Enterprise Development Scheme
The Enterprise Development Scheme (EDS) provides grant, loan and equity investment to new start-ups, existing expanding businesses and businesses wishing to relocate to the Island.
Support to on-Island businesses entering the next growth phase in order to aid their expansion.
The scheme is available to existing locally based businesses in export driven economic sectors ideally with 5+ employees.
Support to be given
Financial: loan on commercial terms.
Term: 1 to 5 years.
Amount: typically up to £100,000 (staged payments).
Purpose: loan to support capital, plant, equipment, premises or other tangible assets.
Equity - the investment will typically be up to £250,000 although more may be considered in exceptional circumstances.
Support to be given
Financial: equity investment as minority shareholder.
Term: anticipated 3 to 5 years but could be longer to achieve expected value. Business Plan should include an investment exit strategy.
Amount: up to £250,000 though will be viewed on a case by case basis.
Purpose: investment support into niche and/or export driven sectors which support the Government’s development ambitions such as E-Business, Financial Services, Manufacturing, Bio-Medical and other emerging sectors will be considered.
The Department for Enterprise may provide assistance to an eligible business where, in its opinion, the eligible business undertakes, or will undertake, an economic activity in the Island; the assistance is likely to encourage sustainable economic growth in the Island; and the form and amount of the assistance is reasonable having regard to all the circumstances.
Only one grant may be applied for per project and only one application per 12 month period will be permitted.
Grant assistance cannot be considered retrospectively for items of expenditure which have already been purchased.
For further details and scheme guidelines please view our Financial Assistance Scheme.