Thank you, Mr. Chair. The SEED program is disbursed across the Northwest Territories through our regional offices to support a wide range of business entrepreneurial initiatives. There are some focussed efforts in particular areas; for example, earlier we discussed the film industry. Those programs are well subscribed. The program budget is typically oversubscribed. It’s a little over $3.8 million annually and we have been able, through some readjustments in the department, to look at almost $4 million annually to provide contributions to entrepreneurs and businesses across the Northwest Territories.

The BDIC operates and focused program for contributions that are smaller, and deals with issues pertaining to much of their specific portfolio. So, for example, they’re dealing with some of the lending portfolio issues and they may direct some of that contribution money to assist with a particular client who’s dealing with them on a particular loan or typical application for a loan. So it’s a little more focused to their program area.

The department’s SEED program is much more open and widely disbursed to all types of entrepreneurial initiatives in the territory. Thank you, Mr. Chair.