BIC Blog

"5 Steps of Really Selling" BIC training event, 29th Feb

2012-02-24T10:33:00.000Z

Isle of Man Business Incubator is delivering a training presentation designed to help business owners improve their selling skills, understand sales process and boost sales.

The presentation was originally put together for incubator and Small Business Start up Scheme clients, but since we have some places free, we're extending the offer to the broader business community. The topic will be relevant for established and new businesses.

Top business coach and advisor Bransom Bean is presenting "Five Steps of Really Selling" on Wednesday 29th February 2012. The event is supported and organised by Isle of Man Business Incubator.

Event Details:

Presentation Title: "Five Steps of Really Selling"

Presenter: Bransom Bean

Date: Wednesday 29th February 2012

Time: 12 noon for 12.20 start, ends by 14.00

Venue: Sanderson Suite, Claremont Hotel, Douglas

Cost: £10.00, pay on the door

Refreshments: Tea / coffee / soft drinks provided (attendees welcome to bring their own lunch).

To book: e-mail kate@iombic.im quoting ref: SALES 29/02 in e-mail subject line. Please provide attendee name(s), business name and contact telephone number.

Places are allocated on a first come first served basis and are limited.

New appointee to run Women's Business Group on Isle of Man

2012-01-13T09:20:00.000Z

Douglas, ISLE OF MAN, 13 January 2011 - Forward Ladies has appointed Stephanie Frankham to run the business support organisation on the Isle of Man.

Stephanie works at Moore Stephens Trust Company Limited and is also training to become a Chartered Secretary, but had enjoyed being a member of Forward Ladies so much that she decided to run the organisation on a part-time basis.

Fresh from the Women in Business Awards in November, two Isle of Man businesswomen took major awards back to the island – Sheila Dean was International Business Woman of the Year, and Torie Kissack was the Young Business Woman of the Year – and Stephanie plans to hold an event celebrating the achievements of these Isle of Man businesswomen in February, along with successful women from the Isle of Man Excellence Awards.

Stephanie said: “On a personal level, I have found Forward Ladies very useful to get to know other professional women on the island. The island is such a small place, and the perfect environment for spreading information by word of mouth.”

“I am planning a whole range of events from coffee to cocktails, breakfasts and lunches, and I am going to be asking the members on the island what they want to see - whether it’s training, mentoring or speakers.”

“There are also companies on the island which want to work with Forward Ladies, as they can see the benefits in working with us and would like to help raise the profile of the organisation on the Isle of Man.”

Although born in England, Stephanie went to Zimbabwe with her family when she was very young, later moving to Zambia where she subsequently studied Business Management at university there. She has been working in the Fiduciary Services Industry since moving to the Island in 2006.

Forward Ladies was founded by Etta Cohen with a handful of women who met to find mutually beneficial ways of working together. It is now the north’s largest women’s business support organisation with a commitment to encouraging greater levels of female entrepreneurship. The network runs more than 300 events a year across the north, offers mentoring support to members, and provides opportunities to inspire and encourage women in their professional life.

Etta Cohen – who still runs the organisation said: “Forward Ladies is very inclusive; we welcome members from all walks of life, whether they are sole traders working from home, part-time workers, women working in businesses in law firms, accountancy practices and marketing agencies, MDs and corporate executives. Women make a valuable contribution to the economy and we will welcome all women at whatever stage they are at in their career.”

The success of the organisation is because the appeal is universal. “It’s not an elite organisation where you have to be invited to join, and no-one need feel that their own small business is not valid;” said Etta.

“We genuinely offer something for everyone. We have run workshops to help small business owners build up their knowledge and expertise through training and development. We have taken women to the European Parliament, highlighted with a dinner with the British Ambassador in Brussels, and taken a trade mission to Hong Kong. We have a programme of inspirational speakers, and hold annual conferences for International Women’s Day. Equally we have held networking events in restaurants, spas and shops. Forward Ladies reflects the dynamic and diverse interests of our members, which are many and varied.”

For more information or to reserve a place at a Forward Ladies Isle of Man event visit http://www.forwardladies.com/networking-in-isle+of+man or ring 0845 64 34 940.

Ends

Notes: Founded by Etta Cohen in 2000, Forward Ladies began as a small group of professional women meeting and sharing experiences. Since then, Forward Ladies has grown with its more than 11,000 members driving it forward and it's now the North’s fastest growing, women’s networking and business support organisations. It's mission: "Promoting and celebrating the engagement and participation of women in economic success by enabling women to be more confident in life and business through knowledge, contacts, support and friendship." Visit www.forwardladies.com for more information.

For further information relating to this news release: please contact Anne Crowther on 0845 6434 940.

Isle of Man Business Incubator Celebrates Accreditation Success!

