Small and Inuit Business in Nunavut: The Nunavut Economic Development Strategy - PowerPoint PPT Presentation

1 / 30
About This Presentation
Title:

Small and Inuit Business in Nunavut: The Nunavut Economic Development Strategy

Description:

Inuit values and beliefs require sustainable development. Strategic Priorities 2003-2013 ... Culture & language barriers for Inuit businesses ... – PowerPoint PPT presentation

Number of Views:170
Avg rating:3.0/5.0
Slides: 31
Provided by: cindy128
Category:

less

Transcript and Presenter's Notes

Title: Small and Inuit Business in Nunavut: The Nunavut Economic Development Strategy


1
(No Transcript)
2
Small and Inuit Business in Nunavut The Nunavut
Economic Development Strategy
Rosemary Keenainak, ADM Economic Development
Transportation Government of Nunavut
Monica Ell, Director Business Economic
Development Nunavut Tunngavik Inc.
Presentation to The Nunavut Trade
Show Iqaluit Wednesday, May 5, 2004
3
Small and Inuit Business in Nunavut The Nunavut
Economic Development Strategy
Our current focus is bridging the gap between
strategy implementation
4
The NEDS Planning Process
VISUALIZE Desired Future
DEVELOP Action Plans
INITIATE Build the Team
FRAME Strategic Opportunities
MOBILIZE Implementation
ASSESS Current Reality
LEADERSHIP CIVIC PARTICIPATION
1999
2001
2002
2003
2013
2000
Adapted from Strategic Planning in a Technology
Driven World A Guidebook for Innovation-Led
Development (2001)
5
The NEDS Planning Process
VISUALIZE Desired Future
DEVELOP Action Plans
INITIATE Build the Team
FRAME Strategic Opportunities
MOBILIZE Implementation
ASSESS Current Reality
LEADERSHIP CIVIC PARTICIPATION
1999
2001
2002
2003
2013
2000
Adapted from Strategic Planning in a Technology
Driven World A Guidebook for Innovation-Led
Development (2001)
6
Building the Team
  • Efforts to work in partnership on Nunavut
    economic development began in 1998 - Federal
    Government, GN, and NTI.
  • The Sivummut Economic Development Strategy Group
    (2002-2003)
  • Incorporation of the Nunavut Economic Forum March
    2004 to implement NEDS
  • Appointment of an Executive Director May 2004

7
Creating the Vision
  • The Nunavut Land Claims Agreement
  • The Bathurst Mandate
  • Clyde River Protocol
  • The Naujaat Challenge Working Together
  • Piliriaksaliuqatingiikniq Conference (2002)
  • Community Development Workshop (2002)
  • Conferences with Elders and Youth
  • Sivummut II Economic Development Strategy
    Conference (2003)

8
Defining Current Realities
  • Nunavut Economic Outlook 2001 An Examination of
    the Nunavut Economy
    Conference Board of Canada
  • Nunavut Economic Outlook 2002
  • Public consultations

9
Determining an Agenda
  • 1. Guiding Principles for the Strategy
  • 2. Our Prospects for Economic Growth
  • 3. The Challenges to Economic Growth
  • 4. Focussing on the Fundamentals
  • 5. Our Strategy Make this Decade a Period of
    Capital Formation
  • 6. Strategic Priorities for Development,
    2003-2013
  • 7. Taking Action for Sustainable Economic
    Development

10
Nunavuts Mixed Economy
LAND-BASED ECONOMY
WAGE-BASED ECONOMY
MINING TOURISM COMMERCIAL FISHING FISH
PROCESSING ARTS ECONOMY PUBLIC SECTOR SMALL
BUSINESS OIL GAS
OUTFITTING PROSPECTING ECO-TOURISM CLOTHING
DESIGN CARVING SEALING SECURITY
HARVESTING FISHING MAKING TOOLS CLOTHING
11
Nunavuts Mixed Economy
LAND-BASED ECONOMY
WAGE-BASED ECONOMY
MINING TOURISM COMMERCIAL FISHING FISH
PROCESSING ARTS ECONOMY PUBLIC SECTOR SMALL
BUSINESS OIL GAS
OUTFITTING PROSPECTING ECO-TOURISM CLOTHING
DESIGN CARVING SEALING SECURITY
HARVESTING FISHING MAKING TOOLS CLOTHING
12
Challenges to Economic Growth
  • Population Growth
  • Young, and growing rapidly need education and
    training
  • Rate of Government Spending
  • Will slow down with the completion of the new
    government
  • Role of Small Business
  • Must become more prominent in the economy
  • Maintaining our Relationship to the Land
  • Inuit values and beliefs require sustainable
    development

