A Strong Entrepreneurial Spirit
It is fair to say the Isle of Man knows more than a little about business. In fact the Island has benefited from 30 years' continuous economic growth, much of it down to the entrepreneurial spirit that seems to be innate in many of the Island's residents.
But what makes the Isle of Man so successful for entrepreneurs?
- The Island has an atmosphere of opportunity unlike anywhere else. There are a tremendous number of friendly economically mobile people and with that a population always hungry for new products and services.
- The Island's size means that new local businesses are never that far from their target market and that gives an unparalleled opportunity to build contacts and network at relatively low cost – a must for any start-up. If you have a quality product or service, the Isle of Man is the place to develop it into a viable business.
- New or existing on Island businesses and businesses considering relocating to the Isle of Man are able to benefit from Government run funding and training schemes. In 2016 the Isle of Man Government, announced an additional £50 million fund intended to foster new business on the Island, in addition to the financial assistance schemes already in place. Businesses on the Island are already benefiting from this assistance.
- Despite its location in the middle of the Irish Sea the Isle of Man is remarkably well connected. The Island is served by airlines including Easyjet, CityWing, Flybe and British Airways providing regular flights to the UK and farther aflield. The Isle of Man Steam Packet sails to the UK twice a day and runs seasonal ferries to Ireland.
- The Isle of Man recognises that connecting and developing business is about more than travel connections. That's why the Isle of Man is continually investing in its infrastructure. In fact, the Island was recently elevated to number three in the world in the Akamai State of the Internet report for countries with access to 4mpbs broadband. An astonishing 97% of the population are able to access this service and reap the rewards of great connectivity.
Because of these factors and from the pedigree of established sectors such as aerospace, precision engineering and financial and professional services, the Isle of Man is rapidly gaining a reputation as a hub for new technology, fintech, clean tech and a variety of other cutting edge businesses.
The skilled working population on the Island is growing and opportunities in new and existing businesses are common. For those who move to the Island with skills in the right sectors employment opportunities are vast, as are the opportunities for those brave enough to set up on their own.