It's been well documented.
The forestry downfall in northern B.C. and the interior gets worse by the day, but Northern Development Initiative Trust (NDIT) is stepping in to help the impacts of the losses.
The investment company announced yesterday (Aug. 12) they are now offering a consulting rebate to small as well as medium-sized businesses in the service region that may be affected by permanent mill closure or curtailments.
The Forestry Affected Business (FAB) Consulting Rebate is to reimburse the small and medium-sized business for contracted consulting services.
A rebate of up to 75 per cent is available to a maximum of $15,000.
NDIT says the new program is an offshoot of the Competitiveness Consulting Rebate program.
The program offers rebates to businesses in the industrial and supply services sector.
FAB also help targets outside of that sector including retail, tourism operators, hospitality, accommodations, and agriculture/ranching.
The program helps businesses recover costs of third-party consulting projects which must focus on ways to substation businesses during the economic downturn in the forest industry.
“The Trust is very aware of the potential economic impacts mill closures and curtailments may have on communities and businesses in our service region," CEO of NDIT Joel McKay says in a release. "This program seeks to help offset those impacts and sustain our communities during this difficult time.”
Eligible projects include business planning and management, market development, quality and safety management, cash flow and financial management, and business coaching as well as other areas.
Another point of eligibility is the business must be privately owned with less than 500 employees as well as annual revenues less than $100 million.
Startups and publicly traded business are not eligible.