2011-12-16T17:51:00.000Z

Kate Lord-Brennan, Isle of Man Business Incubator pictured with Hon. John Shimmin MHK, Minister for Isle of Man Government Department of Economic Development

Isle of Man Business Incubator celebrated obtaining accreditation from UK Business Incubation (UKBI), the industry body for business incubation at an event held last week at the Isle of Man Business Centre.

The UKBI Inspire accreditation process involved a review of business incubator policies, procedures and the team providing support to early stage companies. The review involved benchmarking these areas against best practice and included a visit to the Island by a UKBI assessment team in October.

The Isle of Man Business Incubator was originally established in 2008 and managed by Coventry University Enterprises. In 2010, the Department of Economic Development established a public-private sector partnership with the intention of enhancing support for local start-ups and also businesses looking to relocate to the Island. A key target of the new partnership was to obtain UKBI accreditation by March 2012.

Kate Lord-Brennan of Isle of Man Business Incubator was delighted that accreditation had been achieved earlier than planned. “This is major milestone and I am pleased with the feedback we received from the UKBI review team. The review process was very constructive and we obtained a lot of advice which will help us to continue developing.”

Keiron Broadbent of UKBI commented “The Isle of Man Business Incubator has done very well achieving accreditation and we would not expect to see a similar aged programme to be as developed in so many areas”.

The event at the Isle of Man Business Centre also marked Global Business Incubation Day. This provided an opportunity for entrepreneurs currently developing their business ideas to network with those running successful local businesses.

Minister for the Department of Economic Development, John Shimmin MHK commented: “This accreditation demonstrates the Government’s commitment to working closely with, and supporting, early-stage ventures. Through the fostering of local start-ups in addition to attracting inward investment, the Isle of Man maintains its position as a world centre for business.”

- ENDS -

NOTES:

About Isle of Man Business Incubator

The Isle of Man Business Incubator provides services and accommodation to early stage ventures on the Isle of Man and inward investment businesses looking to establish an Isle of Man base. The facilities and business support provided by the Isle of Man Business Incubator (BIC) are managed by Capital Select and supported by our primary sponsor and partner, the Isle of Man Government Department of Economic Development. The Isle of Man Business Incubator is an accredited member of UK Business Incubation, the National Business Incubation Association and network partner for the Microsoft Bizspark programme. Contact: 01624 647065, info@iombic.im , www.iombic.im

About UK Business Incubation (UKBI)

UK Business Incubation (UKBI) has been the UK’s and increasingly international principal and successful authority on business incubation, business incubation development and best practice since 1998.

It helps government and development agencies build thriving business incubation infrastructure that make increasingly significant contributions to local, regional, national and international economic growth, as thousands of incubated clients grow and move out of their business incubation environments and achieve sustainable commercial success in their own right.

About the INSPIRE Accreditation Process

The Inspire monitoring, development and accreditation process^© for business incubation is recognised by practitioners, stakeholders and governments as essential for business incubation and other early-stage growth environments such as innovation centres as well as business incubation activities within technology and science parks.

Based on the Business Incubation Development Framework (BIDF) and rigorous national and international research, it covers ‘physical’ and ‘virtual’ business incubation activity that provides specialist and targeted support and development to early stage and other growth companies.

In addition, the Inspire monitoring, development and accreditation process^© provides quality 'benchmarks' for stakeholders, funders and supporters (as well as potential clients) helping them to identify and then develop practices leading to the application and public recognition of best practice in business incubation.

About Business Incubation

Business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalise neighbourhoods, commercialise new technologies and strengthen local and national economies.

Media contact:

Kate Lord-Brennan, kate@iombic.im , 01624 647065

Call to Action for Aspiring Entrepreneurs

2011-11-28T11:26:00.000Z

"To turn really interesting ideas and fledgling technologies into a company that can continue to innovate for years, requires a lot of disciplines."
(Steve Jobs)

Isle of Man Business Incubator is issuing a call to action for aspiring entrepreneurs.

The incubator, which was established in 2008 in partnership with Isle of Man Department of Economic Development, provides a mix of space and specialised services for fledgling business.

The focus of the incubator is to help entrepreneurs develop businesses with high-growth potential that will benefit the Isle of Man by creating jobs, diversify the economy, stimulate innovation, promote local sourcing, support Manx exports and international trade.

As well as supporting experienced entrepreneurs and companies with spin out products, the incubator can help Isle of Man residents with an idea or invention they wish to test and validate in a supportive low risk environment.

Isle of Man residents can apply for free tailored support.

It is hoped that the incubator programme might support those residents considering a move from employment to entrepreneurship.

Isle of Man Business Incubator can be contacted on 647065 or at www.iombic.im where enquiries to join the incubator can be made online.

