The FIDC Energy Survey 2021 is now available online
FIDC is launching a new Energy Survey to assess the energy needs of those across the Falkland Islands. This is to analyse the types of energy used by people as well as update our energy schemes to provide the best service possible.
It takes less than 10 minutes to complete and is running from the 26th of February to the 19th of March, so if you are eligible please fill it out at the link below:
ERASMUS YOUNG ENTREPRENEURS PROGRAMME
The Erasmus Young Entrepreneurs Programme gives new or aspiring entrepreneurs the chance to learn from experienced entrepreneurs, running small businesses in other participating countries.
An exchange of experience – partially funded by the European Commission – takes place during a stay of 1-6 months with the experienced entrepreneur who helps the new entrepreneur acquire the skills needed to run a small firm.
For a host entrepreneur, the programme offers a fresh perspective on his/her business and the opportunity to cooperate with partners in other countries or learn about – or gain access – to new markets.
Who can apply?
Any New Entrepreneurs who have firm plans to set up their own business, or those that have started one in the last three years. Please note that this three-year rule is applied very strictly and checks are done by ERASMUS staff on LinkedIn and Google to ensure that New Entrepreneurs do not have more than 3 years within their own business.
Experienced entrepreneurs who own or manage a small or medium-sized enterprise in one of the participating countries can apply to be hosts also.
This will mean that any New Entrepreneurs, can travel to learn from a Host Entrepreneur who has permanent residence in one of 28 European Member States, Liechtenstein, Norway, the Former Yugoslav Republic of Macedonia, Iceland, Montenegro, Turkey, Albania, Serbia or Israel.
Travel expenses – to and from the country hosting the New Entrepreneurs.
A subsistence grant will be offered which in the case of the OCTs will amount to €1100 per month maximum. Given this limited maximum, applicants must be prepared to make a financial contribution to their stay.
How to apply?
It is simple, there are two documents available from FIDC for New Entrepreneurs to read through:
Then to go to the Erasmus Entrepreneurs Website at: www.erasmus-entrepreneurs.eu. All applications are processed online, but if you have any question please contact one of our Development Team who can help you through the application process.
The Business Climate Survey was first launched in 2003 and is conducted every two years. The importance of the Business Climate Survey cannot be understated. It provides a platform for businesses to provide key feedback to us regarding the health, confidence, intentions and issues of local businesses, with the latter being especially significant. The results of this survey shape our Business Plan in the short and medium-term, making the corporation more relevant and effective in encouraging the development of the Falklands economy.
The 2020 edition of the Business Climate Survey was distributed to a total of 254 businesses across the Falkland Islands, including Stanley, Camp and MPC, and all industries on Monday 2nd April 2020. The closing date of the survey was Monday 30th April 2020, providing a total of four weeks for businesses to complete the survey. A total of 107 businesses submitted a completed survey providing a return rate of 42%.
FIDC was partnered by two local business associations to produce the 2020 survey; the Rural Business Association (RBA) and the Falkland Islands Chamber of Commerce. This partnership involved the review of the question list and assistance in the distribution and promotion of the survey. The Chamber of Commerce and RBA were both able provide conclusions, which can be read on pages 40-42.
On the 11th July 2020, FIDC and the Chamber of Commerce held a business breakfast briefing to present the key results of the Business Climate Survey. You can download the survey report using the link below:
The aim for the next edition of the survey is to increase the response rate to ensure the results increasingly represent the Falkland Islands business community by working on distribution and promotion of the survey. With consultation with our survey partners, we will endeavour to ensure that the questions are focussed and attempt to reduce the time it takes for respondents to complete the survey. Due to changing circumstances with regard to Covid-19 and Brexit, FIDC is launching another Business Climate Survey in April 2021 rather than wait until 2022.
For any questions regarding the Business Climate Survey, please contact Louise Ellis at:
For more information on enterprise, getting involved in business and starting your own, check out the follow websites:
Enterprise Support - www.enterprisesupport.org.uk
Enterprise First - www.enterprisefirst.co.uk
British Government Business Support - https://www.gov.uk/business
The Prince's Trust - www.princes-trust.org.uk
Young Enterprise - www.young-enterprise.org.uk
These websites include all the details you need as a young entrepreneur. They include information on how to go about starting your own business, writing a business plan, planning your financials or expanding your existing business. The websites also include stories from young entrepreneurs and advice for people looking to go into business.
