The Isle of Man is a hub for start-up businesses and entrepreneurship, enjoying over 30 years of sustained economic growth. This strong performance has been underpinned by the increasingly diverse nature of the island’s economy, playing host to a range of successful business sectors in which we are among the best in the world.
Isle of Man-based companies are succeeding in the global marketplace because they operate in an entrepreneurial and business-friendly environment. These companies serve a global blue chip client base which has a strong foundation in financial and professional services, but also sees success in the maritime and business aviation services, e-Business and aerospace manufacturing.
We understand the barriers that businesses face all the way through their growth cycle, from the initial investment in a concept right through to the multi-million pound sale of a corporate success. Our island itself often works as an incubator, offering the chance for entrepreneurs and industries to try new ideas and push the boundaries of innovation. Our small population, wide open spaces and financial support are a heady combination for new businesses looking for a location to expand and develop.
We are building a place where businesses are supported throughout the business cycle with room to grow, the chance for ideas to develop and skilled people to drive those ideas forward. Our strong finance sector is working hard to support this and during 2016 we launched a number of new initiatives and legislation to enable us to expand our financial offering and diversify our business environment even further. This has led to the creation of a portfolio of financial initiatives that can lend support to businesses where gaps have been created due to the squeeze on capital investment and traditional finance.
Working with the UK
As well as nurturing business on the Isle of Man, our proposition to companies based in the UK is a strong one. The Island has a diverse number of initiatives that provide opportunities for new and existing businesses, including a £50 million Enterprise Development Scheme, new regulations for banking licences and new regulations supporting the establishment of on-island Crowdfunding platforms. These initiatives join an already comprehensive inward investment package, and further show that the Isle of Man is the International Business Centre of choice for businesses wishing to develop overseas.
The Island’s strategy for working with the UK centres around two key pillars:
Inward investment: The Isle of Man Financial Services team regularly work with professional services businesses, UK based SMEs and entrepreneurs, venture capital businesses, business angels and more to promote our range of initiatives and assistance.
Wealth Creation: The team work directly with professional and financial services businesses on the Isle of Man to speak to key businesses in the UK about the depth and range of services the Isle of Man provides.
Ultimately we aim to encourage entrepreneurship, innovation and enterprise while working ever closer with our partners in the UK.
Growth and Funding
There are many challenges to be faced by expanding a business – whether it’s finding the right people, the right location or the right funding. No matter where you’re based or what stage of the growth cycle you’re in, kick starting that growth will cost both time and money in the initial stages.
On the Isle of Man, there are many advantages for businesses looking to relocate or establish operations, enabling them to thrive and become profitable in a variety of sectors. Establishing a business in the Isle of Man can give you the edge you require to grow your business to the next level, allowing you to become, and remain, even more successful.
As a leading international business centre renowned for its innovation, we recognise the importance of collective, sustainable development which will be demonstrated through ISLEXPO, a two-day event inspiring business growth at every level.
Hosted by the Department of Economic Development, ISLEXPO will consist of inspirational speakers, informative workshops, lively panel discussions, pitching competitions, a Gala Dinner, artisan food and drink and much more. Taking place on 24th and 25th May 2017, the free event provides opportunities for delegates to come together and discover how the Isle of Man can support their ambitions.
Master Investor’s very own Jim Mellon is a lead speaker at the event, returning to the Island to share his thought-provoking insight and exploratory conversation regarding global markets, business, and beyond. Following the success of his hugely popular keynote last year, Jim will return to ISLEXPO to engage delegates once again with his wit, candour and an undoubtedly keen take on ‘Inspiring Growth’.
The event brings together the innovation and support the Isle of Man offers businesses and entrepreneurs alike. However, on the Isle of Man we are not just looking at developing our financial options and business incentives, we are also investing in our quality of life and developing our proposition for relocating businesses and individuals. The Island has one of the lowest crime rates in Europe, a free property market and excellent schools and facilities. This special combination is continuing to ensure that the Island is a place where both businesses and people want to be.
Isle of Man Government Department of Economic Development will be exhibiting at the Master Investor show on Saturday 25th March – find them at stand 35-36. To find out more about the Isle of Man, please visit www.whereyoucan.com contact email@example.com or visit www.islexpo.com to register for ISLEXPO 2017.