INUVIK - Members of the business community voiced their concerns about the local economy and gained ideas on how to take advantage of business opportunities at a two-day workshop held by the NWT Department of Industry, Tourism and Investment last week.

Michel Lemieux: Manager of trade and investment for Department of Industry, Tourism and Investment leads business workshops. - NNSL file photo

The Economic Success conference offered business people from across the Inuvialuit Settlement Region a forum to discuss their worries and how to increase business. The conference ran on April 13 and 14 at the Midnight Sun Complex and had approximately 25 participants from the region.

"This conference opened us up to local businesses and let us know that help is here," said Lee Smallwood, president of the Inuvik Chamber of Commerce. "We would like to see more of these workshops. It was a great concept and had great information. The business community of Inuvik will benefit from further economic development workshops like this."

Presentations included the viability of arts and crafts as a business, available loan programs, the potential in tourism and how to create business opportunities when companies invest in the community. The majority of concerns were around barriers to success and a lack of information about human resources, accounting and sources of funding.

Smallwood said while Inuvik's economy is not in a bad state, it's not increasing either and these workshops can provide a vision to current business owners and future entrepreneurs on what could work in their own community.

Michel Lemieux, manager for trade and investment with ITI in Inuvik and an organizer of the event, said even with the Mackenzie Valley Gas Project and the potential for the road between Inuvik and Tuktoyaktuk, the economy appears to be on hold.

"No one is investing money like they want to because they want to see what will happen in the region," Lemieux said. "We were very realistic about what businesses could be offered in the communities. You wouldn't put a car dealership here, but a convenience store, B&B or restaurant are safe bets."

The workshop highlighted where Northerners spend their money and what type of businesses will profit from local money, which tends to be spent on services. Products, however, tend to be purchased from outside the NWT.

"There is room for more product-based business, with the proper funding and help with funding. Now we have to get the new entrepreneurs started," Smallwood said. "You will see that after the election is over and the political scene has stabilized. It'll be safe to try a business if there's no election for the next two years."

This was the first economic development workshop in the Beaufort Delta in five years. Lemieux hopes to continue offering them and visit the communities outside of Inuvik.

We welcome your opinions. Click here to e-mail a letter to the editor.