The Business Improvement Scheme (BIS) provides funding for businesses looking to complete a business improvement project.
- Grant of 50% towards the cost of improvement projects in a wide range of business areas
- Maximum level of assistance of £5,000 per project, other than the Digital Marketing/Social Media Consultancy and Website disciplines, where the maximum value of support is £10,000 per project*
- The scheme not only provides financial assistance, but enables businesses to engage with a range of technical consultants to deliver the business improvement project
- Includes a Business Advisory Service, fully funded by the Department
*Businesses wishing to apply under the Digital Marketing/Social Media Consultancy and Website disciplines must do so by 31st October 2021 in order to take advantage of the increased £10,000 support. Applications received after the 31st October 2021 under these disciplines will be eligible for £5,000 only as per the other disciplines.
The Business Improvement Scheme encompasses the following disciplines:
- Brexit (The Department has a checklist for businesses in preparation for the outcome of Brexit negotiations. The Brexit Business Checklist covers cross border trade, taxation, currency risk, product regulations, intellectual property rights, legal issues, and employment and staffing considerations. You can download the Brexit Business Checklist in the downloads section on the right)
- Business Advisory Service
- Digital Marketing/Social Media
- Environmental efficiency
- Information communication technology/information systems
- Intellectual Property Protection Support
- Legal Advice Concerning External Investment in Businesses
- Quality Accreditations
The applicant business must:
- Be registered or incorporated on the Isle of Man
- Employ workers resident on the Island for Income Tax purposes
- Have no government debts (NI/Tax/VAT etc)
Please note: grants are not retrospective
Skanco recently took advantage of the Department's Business Improvement Scheme to obtain an ISO Quality Accreditation. Hear what Operations Manager Andy Gosnell had to say about the experience below.
You can also read about Skanco's experience here.