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					THE        The Small Business Start-Up Scheme 3                      Summary................................................. 8
SMALL      The Course ..................................... 4        Disclaimer ............................................... 9
           Financial Assistance ......................... 6          Application Form .................................. 10
SCHEME     Eligibility ......................................... 7   Questions .............................................. 10

              Starting Your Business

           Department of Trade & Industry
The Small Business Start-Up Scheme

If you are either thinking of starting a business or have recently started a
business the Department of Trade and Industry’s Small Business Start-Up
Scheme could offer you just the help you are looking for.

The scheme is made up of several elements:

A 5 day course which will:
   •   help you decide whether self-employment is really right for you
   •   help you think through the viability of your business idea
   •   train you in basic business skills such as marketing and keeping
       financial records
   •   give you the know-how to prepare a business plan and cash flow
       forecast – the vital blueprints for your business

Financial Assistance

Available from the department on a discretionary basis, financial assistance
may be provided to help get your business off the ground. If your application
is approved and you are awarded funding, you may qualify for:
   •   a weekly allowance for up to the first 30 weeks
   •   a grant to help you purchase equipment. You may qualify for 50% of
       the price of your intended purchase

Assistance from a business adviser

At the end of the course, if you successfully apply for financial assistance, you
will be allocated a business adviser who will help you refine your business
plan and provide you with support during the initial 18 months of your
business. Your business adviser will be familiar with your business and will
visit you on a regular basis to monitor the success of your venture and
provide further advice where necessary. However, it is your business and
the business advisor will not become involved in decision making; his or her
role will be supportive and for guidance only.

In order to take full advantage of the Scheme, and all the benefits,
the only thing required from you is commitment.

The Course

All applicants to the Scheme will be given the opportunity to prepare
themselves, through free training and business advice, for the day to day
running of a small business.

The training will take place on pre-determined dates giving you sufficient
notice to arrange attendance. If your business has already started trading it
may seem impractical or even unprofitable to attend five days of training,
however, the training should be regarded as an investment, providing your
business with a firm foundation on which to build.

The course is split into two parts, a three day introductory course & a more in
depth two day follow up.

Part 1

All applicants are required to attend Part 1 of the training. This acts as an
introduction to the scheme and to running your own business. During this
initial part of the course you will be made aware of the implications of running
your own business & acquire the basic skills needed for success.

Part 1 takes three days & will:
      allow you to ask any questions you may have regarding the Scheme
      help you decide whether self-employment is really right for you
      provide an initial introduction to the financial aspects of starting a
      help you think through the viability of your business idea

      assist you in understanding how to raise finance for your business

      guide you in business record keeping & financial statements

      provide you with the tools to undertake the necessary market research

There will be a few weeks break during which time, if you wish to proceed to
the Part 2, you will be required to undertake some preliminary work towards
developing your business plan.

Part 2

The second part of the course will cover all aspects of business management

             legal issues                     credit control

             VAT, tax, NI                     staff

             premises                         market research

             customer relations               competitors

             business growth                  business record keeping

             profit & loss                    break-even

             cash-flow forecast               professional assistance

             selling skills                   insurance issues

The ‘Business Plan’ Day

The final day of the course will be a one-on-one session with a personal
business adviser to discuss your business plan.

Your business adviser will be an experienced business person who will help
you develop and refine your business plan.

Once complete, your business plan can be submitted to a bank for a business
loan. You may also want to submit it to the DTI for consideration for funding.

Financial Assistance

Although financial assistance is available from the Department, this is on a
discretionary basis and we cannot guarantee that you will be awarded

If, from your business plan, the Department feels that you have a viable
business proposition you may be eligible to receive discretionary funding in
the form of a grant and/or a weekly allowance.

The Grant

The Department can offer a grant to help you purchase equipment for your
business. The grant may be up to a maximum of £1,500. In order to qualify
for this you will need to fund half of the purchase cost yourself with the
Department funding the other half up to the maximum award of £1,500.

The Allowance

You may also be eligible for a weekly allowance of £50 for a maximum of 30

The Contract

You will be required to sign a legally binding contract with the Department
before receiving funding. The contract will run for a term of 18 months after
which you will be released from any obligation to the Department in relation
to your financial assistance.


To be eligible to be considered for funding you must meet certain criteria:

Individual Eligibility Criteria

All applicants must be:
   •   over 18
   •   resident on the Isle of Man for income tax purposes
   •   an Isle of Man worker as defined under the Control of Employment
       Acts OR hold a valid work permit in respect of your intended business
   •   committed to working not less than an average of 30 hours per week

   •   in control of your business

Ineligible persons

Applicants must not:
   •   be an undischarged bankrupt
   •   have outstanding debt judgements / executions
   •   have income tax, national insurance or value added tax arrears
   •   have a criminal record, where the nature of the offence may make it
       inappropriate for the Department to support the applicant

Ineligible operations

The application will normally be rejected if you intend to
   •   operate a business which is the same as or substantially similar to a
       business you have operated within the last five years
   •   operate a labour only service predominantly or exclusively to a single
   •   buy into an existing business
   •   operate a franchise
   •   operate a business which is contrary to the laws of the Isle of Man or
       which may bring the Department or the Scheme into disrepute


                              Your step-by-step guide

          Complete the application form & return it to the Scheme Administrator

Your application will be screened by the Scheme Administrator to ensure you meet the
                               basic eligibility criteria

    You will be invited to attend Part 1 of the course to learn more about the Scheme &
                  gain the basic skills necessary to run your own business

    You complete a marketing plan & attend Part 2 of the course during which you will
                         learn how to produce a business plan

The Scheme Administrator will put you in touch with an experienced business adviser.
  Your adviser will help you refine your business plan and compile your application

      The Scheme Administrator will forward the completed submission, along with a
                         recommendation, to the Department

     A senior officer from the Department will make a final decision as to whether your
    application should be supported. There is an appeals procedure if you disagree with
                                 the Department’s decision

     If your application is supported, you will be invited to sign an agreement with the

    Your business adviser will visit you at three monthly intervals (or more frequently if
    necessary) to monitor your business and provide further guidance where necessary.
          The monitoring will last for 18 months from the date of the agreement


Acceptance onto the Small Business Start-Up Scheme does not mean that
either the Department or the business advisers (who are independent
contractors) consider your business a sound and viable proposition. The
Scheme is to provide guidance and assistance only. Neither of these two
parties can be held responsible if the business fails and will not meet any
debts or liability incurred.

Application Form

Please complete the application form and return it to:

The Small Business Administrator
Hamilton House
Peel Road
Douglas IM1 5EP


If you have any questions or need any help with any aspect of the Scheme,
you can contact us at the above address or

     by email –

     by phone – (01624) 682396 / 682383


     you can visit our web site –

You may view the Tynwald Scheme by requesting a copy from us at the
above address or from our web site