Isle of Man News - POSTED Wed 23-05-2018

Cash boost for budding entrepreneurs

by TH

Cash boost for budding entrepreneurs

Entrepreneurs on the Isle of Man are being given a cash boost.

The Department for Enterprise is increasing the money available to start-ups from July 1st.

The Micro Business Grant Scheme will raise from £5,000 to £6,000 – companies with an export focus could receive up to £15,000.        

Minister Laurence Skelly says: "We have seen numbers of people looking to start their own business increasing in recent years with events such as ISLEXPO opening up access to the different funding and support options available and inspiring more people to take the first steps into starting a business.

"The Micro Business Grant Scheme has been hugely successful with double the number of businesses going through the scheme now compared to four years ago.

"We have even lowered the eligible age of applicants to 16 – giving opportunities to young people to pursue entrepreneurial pathways."

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