This program is designed for businesses like yours to help you grow and attract more visitors. It offers funding to reinvent, improve, or expand your tourism products and operations. This can be a game-changer for your business, providing the financial support you need to stay competitive and meet future market demands.

Why Apply?

• Up to $25,000 for business planning and transition assistance.
• Up to $250,000 for product development and enhancement.
• Up to $10,000 for marketing assistance.

What's in It for You?

• Business Planning: Funds can be used for developing business plans, consulting fees, and obtaining a Tourism Operator Licence.
• Product Development: Use the funds for start-up costs, capital acquisition, skills upgrading, and website development.
• Marketing: Allocate funds for travel to trade shows, brochure development, launch campaigns, and website modifications.

This program offers better financing options than others because it is backed by the government and has a low equity requirement of just 15%. Approval can significantly boost your business by providing the necessary resources to enhance your offerings and attract new visitors. The application process is straightforward, making it easy for you to qualify and benefit from this opportunity.

Type of Financing: Grant

Repayment Terms:

• No repayment required.

Eligible Expenses:

• Business Planning and Transition Assistance: Consulting fees, business plan development, costs related to obtaining a Tourism Operator Licence.
• Product Development and Enhancement: Start-up costs, capital acquisition, skills upgrading, services or amenities upgrading, website development, development costs associated with product offerings.
• Marketing Assistance for Tourism Businesses: Travel to trade shows, brochure/pamphlet development, launch campaigns, development/modification of websites.

Use of Funds:

• Funds can be used to re-invent, improve, or expand tourism products and operations.
• Funds cannot be used for expenses outside the specified eligible categories.

Fees:

• No fees associated with the program.

This program offers a great opportunity to enhance your tourism business. You can receive funding to re-invent, improve, or expand your tourism products and operations. Here’s how it works:

Business Planning and Transition Assistance: You can get up to $25,000. This money can be used to develop business plans, enhance existing products, or create new ones. It covers costs like consulting fees and business plan development. You need to contribute 15% equity, which can include sweat equity.

Product Development and Enhancement: You can receive up to $250,000 over one or multiple years. This funding can help you develop new tourism products or enhance existing ones. It covers costs like start-up expenses, capital acquisition, skills upgrading, and website development. You need to contribute 15% equity, which can include up to $10,000 in existing capital or sweat equity. You can re-apply for this funding after five years.

Marketing Assistance: You can get up to $10,000 to support marketing projects. This can include travel to trade shows, brochure development, launch campaigns, and website modifications. A 15% equity contribution is required.

This program is designed to help your business grow and attract more visitors to the Northwest Territories. Take advantage of this funding to boost your operations and reach new markets.