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More help for contractors
New pilot project to assist construction companies in acquiring bidsNathalie Heiberg-Harrison Northern News Services Published Thursday, October 6, 2011
The centre has teamed up with seven other business development organizations, the federal and territorial governments and National Aboriginal Contractors Support Inc. The pilot project works by giving development organizations more resources so they can issue more, or bigger, bid securities on behalf of the contracting authority. If the company wins the bid, the development organization will issue a performance security on their behalf. Any business in the region is eligible and can apply at the Deh Cho Business Development Centre. "There was a need for this. Quite a need," said Dave Patrick, general manager of the NWT Metis-Dene Development Fund. "This will enable Northern businesses to bid on contracts and, of course, if you can't bid on contracts then you don't have any opportunity to obtain that work. In the end, it will keep more money in the North and employ more Northerners." Todd Noseworthy, general manager of the Deh Cho Business Development Centre, said they have provided a similar service in the past but can now do it with the backing of National Aboriginal Contractors Support Inc. and the territorial government. "We're not a bank. We're not funded like a bank. We don't have the capacity like a bank to do hundreds of loans," he said. He estimated they have helped four or five different companies with bid security in the past two years. He hopes that number can grow. "It addresses the needs of people who don't have anywhere to turn," he said. The National Aboriginal Contractors Support Inc. will risk-share with the participating organizations and use its approximately $4 million in assets to help provide bid security. Kitikmeot Community Futures Inc., Keewatin Business Development Centre, Baffin Business Development Corporation, Akaitcho Business Development Corporation, Thebacha Business Development Services Inc. and Sahtu Business Development Centre are also involved in the pilot project. They were chosen to participate because they serve both Aboriginal and non-Aboriginal clients. The program is set to run until March 31, at which time it will be formally reviewed.
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