Immediate term (3 - 6 months) programme to:
- protect jobs
- provide timely financial support where needed
- help businesses position themselves for recovery
The ‘Our Businesses’ work stream is led by Caldric Randall, Chief Financial Officer for Isle of Man Treasury, and focuses on short term activity to protect businesses, industries and jobs in the Island with the challenges presented by coronavirus, through a transition period and to help put them in a strong position for the future. This work has included developing the strategic approach to Isle of Man Government’s financial support schemes, investment fund and Government backed loan schemes.
The Economic Recovery Group will seek to:
- Support businesses where national or international COVID-19 policy have severely restricted their market sector or operating ability; ensure any support is available to the whole sector equitably and does not distort the local market.
- Provide recovery and transitional assistance for a period after operating restrictions have been lifted to allow a return to normalised trading
- Remove direct assistance where sectors are able to operate on a fair and equitable basis without COVID restriction
For information on the funding and support that is available for businesses and employees, please visit the Business Guidance page.