EntrepreneursThe Isle of Man has benefited from 30 years of continuous economic growth, much down to the Island's entrepreneurial spirit. The Island offers a supportive ecosystem for people looking to start, grow or relocate their business.
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 a population always hungry for new products and services.
- The Island's size means that new local businesses are never far from their target market and that gives an unparalleled opportunity to build contacts and network at relatively low costs – a must for any start-up. If you have a quality product or service, the Isle of Man is the place to develop and scale it into a viable business.Support is available for start ups via the Micro Business Grant Scheme.
- 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.
For more information on the extensive range of grants and assistance available to your business, including the Employee Relocation Incentive, visit Department for Enterprise and discover the opportunities that are available to you.
- 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, which is 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 has gained a strong 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 wanting to set up on their own.