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IoM Businesses Positive About Future, Survey Says

by Jason Gorringe, Lowtax.net, London
28 February, 2018

Isle of Man businesses are optimistic about future growth prospects, according to a business confidence survey released by the island's government last week.

The first annual 2017 Business Confidence Survey indicates a general business environment of optimism and the anticipation of growth, with 92 percent of all surveyed businesses saying they would recommend the Isle of Man to others as a good place to do business.

The most confident sector is financial services followed by retail/wholesale, while the least confident sector is construction.

Employers across all sectors anticipate an increase in employment, and are, on average, more optimistic about business growth over the next six months as compared with growth observed over the previous six months.

The majority of businesses (58.2 percent) indicate they already pay all employees at or above the proposed Isle of Man living wage, with the majority of businesses (70.7 percent) offering at least one form of flexible working arrangement to at least some of their employees.

One in four employers is satisfied with the current work permit system, and nearly three-quarters of employers feel it is easy to do business on the Isle of Man.

The survey also shows businesses have a high level of satisfaction with government services, utilities, and the island's communication infrastructure.

The Isle of Man Business Confidence Survey 2017 report is available on the Economic Affairs Division section of the Isle of Man Government website.

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