The Department for Enterprise has announced the extension of additional support available under the Business Improvement Scheme (digital initiatives) and the extension of the Accessibility Grant (Appendix 11 of the Financial Assistance Scheme) to provide enhanced support for businesses.
The additional support has been made available for businesses through the Economic Recovery Group, which is co-chaired by Treasury Minister Alfred Cannan MHK and Minister for Enterprise Laurence Skelly. The Economic Recovery Programme’s aim is to protect people and jobs, secure investment and encourage growth as part of the Isle of Man’s financial fightback from Coronavirus.
The Business Improvement Scheme provides funding for organisations who would like to undertake a business improvement project using external consultants. The scheme normally provides funding of 50% up to a maximum of £5,000, but the enhanced scheme now provides additional support, of 50% up to a higher maximum of £10,000 for projects within the disciplines of: digital marketing consultancy, social media consultancy, website creation and website development. The enhanced support will be available until the 31st October 2021. More information on the Business Improvement Scheme can be found at: www.dfe.im/bis
The Accessibility Grant was announced as an addition to the Financial Assistance Scheme in October 2020 and provides grant funding up to £7,500 to support businesses wishing to make adjustments in line with the Equality Act 2017. Existing businesses can receive support of up to 50% towards modifications to premises, plant and machinery costs, website modifications for accessibility purposes and other reasonable adjustments. More information on the Accessibility Grant can be found at: www.dfe.im/fas
Laurence Skelly MHK, Minister for Enterprise commented:
‘The Economic Recovery Group is leading a coordinated response to the Coronavirus pandemic and this extended support demonstrates further investment in stimulus measures to ensure the Island’s businesses have opportunities in the economic recovery.
‘Supporting businesses who wish to undertake digital improvement projects, and those who need to make their premises more accessible for their customers and employees is an integral part in ensuring we meet the needs of our community and ensure inclusivity within our Island.’
The announcement of these scheme extensions sits alongside emergency support for businesses, individuals and the self-employed, which include the Coronavirus Business Support Scheme, the Manx Earnings Replacement Allowance and the Salary Support Scheme, all of which have recently been extended for the duration of the current circuit break lockdown. Two new payments have also been announced, the Domestic Business Payment, and the Hospitality Grant of £250, and further information on these will be available in due course.
For more information on the support which has been made available for businesses throughout the Coronavirus pandemic, visit: www.gov.im/coronavirus