Funding & Support Schemes

Whether you are an individual looking to take your first steps into self-employment; a business requiring funding to scale-up and grow; or an established organisation looking to invest and improve in a particular area, the Department for Enterprise has a number of opportunities for creating and developing a business in the Isle of Man. 

Not sure what support you are eligible for? 

If you have questions about a specific support scheme, want to confirm your eligibility, or would like an informal chat about the support options available to your business, our dedicated team are here to help. 

Click here to complete our business enquiry form.

BUSINESS ENERGY SAVING SCHEME

The scheme has been designed to provide unsecured interest-free loans to businesses seeking to make their operations energy efficient.
Interest free loan of 100% over 5 years towards the cost of a project that improves energy efficiency up to a maximum of £20,000.

BUSINESS IMPROVEMENT SCHEME

The scheme is designed to help businesses engage external consultants to undertake projects such as website development, marketing and environmental efficiency.
Matched funding available to a maximum of £5,000.

DOMESTIC EVENT FUND

Business Isle of Man has launched this fund, designed for local authorities and businesses to support in the development of domestic focused events.

DOUGLAS PROMENADE SUPPORT SCHEME

The scheme provides loan support to viable, sustainable and eligible retail and hospitality businesses on Douglas Promenade which have been financially affected by the Refurbishment Scheme.

ENTERPRISE DEVELOPMENT SCHEME

The purpose of this Scheme is to grow the Isle of Man economy and create jobs on the Island by providing funding for businesses entering or in their commercial phases.

EMPLOYEE RELOCATION INCENTIVE

The Employee Relocation Incentive provides a 20% grant of up to £10,000 towards the cost of a relocating employee’s first year net salary.

FINANCIAL ASSISTANCE SCHEME

The scheme is discretionary and can offer a generous package of support to qualifying businesses, this includes grants of up to 40% towards a range of capital and operating items including building expenditure, plant and machinery, marketing, first year expenses, rent, training, energy and waste efficiency.

GRADUATE ROLE INCENTIVE

The Graduate Role Incentive offers local businesses 20% of the first year salary up to £6,000 and an employer National Insurance rebate for each graduate hired through supported roles, to encourage the provision of graduate-level opportunities available for those returning to the Isle of Man.

INTERNSHIP PROGRAMME 2021

The Department for Enterprise has launched an Internship Programme which provides work-based placements for young people to gain experience and will support businesses with additional resources.

INVESTORS IN PEOPLE

Investors in People (IIP) is a national standard which sets out a level of good practice for training and development of people within a business environment.

The standard provides a national framework for improving business  performance and competitiveness by developing employees and encouraging continuous improvement.

The Department funds the consultancy element required to assist the business through the process, with the business funding the accreditation application.

MICRO BUSINESS GRANT SCHEME

The scheme has been designed to give start-ups and early stage small businesses the necessary training, financial support and mentoring to get their business off the ground.

Matched funding up to £6,000 available for all businesses, with assistance of £15,000 for exporting businesses and child care providers.

TOWN & VILLAGE REGENERATION SCHEME

The Town & Village Regeneration Scheme provides financial assistance to improve the appearance of commercial premises and create civic amenity projects within the Island’s towns and villages.

VOCATIONAL TRAINING AND ASSISTANCE SCHEME

Government offers financial support of up to 30% for vocational training and apprenticeships on Island. Support covers a range of courses including accountancy, childcare, construction engineering, ICT, shipping, catering and many more. 

WORK-BASED LEARNING

University College Isle of Man (UCM) have a wide network of connections to local industry, providing valuable work-based learning and employment opportunities. 

 

The Isle of Man Government has developed support for Isle of Man businesses who have been impacted by the Coronavirus pandemic. 

Click here for information on Coronavirus support

Business Energy Saving Scheme

This Scheme has been designed to provide unsecured interest-free loans to businesses seeking to make their operations energy efficient.

Interest free loan of 100% over 5 years towards the cost of a project that improves energy efficiency up to a maximum of £20,000.

Business Improvement Scheme

The scheme is designed to help businesses engage external consultants to undertake projects such as website development, marketing and environmental efficiency.

Matched funding available to a maximum of £5,000.

Douglas Promenade Support Scheme

This Scheme provides loan support to viable, sustainable and eligible retail and hospitality businesses on Douglas Promenade which have been financially affected by the Refurbishment Scheme.

Domestic Event Fund

Business Isle of Man has launched the Domestic Events Fund, designed for local authorities and businesses to support in the development of domestic focused events.

Enterprise Development Scheme

The purpose of this Scheme is to grow the Isle of Man economy and create jobs on the Island by providing funding for businesses entering or in their commercial phases.

Employee Relocation Incentive

The Employee Relocation Incentive provides a 20% grant of up to £10,000 towards the cost of a relocating employee’s first year net salary.

Financial Assistance Scheme

This Scheme is discretionary and can offer a generous package of support to qualifying businesses, this includes grants of up to 40% towards a range of capital and operating items including building expenditure, plant and machinery, marketing, first year expenses, rent, training, energy and waste efficiency.

Graduate Role Incentive

The Graduate Role Incentive offers local businesses 20% of the first year salary up to £6,000 and an employer National Insurance rebate for each graduate hired through supported roles, to encourage the provision of graduate-level opportunities available for those returning to the Isle of Man.

Investors in People

Investors in People (IIP) is a national standard which sets out a level of good practice for training and development of people within a business environment.

The standard provides a national framework for improving business  performance and competitiveness by developing employees and encouraging continuous improvement.

The Department funds the consultancy element required to assist the business through the process, with the business funding the accreditation application.

Micro Business Grant Scheme

This Scheme has been designed to give start-ups and early stage small businesses the necessary training, financial support and mentoring to get their business off the ground.

Matched funding up to £6,000 available for all businesses, with assistance of £15,000 for exporting businesses and child care providers.

Town & Village Regeneration Scheme

The Town & Village Regeneration Scheme provides financial assistance to improve the appearance of commercial premises and create civic amenity projects within the Island’s towns and villages.

Vocational Training and Assistance Scheme

Government offers financial support of up to 30% for vocational training and apprenticeships on Island. Support covers a range of courses including accountancy, childcare, construction engineering, ICT, shipping, catering and many more.

Micro Business Grant Scheme

This Scheme has been designed to give start-ups and early stage small businesses the necessary training, financial support and mentoring to get their business off the ground.

Matched funding up to £6,000 available for all businesses, with assistance of £15,000 for exporting businesses and child care providers.

Vocational Training and Assistance Scheme

Government offers financial support of up to 30% for vocational training and apprenticeships on Island. Support covers a range of courses including accountancy, childcare, construction engineering, ICT, shipping, catering and many more.

Business Improvement Scheme

The scheme is designed to help businesses engage external consultants to undertake projects such as website development, marketing and environmental efficiency.

Matched funding available to a maximum of £5,000.

Investors in People

Investors in People (IIP) is a national standard which sets out a level of good practice for training and development of people within a business environment.

The standard provides a national framework for improving business  performance and competitiveness by developing employees and encouraging continuous improvement.

The Department funds the consultancy element required to assist the business through the process, with the business funding the accreditation application.

Micro Business Grant Scheme

This Scheme has been designed to give start-ups and early stage small businesses the necessary training, financial support and mentoring to get their business off the ground.

Matched funding up to £6,000 available for all businesses, with assistance of £15,000 for exporting businesses and child care providers.

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