The £0.5 million Domestic Event Fund, managed by Business Isle of Man, an Executive Agency of the Department for Enterprise, is now open to applications from local authorities, businesses, individuals and charities island-wide.
The initiative is supported under the £100m Economic Recovery Fund announced by Treasury Minister Alfred Cannan MHK in his budget update to July’s Tynwald.
The new fund is intended to support applicants with the development of local events by funding up to a maximum of 80% of costs associated with the development of new, domestic focused events, running up to the 31 March 2021. Eligible events such as local markets, festivals, shows and concerts must be focussed on increasing domestic spending, in turn supporting local businesses over the autumn/winter period. Qualifying costs include equipment, entertainment, marketing, insurance, health and safety, and an event organiser.
Political Member with responsibility for Business Isle of Man, Lawrie Hooper MHK, commented:
‘With applications now open, I strongly encourage any organisation or individual interested in running a public event to make an enquiry via the website to learn if and how the fund could support them. Community events are an opportunity to promote local products and local destinations as well as providing a great stimulus for local businesses by boosting footfall. Through this fund, we hope to be able to support applicants, through providing up to a maximum of 80% of eligible costs, to put on a range of new and exciting events that provide a significant boost to economic activity where it may otherwise be subdued to COVID-19.’
For further information about the fund and to enquire about eligibility, please visit the Business Isle of Man's Domestic Events Fund page.