ISLE OF MAN FINALISTS IN NORTH WEST WOMEN IN BUSINESS AWARDS

2011-10-25T13:18:00.000+01:00

Two Business Women from Isle of Man gain recognition in Forward Ladies Women In Business Awards for North West and Isle of Man. Shelia Dean, Managing Director at Equiom for International Business Woman of the Year and Torie Kissack, founder, Imagination Station for Young Business Woman of the Year.

The success of women business leaders is being showcased at the inaugural Isle of Man and North West Women in Business Awards held by Forward Ladies, with the quality of business women on the Island being represented in two categories. There are nine separate award categories as well as an Outstanding Business Woman of the Year award chosen from the nine category winners. The awards will be presented at a prestigious awards ceremony in Manchester on 10^th November 2011.

Kate Lord said: “In April we were encouraging professional women to participate in these awards, which are new for us on Isle of Man, to showcase and celebrate female talent. We had a good number of applications from Isle of Man and the quality and talent of the businesswomen on the Island is represented by us having two women in the finals, even though we are a small community and share the awards with the North West. I am particularly pleased that the Island’s women are being recognised in the categories for International Business and Young Business Woman.”

Forward Ladies is a women’s business support community involving more than 12,000 professional women across the north of England and the Isle of Man.

Sheila Dean of Isle of Man global trust & corporate services business, Equiom, is shortlisted in the International Business Woman category, sponsored by UK Trade and Investment, while Victoria Kissack who runs Imagination Station – an entertainment and events company which supplies face painters, clowns, jugglers and entertainment artistes for events is shortlisted in the Young Business Woman category.

Sheila is a Fellow of the Association of Chartered Certified Accountants (FCCA) and has overall responsibility for Equiom's strategic direction and operational control.

In addition to her role as Managing Director, she is a relationship manager on a portfolio of international clients and is also a key contact for intermediary relationships. She plays a proactive role in driving business development and growth of the company's international business. A leading member of the Isle of Man business community, she is also a respected figure in the global trust and corporate services sector.

Victoria (Torie) originally started with children’s entertainment, but with a plan to expand the business to incorporate many more elements.

After only two days in business, she landed a corporate contract with Isle of Man radio station 3FM and has since worked with the Isle of Man Government, the Tourism Board, schools, charities and many more corporate clients. Due to customer demand she now has a team of self-employed circus performers, two more face painters, dance troupes, DJs, discos, and bouncy castles with more artistes added all the time.

Other finalists from the North West of England include care home owners, telecoms and television production managers.

Isle of Man Agricultural Advisory Service from DEFA

2011-05-12T11:26:00.000+01:00

Today BIC learned about this great service from Isle of Man Department of Environment, Food and Agriculture (DEFA).

The DEFA agricultural advisory service is a free service for all agricultural businesses in the Isle of Man, providing help and advice on a wide range of topics, both technical (what and how much to feed animals, crop husbandry, and so on) and business (cashflow, budgets, investment appraisals, account analysis, business planning, etc).

Through this advice provision DEFA brings together farms and related businesses who wish to diversify, either agriculturally (e.g. novel livestock such as milking goats) and non-agricultural (equine enterprises, holiday accommodation, and so on). To help facilitate some of these ideas Andrew McDonald, Senior Agricultural Advisor at DEFA has been running an action learning sets with farming groups. Assistance had been provided on the basics of farm diversification, in terms of the planning and market research, business planning, risk analysis, etc.

For more information on DEFA and the Agricultural Advisory Service visit http://www.gov.im/daff/ .

Notes from a small island | Opinion | The Engineer

2011-04-21T15:48:00.000+01:00

Notes from a small island Opinion The Engineer

The Isle of Man is one of those places that many people in the UK know little about. Ask around, and most can dredge up a fact or two: cats without tails; a flag with three legs; a notoriously dangerous motorbike race; kippers. But other important details aren’t so well-known. When I told friends I was heading there, one person asked me if there was a time difference. I said I thought it was about 40 years.
And in some ways, I was right; it’s certainly a slower pace of life up on the little island in the middle of the Irish Sea. The capital, Douglas, has a horse-drawn tram service along its seafront promenade; there’s a flourishing steam railway, used by locals and holidaymakers alike. But in other ways, the Isle of Man is far ahead of the rest of the UK, and could teach it some valuable lessons.
.Back in the 1980s, the island’s government, like the rest of the UK, decided that the future of its economy lay in financial services and built up a large sector. However, some 20 years ago, it took another look and realised that the economy had become unbalanced.
‘It really was a matter of not putting all the eggs in one basket,’ explained Adrian Moore, head of the Isle of Man Aerospace Cluster, a group of 17 aerospace companies now flourishing on the island.
The government took the decision to encourage the establishment of a high-tech manufacturing sector to bring some variety into its economy. Building on the presence of three large aerospace companies which had been established on the island for some 60 years — Ronaldsway Aircraft Company, whose roots are in ejector seat manufacture; valve specialist Swagelok; and GE Aerospace — it used a system of financial incentives to persuade companies to take root on the island. As a result, when the credit crunch hit three years ago, the Manx economy was more cushioned from its effects than the mainland’s.

