The Yukon Small Business Guide:
The Complete Set of Resources for Establishing and Managing a Business in Yukon
This guide serves as a comprehensive resource for entrepreneurs who are looking to set up, run and expand their small businesses in the Yukon region. The IndigenousSME Magazine is committed to delivering essential tools, resources, and insights for navigating every phase of your entrepreneurial journey. The Yukon Small Business Guide provides holistic support and advice necessary for the successful establishment and transitioning of businesses in the province.
Yukon is renowned for its pristine natural landscapes, rich heritage, and thriving local communities, thereby providing an exceptional setting conducive to the inception and growth of startups and small enterprises. The expanding industries within the region offer a plethora of prospects for aspiring business owners.
The regional economy of Yukon is now gradually diversifying. With key sectors such as mining, tourism, and the cultural craft industries, this unexplored territory is slowly gaining traction from the government and international market as well. And this is precisely why this region offers a varied landscape offers numerous business opportunities and potential.
Yukon’s geographical location plays an important role in magnifying its untapped market potential despite being remotely placed. It acts as a strategic buffer zone because of its proximity to the most important markets of Northern America, namely Alaska and the Pacific Northwest. Entrepreneurs can actually gain a lot by establishing businesses in this region, as it offers access to these markets.
The best part is that this province has a skilled workforce with exceptional characteristics like proficiency with adequate focus on research and development. This gives Yukon an edge over its counterparts which may have to rely on external sources for the supply of skilled labour.
The Yukon government actively promotes a conducive environment for businesses by incentivizing it. They encourage entrepreneurs by offering a range of grants and funding programs that are specifically designed to foster business growth, innovation, and sustainability.
At $1,498 per year, Yukon has a cost of living that is 1.13 times lower than the national average in Canada. The Yukon was rated the 12th greatest place to live in Canada and the 11th most expensive. The total population of the region is about 37,000 and Yukon’s capital, Whitehorse, is the only region that has a major chunk of its residents which is roughly 28,000, that’s almost 75% of them! And that’s not all, the natural beauty and landscapes are an added bonus apart from the amiable and warm people.
Explore the Best Available Resources for
SMBs and StartUps in Yukon
Yukon Chamber of Commerce
The Yukon Chamber of Commerce was established in 1985 in a bid to provide a platform for businesses across the province to voice their concerns and demands. The official website of this organization states, “We are the leading voice of Yukon’s business community, providing advocacy and representation on issues affecting businesses across the Yukon Territory. As the collective voice of Yukon’s Business Community, the Yukon Chamber of Commerce works to create a climate conducive to a strong private sector economy.”
Canadian Federation of Independent Business
The Canadian Federation of Independent Business is another excellent option to turn to when you feel you need some help with your small-scale business in Yukon Territory. Dedicated to helping small firms and entrepreneurs, CFIB is the largest non-profit organization with more than 95,000 members.
The CFIB plays a vital role in advocating for small-scale businesses, whether with the government or politicians. Additionally, they provide specific business tools and practical resources plus on-call counsellors if you still have a doubt.
Whitehorse Chamber of Commerce
While travelling on the beautiful Alaskan highways, definitely take a pitstop in Whitehorse to experience the beauty of this breathtaking and stupendous city, the capital of Yukon Territory. The backbone of this astounding city’s economy is the business community and aiding their needs, the Whitehorse Chamber of Commerce works tirelessly day and night to create an environment where businesses can function and prosper. Their mission? Well, “The Whitehorse Chamber of Commerce supports and advocates for all businesses and organizations to contribute to the economic, civil, and social well-being of Whitehorse.”
In 2021, the Edmonton Chamber of Commerce completed 132 years since it started serving the city and furthering the interests of the residents and has been true to its mission of representing “small, medium, and large businesses, and every sector of the economy.”
CanNor – Canadian Northern Economic Development Agency
CanNor works with Northerners and Indigenous peoples, communities, businesses, organizations, other federal departments and other orders of government to help build diversified and dynamic economies that foster long-term sustainability and economic prosperity across the territories – Nunavut, Northwest Territories, and Yukon.
Dana Naye Ventures
dänä Näye Ventures is a Yukon-based, First Nation-controlled institution that provides business development and financial services to all people throughout Yukon and in the Northern British Columbia communities of Atlin, Good Hope Lake and Lower Post.