RANKIN INLET - A group comprised of current business owner Kelly Clark and six future entrepreneurs increased their skills at running their own enterprise in Rankin Inlet earlier this month.

The group completed a business-training course sponsored by the hamlet office.

In addition to Clark, the course was completed by Pallulaaq Friesen, Lucy Manilak, Karyna Kolola, Charmaine Mercer, Simeonie Makpah and Kelly Adams.

Hamlet economic development officer Damian MacInnis said many new businesses have failed in Rankin during the past few years.

He said the best way to teach people how to start a new business successfully is to have them all in one room.

"We brought up Chris Cowx of Vancouver, B.C., to facilitate the course because of his experience in Nunavut, among other things, having worked with the Department of Economic Development and Transportation in Pangnirtung about eight years ago," said MacInnis.

"He covered a wide range of topics, including business name registration, licences and bank accounts, GST and Canada Revenue registration, projected cash flow, acquisition of business assets, suppliers, financing options, insurance, and basic marketing, record keeping, taxes and payroll."

MacInnis said the participants were selected through a questionnaire.

He said final selection for the three-day course depended on how serious the person was on starting a business.

"We didn't want to supply this course to just anyone.

"We wanted to have people who would benefit the most from it."

MacInnis said the participants completed another questionnaire after the course.

He said the responses were gauged from a low of one to a high of 10.

"The lowest grade any part of the course received was an eight and the highest was a 10. So, judging by those scores, everyone responded to the course quite well.

"The next step will be a business-plan workshop in the new fiscal year, which I'll teach on a weekend.

"That way, everything they learned in this course will still be fresh in their minds and they'll be one-step closer to starting their own business."

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