• Helping Business

    Helping Business

    Part of FIDC’s mission is to enable the private sector to successfully secure and maximise new and existing business opportunities across all sectors of the economy. Whether you are looking to establish a new business or expand an existing one, FIDC provides assistance and incentives in the form of business advice and access to funding.
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Grants

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FIMCo Supplier Support Scheme-      

As a consequence of the global pandemic, the Falkland Islands Meat Company (FIMCo) has cancelled the full export season due to the risk to staff. A modified export season has also been introduced in light of the fact that the UK has maintained tariff-free access to the EU for meat products.

As a result, the FIMCo Board has approved the FIMCo Supplier Support Scheme for 2021 to provide relief for meat suppliers in light of current issues by compensating farmers scheduled to provide supplies to FIMCo that cannot be processed anymore. Mutton not able to be processed by FIMCo will be supported at a rate of £10 per head; no payment will be made for culled sheep. For the 2020 year, FIMCo provided a maximum of £370,000 worth of financial support with 22,000 mutton expected to be processed in 2021. Payments will be administered by FIDC who will work with FIMCo to ensure that payments are processed.

A number of ‘general industry support measures’ are also available to rural businesses alongside the FIMCo Supplied Support Scheme 2021.

Full details can be found by using the using link below-

FIMCo Supplier Support Scheme info

The Thermal Energy Grant Scheme is available to assist owners of occupied residential properties (including Landlords) to purchase and install a renewable heating system as a secondary source of heating.

The assistance available under this scheme is,

  • A grant of 50%, up to a maximum of £2,500 to cover the capital costs of an appropriately sized renewable heating technology and its installation.

For further information please read  pdf Thermal Energy Grant Scheme (330 KB) or contact the Development Manager, Tel +500 27211 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

The Rural Energy Additional Generation Grant Scheme is available to assist rural businesses that have benefited from the Rural Energy Grant Scheme. The business must demonstrate that the demand of electricity has increased or the business has expanded since the installation of the energy system part funded by the Rural Energy Grant, the consequence being that the business is more reliant on fossil fuel generated electricity, or demonstrate that the additional generation capacity to be installed will be beneficial to the business’ further development.

The assistance available under this scheme is,

  • A grant of up to 50%, up to a maximum of £2,000, to cover the capital costs of a secondary renewable energy technology with a maximum electrical output of 2,000kWh per year (for example 2.5kW Solar PV array) and its installation.

For further information please read the application form using the following link: Rural Energy Additional Generation Grant Scheme Form

or contact the Development Manager, Tel +500 27211 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

The Energy Loan Scheme provides financial assistance to businesses with the capital costs of an energy system and its installation.

There are two options available under this scheme:

  • An unsecured loan with a maximum budget available of £20,000 and a maximum repayment period of 5 years.
  • A secured loan with a maximum budget available of £50,000 and a maximum repayment period of 10 years.

 

For further information please read  pdf Energy Loans (497 KB) or contact the Development Manager at +500 27211 or email at This email address is being protected from spambots. You need JavaScript enabled to view it.

The Falkland Islands Development Corporation’s mission is to encourage and assist in the economic development of the Falkland Islands. To meet this end, FIDC is able to provide financial assistance to local businesses to aid them in meeting their objectives. The limit on this grant is £5,000 or 50% of the total project cost, whichever is the lowest. The applicant must be able to fund 50% of the project cost themselves and are welcome to apply for a loan from FIDC, should they consider it as beneficial for their business

In order for an application for assistance to be considered, the following conditions must be met:

  • The proposal helps FIDC meet its aim;
  • The grant is for business purposes;
  • The business must have five or less employees;
  • The business must be a “local” business, with the majority of it’s turnover staying within the Falkland’s economy;
  • The Business must be based within the Stanley boundary as defined by the Enviromental Planning Office;
  • If an established business, it can prove that there are barriers to it’s growth through the provision of accounts;
  • A completed signed application form has been received.

The Falkland Islands Development Corporation’s Credit Committee will make the decision on whether to support your application. The Credit Committee meets once a month. Following the meeting, we will contact you to inform you of the Committee’s decision.

If you would like to apply for funding from this grant scheme, please download and complete the following form;

document  The Small Business Support Grant Scheme Application Form

 

For more information regarding this grant, please contact Louise Ellis, Development Manager, T: 27211 or E:This email address is being protected from spambots. You need JavaScript enabled to view it.

About the FIDC

FIDC acts as the national economic development agency for the Falkland Islands and is tasked to develop the commercial sector of the Falkland Islands by being one of the principal partners delivering the Economic, Rural and Tourism Development Strategies.

To help drive sustainable economic growth and assist in the creation of new jobs and opportunities, FIDC provides various forms of support and assistance to the Falkland’s business community.