Any members interested in joining the Board of Directors should contact our President, Yanik D'Aigle, at [email protected] before March 24. And as part of our 50th Anniversary year, the NWT Chamber is looking to expand its membership base. If you know of someone who might be interested in our organization, ask them to have a look at our (brand spanking new) website to find out more about us.

FORE! The Chamber

After an absence of two years, the NWT Chamber's golf tournament returns Friday, August 18 at the Yellowknife Golf Club.

After 18 holes on Aug. 18th, participants will be treated to a reception with a silent auction and a delicious meal.

This promises to be an opportune time for the business community to mix, mingle and network.

More details will follow, but please save that date and start thinking of teams to enter.

And your ED would appreciate it if you could find it in your budget to sponsor a hole or donate a prize to the silent auction. (The official request will come later on.)

The tournament is in Yellowknife this year, as it is our post-pandemic return to action, but will be moving to other courses in the territory in coming years.

Lien direction input sought

The GNWT is seeking feedback from the NWT Chamber on a proposed motion to amend Bill 65 Builders' Lien Act. 

“(If passed, the motion) would impose changes with respect to how Indigenous government's settlement land and municipal government's land are treated under the law and may affect your commercial dealings between governments and workers, I am seeking your views on whether you support the proposed motion to amend Bill 65,” states Brad Patzer, Acting Deputy Minister Department of Justice.

With this motion, if a worker (including sub-contractors who do not have a direct contractual relationship with the landowner) supplies materials or does work to improve land, and is not paid, they will still be entitled to a lien that can be preserved and perfected against Indigenous government's settlement land and municipal government's land.

However, if after trying to pursue satisfaction of the lien (which may include a trial in the Supreme Court) and they remain unpaid for their work or supplies, the worker would now be prohibited from seeking seizure or sale of the land.

Your ED will be collecting thoughts from NWT Chamber members up to April 12, at [email protected]. James will then compile them into a document which will be reviewed by the Chamber Executive prior to submission.

One in 10 small-business owners switched banks at least once between 2019 and 2022

Between 2019 and 2022, one in 10 SME owners switched banks at least once — and another one in five have not switched, but would like to.

Those were some of the findings in a new report by the Canadian Federation of Independent Business (CFIB). 

The top three reasons for switching banks include poor customer service (52%), issues with accessing financing (44%), and fees/pricing (39%). 

"If the big banks want to retain their small business clients, their primary focus should be on improving their customer service," stated Corinne Pohlmann, Senior Vice-President of National Affairs at CFIB. 

Royal Bank of Canada (RBC) retained the top spot in 2022 as the bank with the greatest small business market share (19%), although it doesn't lead in any regional markets (the North was not broken out for this study). 

The GNWT lists these banks as being in business in the territory:

• Bank of Montreal (Yellowknife & Fort Smith)
• CIBC (Inuvik, Norman Wells, Fort Simpson, Yellowknife & Hay River)
• RBC Royal Bank (Yellowknife & Hay River)
• Scotiabank (Yellowknife)
• TD Bank (Yellowknife)
• First Nations Bank Canada (Yellowknife)
• BDC-Business Development Bank of Canada (Yellowknife)

POLLING THE CHAMBER

Topic: Oil drilling

The United States is moving ahead with the major Willow oil project on the northernmost region of Alaska.

ConocoPhillips says the Willow project could produce up to 180,000 barrels of oil a day, create up to 2,500 jobs during construction and generate billions of dollars in royalties and tax revenues.

The eco-friendly Biden administration has been criticized for gutting the United States’ energy independence, realized during the Trump era.

However, climate activists are outraged, warning Biden is putting his 'climate legacy' at risk and would break a campaign promise to stop new oil drilling on public lands.

AND THE SURVEY SAYS:

Do you support an imposed limit on rent increases?

• YES 25%
• NO 75%

NORTHERN QUOTES OF THE WEEK:

"This is an exciting and transformational acquisition for Burgundy with potential to generate significant and growing returns for our shareholders."

— Burgundy Diamond Mines Ltd. CEO, Kim Truter, commenting on the "transformational" acquisition of the Ekati Diamond Mine by the Australian company announced this week.

"We're always concerned about work. If the mine closes, then it's not good for many of the workers working in the mines."

— Chief Fred Sangris of Ndilǫ told CBC North, noting a lot of Indigenous people work in mining, including close to 200 Yellowknives Dene First Nation members.

SOCIAL POSTS OF THE WEEK:

SPONSOR THE NWT CHAMBER'S ONGOING WORK

Friday Futures:

The NWT Chamber is partnering with the GNWT's Department of Industry, Trade and Tourism, and governments of Yukon and Nunavut to host a reception the night before next week's 22nd Annual Arctic Energy & Resource Symposium in Calgary. It promises to be a prime opportunity to promote the work of the NWT Chamber and maybe even sign up some new members.

To celebrate the NWT Chamber's 50th anniversary this year, a major one-day conference and evening reception is being planned for Sept. 29. Stay tuned for information.

The next NWT Chamber Board Meeting is April 15 at 11am in-person or Zoom

THE NWT CHAMBER SINCERELY THANKS

OUR LEGACY SPONSORS

Inquire with the NWT Chamber's Executive Director about sponsorship and newsletter advertising opportunities. We also offer limited numbers of EBlasts to members each month and promoted social media posts can be arranged.

Follow your NWT Chamber on social media