Moore admits that some of the methods used by the Manx government would not be available to the UK; for example, the island’s corporate tax rate is zero, something which would not be possible here.
But asking around some of the companies, such as micro-turbine specialist Bladon Jets, laser optics producer CVI Melles Griot, component prototype maker Kiartys and body composition scanner manufacturer Bodystat, the key seems to be easy access to government and regulators.
‘We know who eveyone is, and we know that if we have a problem, we can talk to someone and get it sorted out,’ said Kiartys sales director Steve Riding.

Much of this is a function of the small size of the community. However, it’s undeniable that it’s working. The island has a growing reputation as a centre for innovative high-tech; a fledgling space sector is now taking shape, and is home to one of the entrants in the Lunar X-prize.
Moore is now looking at establishing a technical college and forming links with universities in the Northwest region, where the Manx economy already has many links, with a view to fostering the skills needed by the sector and to attract university spin-outs to the island.
Perhaps that famous motorbike race, the TT, has fostered a different attitude to risk among the Manx community. But there certainly seems to be something in the air on the UK’s tiny neighbour which the UK government should take notice of. The Manx economy is doing many of the things that the UK seems to be still only talking about, and we could do a lot worse than take a look.
Read more: http://www.theengineer.co.uk/opinion/comment/notes-from-a-small-island/1008352.article?cmpid=TE01&cmptype=newsletter&cmpdate=200411&email=true#ixzz1KAY0HUAp

Get BIC help with your delicious business idea

2011-04-18T13:31:00.000+01:00

Business Incubation can help Innovative Food Producers

Image from "Sell Your Speciality Food", a book with info on how to Market, Distribute, and Profit from Your Kitchen Creation by Stephen Hall. For more food entrepreneur resources, see http://bit.ly/hXWb38

Food producers are becoming more innovative and in trend as communities favour locally sourced foods with a trusted story behind them.

Kate Lord, Incubator Manager explains “ You don’t have to look far for inspirational examples of individuals who have brought innovative food products to market that have turned out to be high growth. Look at Levi Roots’ Reggae Reggae sauce or Kirsty Henshaw of Worthenshaws Freedom. The young female entrepreneur with no prior business experience developed dairy free frozen desserts and won investment from Dragons Den. Innocent Smoothies started very small and got investment of £30m from Coca-Cola in 2009. Locally, we have success stories too. The Apple Orphanage, Cocoa Red and The Original Manx Fudge Factory are great examples.

These inspirational stories of achievement show that people of all backgrounds can achieve success as food producers, with the right focus, support and drive. We’d like to help more of our emerging local food producer businesses through the Isle of Man Business Incubator.”

So what is business incubation?

Business incubation is a business development process designed to accelerate and support the successful growth of early stage ventures. The Isle of Man Business Incubator (BIC) is supported by the Isle of Man Government Department of Economic Development to assist Isle of Man start ups research, set up and grow.

What sort of business does BIC assist?

BIC’s primary focus is to support ventures with high growth potential. This means supporting entrepreneurs whose business aims to create jobs and aspires to serve markets beyond the Isle of Man (exporting). Additionally, business incubation is used in small communities to promote local sourcing (import replacement), diversify the economy, drive regeneration and support innovation. In short, BIC selects clients that are doing something innovative in one way or another, and have an appetite for growth. Many of our clients are technology or knowledge based companies.

How does BIC help businesses?

Support is flexible and tailored, depending on needs. It can range from help with research, idea validation, product development, business planning and marketing to providing mentorship and a place to work from. A key benefit accessed by incubator clients is the wealth of contacts and experts the incubator can provide. For example, we work closely with the Chamber of Commerce and have good connections with many local service providers who are keen to help start ups. BIC helps guide entrepreneurs through the range of help available.

What sort of food, agriculture or environmental industry business may be assisted by Isle of Man Business Incubator?

BIC looks to help pre-start up or early stage businesses (less than 18 months old) with its Get Going Programme, which is free upon successful application.

Support can be relevant to:

- people planning or researching a business idea, product or invention

- those starting a business

- existing businesses planning a spin-out operation

- existing businesses looking for a new entrepreneurial team to take the business forward (aiding with succession issues in family business)

- people looking to get involved in a new venture, but not sure where to start.

