The improvements are part of a new initiative by Aboriginal Business Canada and the Department of Indian Affairs and Northern Development. Together, they are contributing $4.5 million to support economic development in the territory.

"The funding is a new set of tools we can use to help people," said Brian McLeod, a member of Nunavut's community economic development organization (CEDO).

CEDO brings together economic development associations from across the territory's three regions -- Baffin, Kitikmeot, and Kivalliq -- to work on Nunavut-wide projects. It has been appointed to administer the money received from ABC and DIAND.

ABC is providing $3 million over the next three years to support tourism and youth-related business development initiatives in Nunavut. ABC is also contributing another $1.17 million for training and co-ordination of these programs.

DIAND is investing $450,000 to support the establishment of the Nunavut Project Review Committee. This committee is made up of four business leaders nominated by the three regional Inuit associations and Nunavut Tunngavik.

The committee will review and accept applications for funding from ABC in Nunavut.

They will also make recommendations on applications for funding from DIAND.

"It was a very slow process. Now it will be much faster," said McLeod.

Business owner Eric Leuthold hopes this is true.

He is the co-owner of an adventure company in Iqaluit called Polynya. Leuthold and partner Jimi Onalik applied for ABC funding prior to opening Polynya in April, 2000.

Delays in receiving the money set the company back a year, said Leuthold.

The process was so complicated, they actually decided not to accept the money after it was finally approved.

Leuthold thinks creating the Nunavut Project Review Committee is a step in the right direction.

"It boils down to having local representatives that understand our issues," he said.

He hopes the new funding and the way it is administered will work for future business owners, but he said only time will tell.