihoods depend on them. In Yukon, businesses have faced challenges keeping their employees, paying rent and managing cash flow.
From the outset, the Government of Canada has taken action to support them, most notably through the territory-specific Northern Business Relief Fund (NBRF) and the pan-Canadian Regional Relief and Recovery Fund (RRRF). Significantly increasing the budget of CanNor and the other regional development agencies, the RRRF supports businesses unable to get access to other relief measures, while the NBRF is tailored to the unique needs of Northern businesses.
To ensure that as many Yukon businesses as possible benefit from these programs and the Yukon Government's Yukon Business Relief Program, CanNor and the territorial government have been working closely to streamline the application process. This collaborative approach ensures that more Yukon businesses are eligible for relief, and that funds quickly reach those who need them most. As the economy reopens, the federal government continues to make major investments to protect jobs and support Yukon businesses.
Jobs for Yukoners
Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for CanNor, announced that more than 180 businesses across Yukon have received over $7 million in support from the NBRF and RRRF. To protect local jobs, support businesses through these challenging times, and help them play a role in our economic recovery, over 180 Yukon SMEs and non-profits have received direct financial assistance of up to $100,000 from CanNor.
Supporting good jobs in communities across Yukon, these local businesses are the backbone of the Northern economy. They include SMEs from a variety of sectors: from accommodations and food services (54 SMEs), to tourism (39 SMEs), to retail (19 SMEs). With the effects of COVID-19 continuing to have an impact, CanNor is extending financial support to current eligible recipients of the NBRF program.