The Northwest Territories are nationally recognized for its abundant resources and favourable entrepreneurial ecosystem, making it an ideal destination for startups and small businesses seeking to capitalize on the various opportunities offered across its diverse industries. The NWT also boasts entrepreneurial incubators that help entrepreneurs set up businesses or scale their projects from scratch. One such business incubator is EntrepreNorth which aims to empower Indigenous and community-based entrepreneurs.

The economy of the Northwest Territories is mainly reliant on natural resources such as diamonds, gold, oil, and gas. This provides a range of business opportunities in the region. The sectors of tourism, arts and crafts, film, and information and communication technologies are experiencing rapid growth as well.

The Northwest Territories offer exceptional opportunities to access Northern and Arctic markets. The unique geographic location of this area presents excellent opportunities for businesses looking to operate in remote regions.