To find out more or apply online visit www.iombic.im or call 01624 647065

Article written for AgriNews published by Isle of Man Department of Environment, Food and Agriculture http://www.gov.im/daff/

A New Home For Business Incubation on the Isle of Man

2011-01-17T10:03:00.000Z

From L-R: Peter Long and Walter Gilby (Capital International Group), Clare Christian MLC (political member, Department of Economic Development (DED), Tim Craine (Director, Business Development Agency, DED), Kate Lord (Incubator Manager), Alex Downie MLC (political member, DED), Mark Gilson (Managing Director, Capital Select), Anthony Long (CEO, Capital International Group)

The Isle of Man Department of Economic Development (DED) and Capital Select Limited have announced a new partnership for the Isle of Man Business Incubator (previously Isle of Man Business & Innovation Centre).

The new partners and plans were introduced at an event on Global Business Incubation Day (8th December) which celebrates the impact and achievement of business incubation across the globe and the success of home grown talent.

The partnership will mean enhanced support for entrepreneurs and fledgling businesses on the Isle of Man through the use of local sourcing and private sector partners.

As part of the changes, the business incubator’s primary site is now the prestigious new Isle of Man Business Centre at Capital House in Douglas which is also home to Isle of Man Chamber of Commerce.

Development plans for Isle of Man Business Incubator (BIC) include working towards accredited status awarded by UK Business Incubation, enhancing support programmes to on and off island businesses choosing an Isle of Man base and creating multiple incubation environments for growing businesses.

Minister for Economic Development, Allan Bell MHK, commented: “The establishment of this new partnership reinforces our commitment to supporting innovation and entrepreneurship in the Isle of Man. I’m confident that these excellent new facilities, coupled with the dedication of the teams in my Department and Capital Select, strengthens our proposition for both start-ups and developing businesses and will further help our policy of further diversifying the economy.”

Mark Gilson, Managing Director of Capital Select Limited, commented: “We are pleased to be working with the Department of Economic Development to manage and develop the Isle of Man Business Incubator. I am confident that, working together, we can build on the success already achieved and take business incubation on the Island to the next level.”

Business incubation is an established tool in economic development. The provision of start-up assistance including vital space, services, knowledge and contacts are proven to stimulate development of successful enterprises, drive innovation and technology commercialisation, helping to create jobs, attract new business and diversify local economies.

What is a Business Incubator anyway? The Role of Business Incubation in Communities

2010-12-03T16:14:00.001Z

Business incubation is a term describing a business development process that is used to grow successful, sustainable entrepreneurial ventures that will contribute to the health and wealth of local, regional and national economies. Incubators provide a place for businesses to build their foundations.

Business incubators use a combination of physical space, resources and services to help developing businesses progress, thereby breaking down the barriers to success, reducing risk and increasing the chances of survival and success of early stage ventures. They connect enterprises with vital support.

How is this achieved?

All incubators are united in their provision of:

- A beneficial environment that contributes to the development of entrepreneurial ventures as well as fostering networking between incubator clients and creating business opportunities;

- Ready access to mentors, advisors and potential sources of capital (government assistance and potential investors)

- Visibility and profile in the marketplace.

Incubation environments are usually located in areas with good communications and desirable address. They offer flexible space, short term leases, favourable rates and shared resources and equipment.

Does that mean that incubators are basically serviced offices?

No. Incubators are different from serviced offices and accountancy firms (which offer financial and company incorporation services) by the breadth of support they offer using a defined progress path for enterprise development and specific business incubation processes. The role of the incubator in the community means that diverse support and expertise can be offered through a network of contacts. Support is impartial, rather than tied to a particular supplier (private incubators may be different). Most incubators will have an entrance and exit policy for clients and define key milestones for the business to track, monitor and expedite progress.

Incubators often have a specific remit, usually reflected by the goals of the primary sponsor. This may be to help the development of emerging sectors or focus on high-value or knowledge based businesses. Business incubators exist for all sectors and can even include kitchen incubators (for rural or food industry) and creative incubators (for arts, music and film).

Incubators are often linked with academic institutions assisting graduate start-ups and university spin-outs seeking to licence intellectual property or commercialise technology.

Possible Outcomes of Business Incubation:

- Job Creation

- Technology Commercialisation

- New Business formation

- Wealth creation

- Tax Revenue Generation

- Neighbourhood revitalisation & regeneration

- Economic diversification

- Community Development

- Empowering women, minorities and low-income individuals

- Encouraging an entrepreneurial culture in communities that have long relied on large corporations for employment.

What is the benefit to the local and business community?

Incubators are part of a larger value chain. Most incubators connect their clients to local services providers (such as lawyers, corporate service providers or accountants) establishing relationships that will last after the company leaves the incubator.

Once an enterprise is ready to leave the incubator environment, they will need space to move into, giving a boost to property developers and landlords. Business incubation provides credibility through process so landlords can be more confident that a stable, growing business can be a reliable tenant.

