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…