Work has re-started on Douglas Promenade Refurbishment Scheme with businesses and shops re-opening in the capital.
DOUGLAS PROMENADE SUPPORT SCHEMES
The Department for Enterprise is committed to supporting businesses on the promenade and its adjoining streets whilst the Douglas Promenade Refurbishment Scheme is ongoing.
The Refurbishment Scheme is a multi-million pound project to reconstruct the highway infrastructure along Douglas Promenade. The work will encompass the aspirations and needs of all the promenade users and stakeholders and once complete, will improve traffic flow, footpaths, and cultural areas.
Although the Department of Infrastructure is leading on the Refurbishment Scheme, the Department for Enterprise has created three business support schemes to support local businesses affected by the works:
The Douglas Promenade Grant Scheme
Single grant payment of £6,000 for businesses that evidence 20% downturn in turnover (available to all sectors)
The Douglas Promenade Support (No.2) Scheme 2019
Unsecured, interest free loans of up to £50,000 to retail and hospitality businesses (sector restrictions apply)
It is important to note that the schemes are NOT mutually exclusive for eligible businesses, meaning some businesses may be able to receive support under one or more schemes.
Applicants are encouraged to complete the enquiry form and discuss the requirements with the Department before applying. Enquire now via the green button to the right.
The Department has several other Enterprise Support Schemes to support local businesses, which promenade businesses may be eligible to apply for.
Learn more about the other schemes below:
The Business Improvement Scheme
Matched funding available up to £5,000 to engage external consultants to undertake projects such as website development, marketing and environmental efficiency.
The Business Energy Saving Scheme
Unsecured, interest-free loans up to £20,000 towards the cost of a project that improves energy efficiency.
The Town & Village Regeneration Scheme
Grant of up to 50% capped at £10,000 for projects that improve the appearance of commercial premises and create civic amenity projects within the Island’s Towns and Villages.Updated on 19 May 2020