In this way, it is in the interests of local service providers, government and incubators to work together to give growing enterprises the best start possible to make them sustainable and successful to generate more business for the area. For this reason, many service providers will provide free or reduced services for incubator clients. Similarly, experienced business people work with incubators to act as mentors or advocates for the incubator as most entrepreneurs are happy to share their experience with a new or aspiring entrepreneur.

Why do governments support incubators?

Small and growing businesses are the backbone of the economy. Enabling their success is a sure-fire way to enhance the economic development of a region, creating wealth, economic growth and jobs.

This is why, in response to the global economic challenges of recent years, the US, UK and other countries have stepped up their support for incubators and highlighted the importance of supporting new business and entrepreneurs to stimulate economic growth. President Obama this year proclaimed National Entrepreneurs' Day in the US to honour entrepreneurs and their role as catalysts for creating new industries, businesses and jobs. During Global Entrepreneurship Week, UK Prime Minister David Cameron urged “more people to make a job rather than take a job".

Entrepreneurship and therefore incubation, is higher on the agenda than ever before as communities look towards small business and entrepreneurs to grow and perhaps save economies as we go into the next decade.

Additionally, incubator subsidies have a high pay-back value, creating longer lasting impact and more jobs that capital projects. Furthermore, companies receiving incubator support are more likely to remain in the local community.

Incubation and broader economic development strategies: inward investment

As well as starting and retaining businesses in the local community, incubators commonly have a role to attract new business to a region.

To this end, some incubators offer “soft landings” programmes to attract and support non-national companies and operations to a region (inward investment).

The Isle of Man Business Incubator (BIC) offers this facilitated support to companies considering and in the process of locating to Isle of Man. BIC’s present Soft Landings programme is free and assists potential Isle of Man locators by helping them learn about the Isle of Man, planning facilitated visits tailored to their needs, providing the introductions and knowledge they need (connecting with both government and private sector) and giving them space and support once they get to the Isle of Man. This makes business relocation much easier and less expensive, helping businesses get the full advantage of setting up offshore.

Going the extra mile (or more)

BIC also has contacts in key markets across the globe to help client businesses expand from their Isle of Man base.

I work at a private sector firm offering financial and company services - how do we get involved with the incubator?

Great! BIC wants to work with you and hear about any particular benefits you can offer fledgling businesses or companies relocating to the Isle of Man.

We can help add value to your clients / services and convert your prospects if you let them know about BIC or pass enquiries to us. Since we are not competing, we can work together and the incubator can help with very early stage ventures that will hopefully become long lasting relationships for you.

The Isle of Man and Business Incubation

The Isle of Man’s independence, resilience, diverse economy, infrastructure and offshore status makes it an attractive home for growing businesses, offering a range of financial incentives for businesses locating here. BIC’s support helps unlock that, offering people the chance to get a greater return and reward for their activities.

It’s not all about tax, finance or inward investment however. Business incubation on the Isle of Man will help people wishing to take charge of their own destiny and lifestyle, helping them create ventures in a supportive environment, reducing the risk as they take the leap into running their own business. As the world shifts in focus and priorities, the outlook for incubation and entrepreneurs on the Isle of Man as we go into the next decade will be more support, more freedom, sustainable enterprises and a valuable point of difference for a small but important offshore jurisdiction supporting entrepreneurship.

For more info about BIC’s services visit www.iombic.im

Fantastic Feedback from Marketing Clinic Event

2010-11-24T12:58:00.054Z

We got some fantastic feedback from the businesses and entrepreneurs assisted at the Chartered Institute of Marketing (CIM) and BIC marketing clinic event, so I thought I'd post it here.

Thanks go to the CIM consultants for volunteering their time and expertise, Capital International for their support as sponsor and of course all the businesses who participated.

“I had a very good meeting and feel that I am more secure in what I am doing to promote our Company to take it forward and also got some good ideas from the consultant too. You can never learn enough about running a business and it is satisfying to know that the Isle of Man Government do everything in their power to support small business.”

“The appointment was of benefit to my business – the consultant had some great practical ideas to get me focussed and started. 45 mins was sufficient to offer some meaningful advice. Kate was also there to follow up on some general business advice”.

“We found the event both of interest and it was helpful to us as we found our advisor knowledgeable in terms of building a marketing plan.”

“We had prepared in advance a fairly comprehensive plan so it was pleasing to hear from our advisor that we had not missed any glaring modules in our implementation.”

“It clarified that we are on along the right lines with marketing but as always we have a very restrictive budget for this."

“It was lovely to meet you and thank you for forwarding the extra details to me, it's very much appreciated.”

“Congratulations on holding such a successful Marketing Clinic, I know I received a great deal from my meeting.”

