Business Support and assistance

The Department of Economic Development promotes a range of schemes and initiatives to encourage new businesses to start-up on the Island, help existing businesses to grow and to encourage investment in new technologies and working practices in order to make our businesses more efficient and competitive.

The Enterprise Development Scheme provides grant, loan and equity investment to new start-ups, existing expanding businesses and businesses wishing to relocate to the Island. There are three core support areas:

Starting your business - For on-Island start-ups seeking financial support and guidance on making their new business idea a reality. For more details see Micro Business Grant Scheme or Small Business Grant Scheme

Expanding your business Providing loan and equity support for existing small to medium enterprises entering the next growth phase. For more details see Loan and Equity

Relocating your business - For relocating medium to large firms to the Island that are already at the commercial stage of their development. For more details see Loan and Equity

Further schemes that may be of assistance include:

The aim of all its schemes is to encourage the growth and diversification of the economy through the development of existing businesses and the pursuit of new opportunities.