Ahead of the United Kingdom’s planned departure from the European Union, the Department for Enterprise is offering support for Isle of Man businesses in preparation for Brexit. A checklist has been created to help local businesses consider the changes and challenges that may arise, and financial assistance is available for Brexit-related consultancy projects through the Business Improvement Scheme.
The Brexit Business Checklist will help businesses undertake a ‘health check’ of their business plan and raise questions to determine readiness. The checklist details considerations and actions in areas such as cross border trade, taxation, currency risk, product regulations, intellectual property rights, contracts, and employment and staff. The Department is encouraging all local businesses to download and use the checklist.
Minister for Enterprise, Laurence Skelly MHK, commented:
‘As an Island of enterprise and opportunity it is essential that we continue to support Manx businesses through changes that arise as a result of Brexit. The Department is actively working with the Cabinet Office to ensure local businesses and individuals have as much information as possible to make informed business decisions and take appropriate actions to prepare for Brexit.
‘We encourage all businesses to utilise the checklist to help assess readiness and apply for financial assistance provided by the Department to help them continue to thrive and flourish as we respond to our changing economic environment.’
The Department for Enterprise’s Enterprise Support team is also offering a 50% grant of up to £5,000 as part of the Business Improvement Scheme for local businesses looking to complete a Brexit-related consultancy project. To learn more about the scheme visit www.dfe.im/bis or enquire now.
In partnership with the Isle of Man Chamber of Commerce, the Isle of Man Government is hosting a Q&A session on Friday 27 September 2019, 8:30am to 10:30am at the Best Western Palace Hotel, to help businesses prepare for Brexit. Minister for Enterprise, Laurence Skelly MHK, will open the event and a Q&A session will follow with representatives from the Department of Environment, Food & Agriculture, Department for Enterprise, Customs and Excise, Immigration and the Cabinet Office, sitting on the panel. Questions can be submitted prior to the event by emailing rebecca.george@iomchamber.org.im and tickets for both members and non-members can be purchased online.
Further information on Brexit for people and businesses, including what to do if you are travelling to the EU after Brexit can be found at www.gov.im/brexit. Follow ‘#islebeready’ on social media to keep up to date with the latest Isle of Man Brexit news. A new mailbox has been set up by the Department specifically for businesses to ask questions surrounding Brexit issues. Should your business have any queries, please email brexit.dfe@gov.im.
