WORKING TOWARDS A HIGHLY SUCCESSFUL, DIVERSE AND SUSTAINABLE ECONOMY FOR THE FALKLAND ISLANDS
FIDC was established in 1983, in response to the recommendations made in the Shackleton Report (1982). 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. FIDC is a quasi-autonomous government-funded body, which currently operates with an annual budget of approximately £1.2m per annum.
The FIDC Ordinance was amended in 2013 and implemented on the 1st July 2015. The 2013 Ordinance defines FIDC’s purpose as follows;
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. In the 2013/2014 financial year alone FIDC provided over £1.1m in business loans to 14 individuals and businesses. In the same financial year FIDC provided £90,000 in business, development and infrastructure grants to 40 recipients. FIDC will continue to support local businesses at all stages of growth, from start-ups to larger and more-established companies.
For more information regarding FIDC's and its Business Plan you can download our approved Business Plan here;
FIDC LOANS POLICY
FIDC's newly formed Loans Policy has now come into effect. The Corporation is empowered to give financial assistance to individuals, commercial enterprises or other organisations that, in line with its objectives, will contribute either directly or indirectly to the economic development of the Falkland Islands.
In its business plan FIDC has identified the objective “To provide business support and mentoring across traditional, emerging and new industries of the economy by providing assistance and incentives, such as grants, loans, business advice and projects.”
A fundamental principle is that FIDC is committed to responsible lending and will only lend amounts which will not burden borrowers with an unacceptable level of debt or repayments.
FIDC's Loans Policy can be downloaded by clicking on the following link;
FIDC has an opportunity for a suitably qualified and experienced person to join our team and work with us and our partners in the growth and diversification of the Falklands economy.
Candidates must be CCAB or CIMA qualified with a minimum of three years post-qualification experience. The role includes management of the day to day operations of the Finance function, preparation of the annual budget and subvention request and production of statutory financial statements. In addition the post holder will provide expert financial advice to the Business Development team to assist with business plan validation, cash flow forecasting and general financial advice to clients. Reporting to the Managing Director, this is an exciting and hands on role while forming an integral part of the organisation’s Senior management Team. Experience of both the public and private sectors would be an advantage.
Applications should be submitted to the Managing Director, FIDC, no later than 16:30 on Tuesday 3rd May 2016
For an informal discussion or further details of the role please contact Rob Granger on 27211.
Approved by Executive Council on the 9th March 2016, FIDC have outlined an approach to increase innovation in the Falkland Islands through collaboration after a period of stakeholder consultation. The aim of the strategy is to create an innovative mentality in the islands by making innovation a national priority in the public and private sectors.
You can find more information regarding the project by clicking on the following link; Innovation Strategy.
If you would like to download the Falkland Islands Innovation Strategy you can by clicking on the following link; Falkland Islands Innovation Strategy (471.02 kB).