13
Strategic Priorities 2003-2013
OUR TERRITORIAL ECONOMY
OUR COMMUNITY ECONOMIES
THE LAND
OUR PEOPLE
  1. Respecting the Land
  2. Maintaining our Mixed Economy
  3. Building on the Knowledge of Our Elders
  1. Economic Development for our Youth
  2. Education Training
  3. Basic Needs Housing, Hospitals and Schools
  1. Putting the NLCA to work
  2. Sector Development Support Systems
  3. Infrastructure From Buildings to Broadband
  4. Accessing the Global Marketplace
  1. Community Capacity Building and Organizational
    Development
  2. Small and Inuit Business Development
  3. Building the Knowledge Base in Our Communities

14
Developing PrioritisingAction Plans
  • Specific strategies for achieving the vision
  • Outline objectives and an approach to achieving
    the objectives
  • Identifies the near-term and longer-term actions

15
Nunavut Economic Forum
  • Promote economic development in Nunavut
  • Ensure representation from all players
  • Build upon NEDS foundational work
  • Identify immediate priorities
  • Build consensus to move forward
  • Set the agenda for implementation

16
INACs Northern Strategy
  • 90 M for three Territories
  • Nunavuts share may be up to 30 M
  • 3 M to Nunavut in 2004-2005 for immediate
    priorities
  • Hon. Andy Mitchell, Minister of INAC
  • In favour of community-based approach
  • GN NTI have emphasized NEDS priorities
  • Collaborative Structure is NEF

17
Mobilizing for Action
  • NEF to bridge gap between preparation of NEDS and
    implementation
  • Proposals presented by NEF members
  • Action plans outline the goals objectives
  • Specifies the requirements for implementation
  • Outlines approach to achieving objectives
  • Work groups established to develop action plans

18
Challenges to Business Growth (1)
  • High cost of doing business delivering product
  • High competition for qualified labour
  • Shortage of job skills capital requirements
  • Tenders are sometimes too large for local
    businesses

19
Challenges to Business Growth (2)
  • Culture language barriers for Inuit businesses
  • Nunavuts small populationno economies of scale
  • Poor communications transportations links
  • No community-based savings lending institutions

20
The NEDS Planning Process
VISUALIZE Desired Future
Business Opportunities
INITIATE Build the Team
FRAME Strategic Opportunities
DEVELOP Action Plans
MOBILIZE Implementation
Industry Building
ASSESS Current Reality
LEADERSHIP CIVIC PARTICIPATION
1999
2001
2002
2003
2013
2000
21
Business Opportunities (3)
  • NNI Policy for GN development projects
  • Large contracts broken down for small business
  • 7 Inuit, 7 Local, 7 Nunavut businesses
  • Greater rewards for Inuit Employment
  • Training required for labour over 300 K

22
Business Opportunities (2)
  • Small businesses supported in implementation
  • Small business development funding (CBD Program)
  • Inuit investment (e.g. Atuqtuarvik)
  • Loan financing (e.g. Nunavut Business Credit
    Corp.)
  • Promotion of federal funding assistance

23
Business Opportunities (3)
  • Nunavut Trust holds federal settlement funds and
    distributes earnings to
  • Nunavut Tunngavik Incorporated
  • Atuqtuarvik Corporation (loans to businesses)
  • Nunasi Corporation (owned by Regional Inuit
    Associations)
  • Invests in business
  • Dividends to Regional Inuit Associations
  • Inuit Firm Registry

24
Industry Building
  • Build mechanisms for supply demand in Nunavut
  • Replacing imports promoting exports
  • Support growth of existing industries
  • Mining, tourism, arts/crafts, food harvests,
    fish/sealing
  • Enter into promising new industries
  • E-commerce, wireless communications, film etc.
  • Build job skills business capacity
  • Education training, investment, export
    readiness
  • Promote the development of infrastructure
  • Transportation, broadband communications

25
NEDS and Business the Next Ten Years
  • Representative level of Inuit firms
  • Registered Inuit firms will more than double
  • Education training to be readily available
  • Comparable access to commercial financing

26
NEDS and Business the Next Ten Years
  • Nunavut businesses to build up equity
  • Federal territorial procurement to provide
    access
  • Started with revisions to NNI Policy
  • IIBA used to maximize economic benefit
  • Started with Jericho Diamond Project
  • Basic infrastructure available e.g. Broadband

27
NEDS Priorities for Business (1)
  • Improve business loans risk capital programs
  • Set up community-based investment programs
  • Promote investment attraction
  • Review improve business development programs
  • Consolidate business services in the regions
  • Strengthen the Chambers of Commerce
  • Streamline business development funding
  • Design implement a business aftercare program

28
NEDS Priorities for Business (2)
  • Promote job skills business services
  • Online inventories
  • Create a community savings loan network

29
NEDS Next Steps
  • Nunavut Economic Forum
    First Annual AGM,
    May 3-4, 2004
  • Establishment of Governance Structure
  • Identification of priorities for action planning
    2004-2005
  • Creation of teams to prepare and implement action
    plans
  • Immediate priority establish partnership with
    INAC to ensure Northern Strategy addresses
    Nunavuts economic development priorities.
  • The Nunavut Economic Development Strategy as the
    blueprint for building the Nunavut economy.

30
(No Transcript)
Write a Comment
User Comments (0)
About PowerShow.com