In response to the recent wildfires and water scarcity within the region, particularly impacting the Greater Vernon Water reservoirs, Community Futures North Okanagan (CFNO) has announced an economic disaster recovery framework to deliver immediate financial aid and targeted support to local businesses impacted by these disruptions.

Current economic projections estimate that 25% of local businesses face impacts due to closures or evacuations, while another 60% are experiencing indirect losses from reduced foot traffic, lower revenues and cancellations.

During the peak summer season, sectors such as tourism, retail, hospitality and recreation are estimating revenue losses between 30% to 40%. Furthermore, agricultural operations face significant income shortfalls due to crop loss and lower production.

“For local businesses, the financial fallout stretches well beyond physical property lines. Insurance may cover structural loss, but it leaves business owners entirely unassisted when facing canceled bookings, decreased customer volume, or uninsurable agricultural damage like lost crops and ruined infrastructure.”

— Leigha Horsfield, Executive Director, Community Futures North Okanagan

To address the critical cash flow shortages and operational hurdles experienced by the region’s entrepreneurs, CFNO’s economic recovery framework focuses on the immediate unmet needs of the business community through a One-Stop Business Recovery Centre. This physical and digital hub offers dedicated business support such as:

• Economic Disaster Recovery Loans for businesses needing urgent working capital, payroll assistance, inventory, and remediation costs.
• 1:1 Appointments with Business Advisors for businesses needing recommendations for available recovery programs, workshops and trainings.

In addition, CFNO is currently advocating for utility providers to offer billing credits and deferrals for impacted businesses.

“The One-Stop Business Recovery Centre supports local businesses with direct funding, dedicated support, and active advocacy to help them stabilize operations and drive foot traffic.”
— Leigha Horsfield, Executive Director, Community Futures North Okanagan

To ensure a coordinated and effective regional response, CFNO is working collaboratively alongside local governments, the Downtown Vernon Association (DVA), Indigenous organizations and local Chambers of Commerce to align resources, amplify advocacy, and support businesses across every sector.

Businesses wanting to access this support are directed to contact Community Futures North Okanagan for further information on the Economic Disaster Recovery Program:

Address: 3105 33^rd Street, Vernon, BC

Email: info@futuresbc.com

Phone: 250-545-2215 ext. 200

Website: www.futuresbc.com/economic-disaster-recovery-program