"The appointment was very beneficial to me – it confirmed I was on the right track with many of the things I am doing and highlighted/gave ideas of what else I could be doing”

"Very relaxed and professional – they gave their full attention and really good advice. At no point did it feel like a free advice appointment!”

“I found the meeting to be of great help and has reinspired me to move forward, it’s a difficult time for many, especially new business. I found the consultants ideas and thoughts very helpful indeed and would highly recommend her."

"The meeting was very beneficial and all the people I met were professional and helpful. It gave me ideas to look into to promote my business and think clearly about customer perception.”

“I found the event very worthwhile and the consultant had a good understanding of the nature of the business I’m in and the type of clients I need to reach. He had some great ideas and suggestions that I now need to follow up.”

"For the first time in 175 years I now believe that my business now has the basis of a marketing strategy. Cathy who we saw carefully explained the 7Ps, something that I had never been aware of. From this we have been able to "sort ourselves out" rather than relying on advertising as and when it feels like a good idea. Here's to the next 175 years!"

“Thank you for last week. I know how much organisation that sort of thing takes and wanted you to know how much I appreciated it.”

“Huge thank-you for all the useful information that you willingly provided. I feel inspired and energised!! I very much appreciate your practical advice.”

“The Clinic was really good and of great benefit.”

“I was very impressed with the professionalism and friendliness of the Chartered Marketer that I consulted with. She had at her fingertips easy solutions to what I thought were problems. A very inspiring consultation.”

“Just wanted to say thank you for the appointment it was very helpful- the guidance is already helping. Just sent 2 emails and they both came back and said they love the web site ! A big thank you!”

Success for First Ever Marketing Clinics Staged on the Isle of Man

2010-11-23T12:46:00.001Z

Marketing clinics organised by The Chartered Institute of Marketing (CIM) and Isle of Man Business Incubator (BIC) were a resounding success for local businesses.

At the first event of its kind on the Isle of Man, thirty businesses from a broad range of sectors including manufacturing, software, local produce, healthcare, retail and professional services benefitted from tailored expert marketing guidance provided by twelve Isle of Man chartered marketing professionals who donated their time to provide dedicated 45 minute appointments.

Kate Lord, Isle of Man Business Incubator said, “The outstanding success and interest in the marketing clinics shows the appetite of local businesses to access continued learning opportunities to improve business performance and be competitive. That we can hold this event using local expertise is evidence that investment by government in professional programmes, such as CIM and business start-up support works and has payback and value in the broader business community.”

Participating businesses were a mix of graduates and clients of BIC, Small Business Start Up Scheme and local businesses, established and new. Endorsement and feedback was excellent with most participants saying the advice benefitted their businesses, provided focus, helped them look at the most profitable activity and inspired them to achieve more.

CIM Isle of Man Chair Cathy Cowin said: “We are delighted at how successful this event has been. The feedback we have received is wonderful and we are pleased to have been able to facilitate this event and offer marketing expertise to a cross-section of local businesses. It was the perfect time to stage the clinics, during a week which celebrates marketing. We hope to host this event again as it provides a helping hand to professionals in what is an important and essential process.”

The clinics were held during Marketing Week at the new Isle of Man Business Centre with the generous support of Capital International.

Igniting Advocacy Through Social Media

2010-03-26T18:00:00.001Z

Check out this SlideShare Presentation:

Blur Pma Chicago - Igniting Advocacy Through Social Media

View more presentations from Brandon Murphy.

Entrepreneurs and Enterprising People

2010-02-20T09:49:00.013Z

Are you an entrepreneur? Entrepreneurs are
“People who create and innovate to build something of perceived values around opportunities they spot”
Bill Bolton and John Thompson

Spotting opportunities is the key – ideas are great, but how many convert to successful ventures? Inventors on the other hand, may not be entrepreneurs - but a capable entrepreneurial team may lead to successful commercial exploitation.

Enterprising people also build businesses, but not ones with comparable growth and overall impact. They might be micro businesses operating locally or in niche markets; lifestyle businesses or “mom & pop stores” not seeking growth opportunities. Both entrepreneurs and enterprising people are important contributors to growing the economy and most regions have business support schemes for both.

What sets entrepreneurs apart?

• They create, innovate and build something of value, working on their business rather than for it.
• Growth momentum is maintained with opportunity after opportunity, often building business after business.
• Entrepreneurship is a way of behaving that drives the change agenda. Entrepreneurs are not just found in business (see also Intrapreneurship). It involves positive attitude, ability to work with and persuade others and a capability to look at the bigger picture.
• They engage with contacts, resources and support to enable advantage.
• They proactively manage their own CPD and take responsibility for their development and positioning.

The Entrepreneur Indicator

Bolton & Thompson have developed framework for spotting entrepreneurial potential based on character themes.

