For a sustainable future Isle of Man economy, the attraction and retention of workers and businesses is paramount.
Various recent government initiatives have made it more attractive than ever for either a business to consider setting up in the Isle of man or for a worker to move to the Isle of Man, as part of a lifestyle change.
The department of Economic Development (DED) has recently launched a £50m Enterprise Development Fund (EDF). The aim of the EDF is to support on-Island businesses at all stages of the business growth cycle in their expansion plans. The EDF is accompanies by other incentives, from tax-related initiatives to advisory support. The age of eligibility for start-up grants for micro-businesses has recently been lowered to 16 which will encourage flourishing local young entrepreneurs. There are also significant grants available for developing businesses. The support for both existing businesses and for start-ups has never been more available for clients.
Article first published in The Business Journal of the Isle of Man in May 2016
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