Sovereign Equity & Loans
On the Isle of Man, the Department for Enterprise has a range of initiatives to assist new business to start-up on the Island and help existing businesses to expand further including equity and loan arrangements for businesses looking to locate on the Isle of Man.
Enterprise Development Scheme
The Enterprise Development Scheme provides grants, loan and equity investment to new start-ups, existing expanding businesses and also businesses wishing to relocate to the Island. For locating, or relocating, medium to large firms to the Island that are already at the commercial stage of their development the great news is that there are way to finance your business, other than through the grant schemes alone.
The ‘EDS’, as it is known, has been designed to offer equity or similar funding for investment to help enable expansion. Once you are located on the Isle of Man there is also an Accelerator scheme in place through the Isle of Man Government to support on-Island businesses entering the next growth phase to assist expansion.
The Enterprise Development Scheme is currently run by SPARK Impact Ltd. Authorised and regulated by the Financial Conduct Authority, SPARK have a wealth of experience in managing equity, venture debt and mezzanine finance across all business sectors.
SPARK are managing the two elements of the fund,
- Accelerator (investment in on-island businesses): Loan and equity investment for Small to Medium Enterprises (typically with 5-20 employees) entering their next growth phase.
- Re-locator: Loan and equity investment (of up to £1million) for establishing or relocating companies to the island
If you would like to know more about how the Isle of Man can help your media business please get in touch with us.