Use it to measure your entrepreneurial potential – you can even use their online indicator at www.efacets.co.uk.

FACETS is an acronym for
• Focus – targets and delivers
• Advantage – picks the winning opportunities
• Creativity – comes up with ideas
• Ego – inner – drives you ever forward Ego – outer – meets the challenges head on
• Team – multiplies your potential
• Social – delivers on a cause

Are you an entrepreneur in waiting on the Isle of Man?

Business incubators are key resources for enabling entrepreneurs, so contact yours now. Our incubator, Isle of Man Business and Innovation Centre, can help develop your idea and grow your venture. Contact 01624 820930 or info@iombic.im .

2010-01-16T12:12:00.001Z

Websites on a Budget (or with no budget)

2010-01-07T17:09:00.006Z

Ah, the tangled web of web design! This topic comes up frequently, where can you start? Before you do, consider the following and avoid wasting time and money.

Purpose- is it a brochure site, primary route to drive sales, an e-commerce site?
Budget- how much can you spend - and remember even "free" takes up your time (or someone else's).
Content management solutions- think beyond the first site build - so you have a glitzy site by a pro web developer - are you happy to incur a cost each time you need a change? Or do you need to alter content quickly, with a WYSIWYG editor.
Your capacity - can you / should you do it on your own? Do you need outside help?
Logos and branding - if you have a logo, can you access it in various formats and integrate into the website, maintaining a good quality? If you don’t have a logo yet, tackling your corporate branding and website at the same time is a good idea.
Key Messages – Decide on key messages. Be concise, avoid repetition, redraft for tight copy.

Getting online - the options

Online web design packages: Free and inexpensive online solutions do the job for many start up and small businesses with a limited budget. Step-by-step support, templates, packages for e-mail marketing, hosting, multiple mailboxes and sometimes even logo design provide a good, if not unique starter solution. If you can use Word, you can use solutions like provided by Google Sites, Microsoft Office Live Small Business, GoDaddy and Vistaprint . Easy content management is what these solutions are all about. Do your research on limitations though - for example, Microsoft's solution is good but will not integrate with the Isle of Man (.im ) country code TLD. You can get a site up with a couple of hours work.
Online Packages with professional support: Specialist support or pro-designers work for you with the above online packages. Source specialists through the provider or companies like Elance.
Freelance Contractors: Can be seemingly very cheap (hmmm) but what is the working relationship and ultimate cost? When outsourcing to a remote worker, make sure you have a clear working agreement, clear communication / reporting, set project milestones with outputs, a completion date defined and a payment structure that works for you both. Get referrals and testimonials when working with freelancers.
Web design / marketing companies*: Pro services create pro websites that will grow with your company's needs. Bonuses are that they take care of your marketing and CRM needs and you can have an ongoing relationship with them. Talk about content management at the outset. There may be a system such as Graffiticms that can work for you. Compare providers and meet them face to face.

*Note: The Department of Trade and Industry's Business Support Scheme can help with funding for web design as part of a Marketing Project. Isle of Man service providers accredited for this scheme will be able to assist.

Beware

Relying on a trusty friend-of-a-friend who can sort your new business website for you, no problem is risky. Do you really trust them with your fledgling business and apply pressure at deadlines?
Learning real web development (mark up and coding) takes up lots of time and won't make you any money unless it is your core business.
Freelancers who are not near enough to deal with personally when they do not deliver can ruin projects, schedules and budgets.
Poor web copy is easily created. Review, edit and get someone to check for you.

The bottom line: Keep it simple, think it through and choose a solution that meets your needs. Web design can be a quick and satisfying way to get your business online without spending huge amounts of cash.

IoM BIC has a blog

2010-01-07T12:20:00.007Z

2010 resolution: share knowledge and information more effectively.

I’m Kate, incubator manager at the Isle of Man Business and Innovation Centre.

I’ll share information and articles relevant to early stage businesses and entrepreneurs on my blog. I’ll also write about the Isle of Man Business and Innovation Centre's activities, the Isle of Man as a place to do business and business incubation generally. Three things close to my heart.

For existing members of the Isle of Man Business and Innovation Centre (BIC) or any start-ups on the Isle of Man, I hope the posts will add to your knowledge bank, inspire you and give you links to some good resources.

Early stage businesses and aspiring entrepreneurs share many common issues. Mostly, these are solved by sharing knowledge, working together or asking others. I know this from personal experience (I set up my own business, My PA and have encountered many new and growing businesses at the BIC), through many hours of internet and other research and through contacts and colleagues on and off Island.

I'm happy to share to save others time and boost their business. Guest bloggers are welcome on this site. To write an article on a particular topic, just get in touch.

Make 2010 the year to jump start and power up your business!