Mr. Speaker, later today I will be tabling the 2007-2008 Community Futures Program Annual Report. This document is an amalgamation of reports provided by the seven Community Futures development corporations, the community-based organizations that provide lending and counselling services to small business.

As we know, the strength and health of the economy of the Northwest Territories is directly reflected by the strength and health of our small and medium-sized businesses. To that end, funding the Community Futures Program remains a cornerstone of business support provided by the Department of Industry, Tourism and Investment.

The Community Futures development corporations are dedicated to assisting small and medium-sized businesses across the Northwest Territories by providing loans, business advice, and entrepreneurial training programs. Their activity has proven time and again to be essential in assisting businesses in communities to take advantage of the opportunities that have come from development activity in the Northwest Territories.

Just as the Community Futures development corporations worked to increase the growth of

business in the communities during the good times, we are seeing that they are now active in limiting the damage caused to northern business by today’s economic downturn. The proposed budget for the Community Futures Program for the 2009-2010 year is $1.132 million. I am confident that the investments made by this government through this program will be dollars well spent and that the Community Futures development corporations will continue to play a prominent role in the economic growth of small business.