Enhanced business support schemes have launched in the Isle of Man, expanding eligibility and increasing funding to help local businesses, particularly those within the domestic economy, manage the impact of rising costs, improve productivity and invest in growth.
These enhancements are intended to help businesses improve efficiency, productivity and resilience, while improving the accessibility and effectiveness of available support. They reflect the need to respond to rising costs and ongoing global economic pressures, enabling businesses to invest, improve productivity and drive economic activity across the Island.
The updated schemes will be open to applicants from 1 June 2026 and build on the Department’s current range of support, including help for start‑ups, growing businesses, efficiency projects, town centre and community initiatives, and business improvement activity.
Key changes include:
- Business Consultancy Scheme: increased levels of financial support, broader range of project disciplines and expanded eligibility to help businesses strengthen operations, improve efficiency and invest in modern systems through external consultancy advice and consultancy.
- Town and Village Regeneration Scheme: expanded support for improving new and existing business premises and town centre units, with increased flexibility and opportunities for repeat applications.
- Domestic Event Fund / Local Economy Fund: a more streamlined approach to event funding, supporting both community events and larger initiatives that deliver ongoing economic benefit.
- Business Emissions Saving Scheme: increased support to help businesses reduce energy use and costs, including enhanced funding for energy audits and grants towards certain efficiency improvements.
- Financial Assistance Scheme: expanded support for projects that help businesses reduce operating costs, improve productivity and maintain employment through practical improvements such as digitisation and energy efficiency.
Tim Johnston MHK, Minister for Enterprise said: “These enhancements ensure our support schemes continue to meet the needs of local businesses at a time when operating costs are increasing and conditions remain challenging amid global economic uncertainty.
“By increasing flexibility, improving access and increasing the level of support available, we are helping businesses to adapt, invest and remain resilient, while continuing to contribute to sustainable economic activity across the Island.
“I strongly encourage any business seeking to manage costs, increase productivity, or invest to explore the updated support and take advantage of the opportunities these enhanced schemes may provide.”
