Business Isle of Man was created to facilitate the support, development and promotion of key sectors involved in the export of physical goods and related services from the Isle of Man, and those operating services within the domestic economy. Through establishing the Island as a centre of international excellence, its purpose is to deliver long-term sustainable economic growth.
As an Executive Agency within the Department for Enterprise, Business Isle of Man is a public/private partnership, acting as a key decision maker and advisory body for the economic prosperity of the its key sectors.
A direct conduit for businesses into Government, the agency strives to create an environment for renowned international brands, start-ups and everything in-between to flourish, using its strong partnerships with the private sector to draw upon the Island’s expertise, creativity and connections.
Our Board is made up a of a range of private and public sector representatives, including a non-executive Chair, that act as champions for each of the Agency's dedicated sectors. The Board meets monthly with the Agency's team to discuss and approve Agency initiatives. Board approved initiatives have included the creation of Construction Isle of Man, a public-private representative body for the Construction Industry in the Isle of Man, and the LoveIOM initiative which was created to encourage residents to support local events and businesses on the Isle of Man. The Board's key objectives are outlined below, along with each of its members.
Advice on availability and costs of commercial property
Provide you with access to expert knowledge and local intelligence
Dedicated Business Development Manager to support you and your project
Introductions to business networks and other business professionals on island
Guidance on financial incentives and business support organisations
Organising and hosting briefing visits for key staff
The Isle of Man Business Agency has been in existence since 2018 and in that time, we have been busy getting to grips with the wide range of activity covered by the Agency. Our main priorities include:
• Support the Island's domestic sectors specifically retail and hospitality, amid the ongoing coronavirus pandemic;
• Focus on developing the Island's medicinal cannabis offering following the approval of the regulatory framework for a cannabis export sector;
• Improve the retail proposition across the Island’s towns, with a focus on the regeneration of Douglas;
• Develop and co-fund the Construction Isle of Man industry body to support and grow the sector;
• Support the creation of a dedicated land and property development agency;
• Encourage and support the Island’s Engineering & Manufacturing businesses,
growing jobs in the sector and accelerating the growth of the industry leaders of tomorrow; and
• Nurture the growth of the Island’s Cleantech and energy industry.
Using our public-private expertise, we will action these priorities to put the Island at the forefront of innovation in exporting, while making it a fantastic place to live and work for its residents.