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Funding & support for employers

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Funding & support

To find out which of these schemes you may be eligible for, please use our online assessment tool.

Salary Support Scheme

The purpose of the scheme is to provide salary support for businesses adversely affected by Coronavirus at this time.

Strategic Capacity Scheme

The primary purpose of this Scheme is to ensure the Island retains its strategic capacity in the Tourist Accommodation sector during the period impacted by COVID19 and subsequent emergency measures introduced by the Government.

Coronavirus Business Support Scheme

The scheme offers financial support to eligible businesses in the form of a grant payment of £3,000.

Isle of Man Disruption Loan Guarantee Agreement

The Agreement has been introduced in response to the financial challenges facing businesses as a result of the coronavirus (COVID-19) pandemic, and will see the Island’s commercial banks supporting up to £60 million of new lending, 80% of which will be underwritten by the Isle of Man Government.

Business Adaptation Grant

£3.5m is being made available for the Department for Enterprise to support businesses looking to evolve in the current climate. The Department will meet 50% of any costs that can be shown to be involved in the adaptation of a business as a result of a changing market due to the Coronavirus outbreak that has a viable business plan going forward.

Temporary Work Permit Relaxation

As part of the emergency measures brought in to support the economy during the coronavirus (COVID-19) pandemic, the Department for Enterprise has taken a number of measures to temporarily relax the work permit system.

Non-Governmental Support

Following discussions with major utility companies, which include Manx Utilities Authority, Manx Telecom and Sure, and Manx Gas, a range of support measures and services are also available for individuals who have been affected.

Employers national insurance holiday

The Treasury Minister announced in the March Tynwald the introduction of a nil rate of secondary Class 1 (Employers) Contributions for relevant sectors in respect of March 2020 remittances, which were due and payable by 19 April 2020.

Fisheries Industry Support Scheme

The Department for Environment, Food and Agriculture’s Coronavirus Fisheries Industry Support Scheme 2020 has been established to provide grant assistance to support fixed costs incurred by the Manx fishing fleet and local seafood businesses during the global COVID-19 pandemic.

Coronavirus Business Working Capital Loan Agreement

The Agreement will support overdraft and term-lending loan facilities of up to £250,000 for a minimum term of three years and a maximum term of seven years.