Financial Assistance Scheme

The Department of Trade and Industry has for many years operated a Financial Assistance Scheme aimed at encouraging diversification of the economy. This Scheme provides a range of grants and soft loan support to eligible businesses that can meet the commercial and environmental criteria laid down. Technology/E-Business based businesses can already apply for financial assistance under the Scheme.

The Financial Assistance Scheme is seen as a key tool to encourage existing businesses to adopt new technologies and practices and for new businesses to develop on the Island. The opportunity exists not only to encourage new projects but also to develop projects in conjunction with private sector partnerships and contacts.

The DTI's Financial Assistance Scheme can offer a generous package of support to qualifying businesses:

* Up to 40% equipment grants, to include all hardware and software;

* Up to 40% building grants either for new build or for rents payable;

* Up to 40% revenue grants encompassing expenditure from research and development, relocation, consultancy, marketing and quality and environmental standards

* Up to 50% training grants;

* All capital grants are ignored for the purposes of calculating capital allowances, a 100% capital allowance combined with maximum capital grant support can give an effective rate of support of 50% of the costs of the capital assets;

* The department has the ability to act as a guarantor of loans and leases in specific qualifying circumstances;

* The above incentives apply to existing and new ventures and can be applied for on an annual basis;

* The department's scheme can accommodate capital assets obtained on lease/hire purchase finance.

Contact DTI

For further infomation on all aspects of the Financial Assistance Scheme, please click on the 'Financial Assistance Scheme Brochure pdf.' below, which provides you with all the relevant information.

If at any time you need assistance, or information you may contact the Department and a representative will assist you.