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Falkland Islands Development Corporation

BACKGROUND

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;

  1. To advise on and implement the economic strategies of the Falkland Islands Government;
  2. To take what further steps are required to ensure the successful development of businesses and a positive business environment in the Falkland Islands.

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;

icon FIDC Business Plan 2015-2020 (297.05 kB)

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;

icon FIDC Loans Policy 2015 (148.28 kB)

Latest News

Marketing on a Shoestring Workshop

9th June 2016 - 9.00 am to 12.00 noon at the SURE video conference room

This 3 hour workshop will be run by specialist business advisors from The Robert Partnership the main training provider for the Scottish Business Gateway network which supports and advises hundreds of start-up as well as established businesses each year throughout Scotland. It will be delivered by video-conference and facilitated by FIDC.

The price to take part in the workshop will be £65 per participant, with a maximum capacity of 10 participants.

For more information visit: Latest News

 

FIDC Job Vacancy - Financial Controller

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.

For more information on this vacancy, please click here; Jobs.