The Coronavirus Business Adaptation Scheme aims to provide financial assistance to local businesses in designated sectors that have been financially affected by the global COVID-19 pandemic.
The Scheme offers financial assistance of up to 50% to eligible businesses who may wish to consider innovating and adapting their business model to seek new avenues of business and/or provide their products or services in a new way.
Businesses which have experienced a downturn in turnover of at least 50% since 1st March 2020, as confirmed in management accounts, and operate in the following sectors are welcome to apply:
Travel and Tour Operators
- travel agents
- tour operators
- coach operators
- private car hire operators
- car rental businesses
- airport/seaport based taxi operators
- airport parking/valeting businesses
With income derived wholly or mainly from such an operation.
Taxi and private car hire operators must generate more than 50% of their revenue from serving the Sea Terminal and Ronaldsway Airport in order to be eligible.
"Animal Care" means a business with income wholly or mainly from the keeping of animals in a boarding establishment which is licensed under the Animal Boarding Establishments (Isle of Man) Act 1973 and has, and continues to, suffer at least a 50% reduction in turnover as a direct result of the border restrictions.
This excludes operators who provide animal day care facilities.
Any business directly linked to the tourism and travel sector that can prove to the satisfaction of the Department's Chief Executive that it has and continues to suffer at least 50% reduction in turnover as a direct result of the border restrictions imposed due to COVID-19.
Tourist Accommodation Providers, with the exception of registered permanent campsites without glamping facilities, are ineligible under this Scheme but are encouraged to contact the Department's Visit Isle of Man Agency and enquire regarding the Strategic Capacity Scheme.
The Department will refund up to 50% of the approved expenditure in the areas identified below:
- modification to facilities (may be subject to a reduced level of support if part of the modification is ineligible for assistance)
- capital equipment (purchased or leased)
- equipment needed to deliver new products or services
- up to £7,500 towards a business vehicle bought or leased to deliver new products or services which are permanent changed to the business model - no support is available for the replacement or upgrade of vehicles
- materials consumer in relation to the adaptation
- rent on any additional space leased
- 1st year costs of establishing the new area of business, for example, legal, accounting and meeting health & safety or environment standards
- other reasonable costs as agreed by the Department on a case by case basis
The Department will assess each application based on the following criteria:
- Full completion of the application form and information provided;
- Any additional information subsequently provided; and
- Eligibility in line with the criteria.
- The staffing levels in the business
All applicants are encouraged to carefully review their eligibility status before submitting the application form.
For the full scheme guidelines please click here.
Potential applicants who are unsure of their eligibility should complete the brief online enquiry form which can be found at: www.gov.im/businessenquiries
Enterprise Support Team Contact Details
Address: Department for Enterprise, 1st Floor, St George's Court, Upper Church Street, Douglas, IM1 1EX.