Mr. Speaker, in addition to describing times as being unprecedented, the need to "pivot" business models and methods has become one of the buzz words during the course of the COVID-19 pandemic. Almost all businesses in the Northwest Territories have had to adjust the way they operate or do business. In turn, the Department of Industry, Tourism and Investment continues to respond to the changing needs of the NWT's business community. New COVID-focused Support for Entrepreneurs and Economic Development guidelines were introduced early on in the pandemic, favouring projects that would help businesses recover, and contribute to the recovery of others.
An additional new funding option was introduced for Northwest Territories artists and commercial film and media arts producers whose activities and revenues were restricted due to physical-distancing requirements. In June, as our government moved to Phase 2 of the Emerging Wisely Plan, the Support for Entrepreneurs and Economic Development program was adapted again, to specifically support businesses re-opening or pivoting to meet new operating requirements. In an already challenging year for mineral exploration, we were able to make changes to our Mining Incentive Program that helped companies navigate COVID, related costs, and by prioritizing Northwest Territories-based service providers. Through this program, we distributed $1 million to seven companies and 13 prospectors.
Mr. Speaker, it is not only businesses who have had to change direction. With less than a year to go until the release of our 2021-2025 tourism strategy and with a sudden and necessary new focus on recovery, we went back to the drawing board this summer, re-engaging with the tourism industry on a new set of questions and seeking opportunities for both short- and long-term rebuilding through a COVID lens.
In order to help support this particularly hard-hit sector, ITI, in partnership with CanNor, created the Growth and Recovery by Investing in Tourism, or GRIT, as a new initiative that helps respond to the needs of Northwest Territories businesses. By moving budgets away from international marketing, the $1.5-million GRIT fund was introduced in August. By September, it was clear that the initiative was going to be over-subscribed, so we have since taken additional steps to meet this demand.
Mr. Speaker, back in July, the BuyNorth Campaign was also introduced, in partnership with Northern News Services Limited Media, to support and promote businesses as they pivot, re-open, and start to recover from the impacts of COVID. This, too, was a new approach to business support. ITI sponsorship allows all Northwest Territories businesses to have a presence on the BuyNorth web page for free and provides an umbrella for other initiatives, like the Northwest Territories Chamber's #shopNWT campaign to heighten the importance and appreciation for shopping local. In April and May, at the height of the pandemic and with strict economic lockdown measures in place, Northwest Territories businesses saw revenues decline by an average of 63 percent, and almost 70 percent were in the challenging position of being closed or partially closed. Yet, 93 percent of businesses surveyed from the Northwest Territories at the time still felt they would be able to survive.
Mr. Speaker, I have described a few ways businesses have pivoted and ways that ITI has helped support some of those efforts. The government, too, will continue to adapt its response and supports to changing needs. Thank you, Mr. Speaker.