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hagar the horrible

Enterprise Development Scheme.

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29 minutes ago, Donald Trumps said:

Perhaps a Tynwald member will question the veracity of the figures put forward, on behalf of the voting public

Are you taking the piss? Tynpotwalders challenging and probity do not go together hand in hand. They only work, if there is some hidden agenda or the usual vested interests - not that the Tynpotwalder would admit. This crop of Tynpotwalders are weak, spineless and morally morose. The easiest way to neuter an MHK/MLC prior to a Tynpotwald sitting - especially if there are contentious topics such as the Michaels Report etc - is to let them go on a) training course or b) a conference.

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6 minutes ago, Derek Flint said:

Bridge Angel Network is shutting up shop after 3 years.

I think that speaks volumes.

Yes and where do you see those sort of services closing up shop elsewhere in the UK? Sadly I think they have realized that most activity in that area relies on some sort of referral to Isle of Man government or the DfE who aren’t really interested in doing anything for our economy just for themselves where they wish to take no risk in case something goes wrong. That and the crazy stance the regulator has taken on regulating crowdfunding here means that nothing is actually worth the effort. The rest of the world is making huge sums from this sort of activity, except here where you aren’t free to do what needs to be done to create growth. 

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9 minutes ago, Derek Flint said:

Bridge Angel Network is shutting up shop after 3 years.

I think that speaks volumes.

Their news release[1] is quite interesting as to the reasons:

Quote

“Firstly, there have been changes to the Enterprise Development Scheme (EDS) and changes within the Department for Enterprise, seeing the management of EDS, internalised into DfE.

“Secondly, our future direction and strategy was to include initiatives similar to those seen in the UK, such as crowdfunding and angel investor syndicates. Having discussed our position with the relevant advisors, this was deemed to be ‘regulated activity’, which presented a conflict of interest for our corporate sponsors. These combined factors, put Bridge in an untenable situation and the unanimous decision has been made by the Board, to bring things to a close.”

Both these problems seem to relate to government actions (or possibly inaction) actually making things more difficult for entrepreneurs. It's especially interesting that they seemed happy to work with the private company, but not the Department itself.

That said the Tynwald answer I quoted above says that "the last information published in December 2019 showed that £3.937 million was invested in businesses by Spark Impact and 20 jobs were created as a result".  Which hardly very impressive.  But then I suppose the same activity might have led to an estimate of 2,345 jobs if the Starship had been running things[2].

[1]  Unlike dilligaf I can google.

[2]  There's a nice example of this earlier in the Tynwald Answer, where they proclaim

Quote

Over the last three years almost 4,000 jobs have been added to the economy and the Department and its various functions have supported this overall growth with over 1,075 jobs added in the last 12 months alone.

which a hurried reader might think means that they were responsible for the 1,075.  But all it actually says is that they have 'supported' job growth in general with them actually having no claimed contribution to either number. 

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Presumably they can account for these 4000 jobs? If they can arrive at such a figure they must know where they are?

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It's good to note that the Department, much like the Starship, does in fact have a mission:

The Department for Enterprise’s mission is “to create an environment, through innovation and collaboration , where the economy thrives................."

Nothing about boldly going anywhere though.

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12 minutes ago, Non-Believer said:

Presumably they can account for these 4000 jobs? If they can arrive at such a figure they must know where they are?

I would assume these are overall job figures from Economic Affairs Division, which course is in the Cabinet Office rather than D of E.  That said it doesn't really tie in with the information in the latest Quarterly Economic Report, which shows a rise in employment  of only about 1,700 over the last three years.  Of course they may be claiming credit for new jobs added and ignoring those which have been lost.  Also  jobs isn't quite the same as employment because someone might have more than one job.  But it's still a big discrepancy.

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Posted (edited)

Public Administration making a big leap in employment numbers according to the March 2019 report

Maybe thats where the jobs are being created

Edited by Donald Trumps

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3 minutes ago, Donald Trumps said:

Public Administration making a big leap in employment numbers according to the March 2019 report

Thats where all the jobs are being created

Fixed.

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Jobs are being created in public administation, health, education, & IT

Government isn't getting smaller

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Including the recent advertisement for Mr Harmer's £40k "Communication Assistant".

AKA Brew Bitch.

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Open and honest Government!!!

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1 hour ago, Roger Mexico said:

Their news release[1] is quite interesting as to the reasons:

Both these problems seem to relate to government actions (or possibly inaction) actually making things more difficult for entrepreneurs. It's especially interesting that they seemed happy to work with the private company, but not the Department itself.

That said the Tynwald answer I quoted above says that "the last information published in December 2019 showed that £3.937 million was invested in businesses by Spark Impact and 20 jobs were created as a result".  Which hardly very impressive.  But then I suppose the same activity might have led to an estimate of 2,345 jobs if the Starship had been running things[2].

[1]  Unlike dilligaf I can google.

[2]  There's a nice example of this earlier in the Tynwald Answer, where they proclaim

which a hurried reader might think means that they were responsible for the 1,075.  But all it actually says is that they have 'supported' job growth in general with them actually having no claimed contribution to either number. 

Dilligaf had googled and reposted before you started your novel.

But thanks yet again for the put down.

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2 hours ago, woolley said:

It's good to note that the Department, much like the Starship, does in fact have a mission:

The Department for Enterprise’s mission is “to create an environment, through innovation and collaboration , where the economy thrives................."

Nothing about boldly going anywhere though.

More like boldly going nowhere.

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Joshua Slocum (SP?)" boldly sailed where no man had sailed before" in around 1895 if memory serves (and his boat wasn't the "Flying Enterprise").

Just saying

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Bridge was a good outfit set up by good people. But the seed investment landscape here is not good. For a start, you can’t get EIS or SEIS tax relief. So if you have a UK exposure, you are better off investing there. The attempt that they made in drafting a UK scheme here was a joke, HNW tax cappers were essentially excluded from the benefits. It seemed to have been lost that these are the ones with the money, and that if they were investing heavily on the Island, what did it matter if they lowered their tax a bit further?

How on earth they have managed to strangle crowdfunding by regulation is beyond me. But it is what it is, and simply means we lose more and more opportunities. 

It is a crying shame.

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