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.
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.
Download a copy of the Enterprise Support Schemes Factsheet here.
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The Accessibility Grant offers eligible businesses 50% grant funding up to a maximum of £7,500 towards adjustments in line with the Equality Act 2017.
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The scheme offers 100% interest-free unsecured loans to eligible businesses seeking to make their operations more energy efficient, lower their energy costs and reduce their emissions.
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The scheme helps businesses engage external consultants to undertake projects such as website development, marketing and environmental efficiency. Matched funding available to a maximum of £5,000.
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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.
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The scheme is discretionary & can offer a generous package of support to qualifying businesses, including grants of up to 40% towards a range of capital and operating items.
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This 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.
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The Scheme assists residents with the reduction of carbon emissions and household energy bills by providing financial contribution of up to a maximum of £5,725 per property for home improvements.
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The Island Infrastructure Scheme aims to provide financial assistance to property developers who plan to develop on designated brownfield sites.
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The scheme provides start-ups and early stage small businesses the necessary training, financial support up to £6,000 and mentoring to get their business off the ground.
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The Step Programme matches local organisations with undergraduates in their second or penultimate year of university for project-based placements during the summer holidays.
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The Scheme has been established to provide financial assistance to improve the appearance of commercial premises and create civic amenity projects within the Island’s towns and villages.
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Financial support of up to 30% for vocational training and apprenticeships on Island, including courses on accountancy, childcare, construction engineering, ICT, shipping, catering and many more.
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The Seasonal Worker Incentive is available under Appendix 14 of the Financial Assistance Scheme and seeks to support the expansion of the Island’s tourism and hospitality workforce.
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The aim is to provide grant assistance is to help employers in hospitality & retail sectors to incentivise staff to work additional hours and attract new staff to their workforce during the 2024 TT.
Not sure what you're 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.
Enterprise Support Annual Reports
Under section 6 of the Enterprise Act 2008 (“the Act”) the Department for Enterprise (DfE) is required to lay an annual report before Tynwald as to the provision of assistance under the Act including a list of the names of those businesses which have received financial assistance from the Department during the previous financial year ended on the 31st March.
Click here to find out more about the Department for Enterprise Annual Reports.