Isle of Man events support fund aims to boost winter trade

The fund aims to encourage more events in town centres to boost footfall

A fund to support events in local communities on the Isle of Man is being relaunched to boost trade during the winter months, the government has said.

The Domestic Events Fund was set up in the wake of the Covid-19 pandemic to encourage people back into town centres.

The grants will be made available to local authorities, charities and community groups.

Payments will cover up to 80% of the cost of staging an event.

The government said the fund, which was initially set up with a £500,000 budget, had previously paid out more than £300,000 to support about 80 events, which attracted 220,000 people.

'Challenging time'

Pubs, clubs, restaurants and cafes will also be available to apply for funding of up to £1,500 to host live music and entertainment events.

All funded events must take place by 31 March 2023.

Enterprise Minister Lawrie Hooper said the rising cost of living meant the winter months would be "another challenging time for our residents and businesses alike".

Providing funding would "reduce the risk associated with running these types of events", he added.

In addition to the grants, the Department for Enterprise is also reintroducing two LoveIOM Gift Card incentives to encourage spending in local shops and hospitality venues.

Mr Hooper said that initiative would play "an essential role in keeping gifting spend within our economy versus being redirected off-island in the form of online market place vouchers".

"The card is seen as a win-win for both residents and businesses with the latter benefiting from a boost in patron numbers in slower trading months post-Christmas period," he added.