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Small Business, Big Potential
9 April 2019

Running a small or medium-sized business in the Arctic brings its own challenges, which the government needs to take into consideration when creating (primarily at the regional level) a policy to support them. For a small business in the region to be competitive, the requisite infrastructure needs to be in place, and it needs to be of a high quality. This encompasses support for logistics, roads, an electric grid, utilities, and air/port access for supplies. It also depends on government regulation in areas such as rates for electrical power and hardship allowances. An individual approach is required in single-industry towns in the Arctic, where small and medium business provide a way to solve issues connected to employment and diversifying local economies. How can people living in the region be encouraged to start their own businesses? What can be done to engage the interest of young people, thereby reducing migration? What forms of support should be made available to small and medium business in the Arctic? What should be done to make SMEs in the Arctic more competitive? How can SMEs get involved in infrastructure projects?

International Arctic Forum
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Congress Centre, Conference hall B1
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