Please find below two templates which can be used to form your business ideas. The templates allow you to structure a strong business plan and project one year's worth of financial information. Using these templates you can assess whether your business ideas are robust and practical. Download the business plan templates, and get in touch to find out how we can not only support you in preparing a high-quality plan, but will take you step by step through the whole business start-up process, so you are confident you’ve addressed everything you need, before you start officially trading.
A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts. It has many functions, from securing external funding to measuring success within your business. It is essential to have a realistic, working business plan when you’re starting up a business.
Please note these templates are originally for UK businesses, so some information may not be relevant to the Falkland Islands (i.e. National Insurance tax). If you have trouble downloading these files, please contact us for help.
Whether you are looking to set-up a new business or are simply looking embark upon a training course, there are plenty of opportunities to be found locally.
FIG also offers the Community Development Scheme (CDS), which aims to encourage training and development in the local community.There is currently a budget of £200,000 per annum allocated to this scheme (with significant under spend from the previous financial years), so applications are encouraged from as many people interested in undertaking some form of personal development or training.
Other useful sites for training and business opportunities:
Falkland Islands Chamber of Commerce - www.falklandislandschamberofcommerce.com
Invenio Falkland Islands - www.inveniofi.co.fk
The Youth Entrepreneurship Scheme (YES) is an FIDC project that aims to develop the business capacity of the Falkland Islands population by aiding and promoting sustainable business development within the local community, including the creation of new businesses and assisting the expansion of existing businesses.
YES aims to educate young people, and the public more generally, about business, economics and free enterprise.
The current targets for the project are to:
The different aspects of the scheme have been formulated through consulting a number of the key stakeholders involved in the project. These include, but are not limited to, establish a
Since the project was approved by the Falkland Islands Development Board (FIDB), the scheme has already developed several of these elements.
The first youth register was released to local businesses in October 2014 and contains the names of students currently studying overseas. The purpose of this is to give local companies the chance to view the kind of skills being gained by students with the aim being that more will find jobs that relate to courses they have studied. A mailing list has also been developed from information on the register that will inform students of the various other parts of the scheme including information regarding work experience opportunities and job openings that are likely to further help to assimilate them back into the local working environment. Feedback on the initial register has led for plans for it to be expanded ( in collaboration with the training centre and education department) in order to include all students leaving school as well, as those completing apprenticeships, in order to help as many young people as possible.
FIDC is pleased to announce that the first issue of their Enterprise Quarterly newsletter has been released. The aim of the publication is to promote and publicise the current services available to current and future entrepreneurs. Services, such as assistance in drafting a business plan or dealing with the financial aspects of starting/running a business, which are already in place through our Development Officers, are included as will the many sources of assistance and funding already available in the Falklands.
The purpose of the publication is to ensure that current and future entrepreneurs are made fully aware of the services and resources available. The publication includes articles on entrepreneurship, training opportunities, advertisements of the current services available to new/existing businesses and the services offered by FIDC.. Regardless of who is offering the services, be it ourselves, the public or the private sector, it is advertised through the publication.
Download the fist issues of Enterprise Quarterly here:
Training Grant Scheme
In December 2014 the Training grant scheme was taken to, and approved by, the Falkland Island Development Board. The purpose of the grant is to assist young business owners in gaining qualifications that will in some way help their business. For example, this could include (but is not limited to) bookkeeping , management or health and safety qualifications. The grant is available for both existing businesses and those hoping to establish them. Applicants must be aged between 18-30 with 50% of course costs up to £1,000 available. What amounts to a relevant qualification is not predetermined and a therefore it is up to the applicant to provide evidence as to how the course will help their business.
Download an Application form here document Training Grant Application Form (407.98 kB)
The next stage of the project is to establish a group of business mentors, who will offer guidance and advice to young entrepreneurs. The mentors can share their experiences and help to inspire mentees by offering assistance in developing business ideas. Through the provision of feedback and advice mentors can help promote enterprise in the Falklands, and help future business development.
The group of mentors will be made up of entrepreneurs who have previously established their own businesses and are experienced in local enterprise. Ideally, the group will consist of individuals from various sectors/industries of the Falkland’s business community. These individuals will be available to meet would-be entrepreneurs for an individual and/or group consultation.To assist in the successful implementation and operation of the scheme consultation and collaboration with the Chamber of Commerce, the Rural Business Association and FIG, specifically the Education Department and the Training Centre, will be crucial.
Work Experience Programme
As well as this there, are also plans to unveil a work experience programme aimed at 16-25 year olds interested in starting their own businesses. The aim will be to give those taking part the opportunity to witness what is involved in running your owqn business on a day to day basis.
FIDC currently offers a number of services that can be utilised by existing and future entrepreneurs and business owners. These include;
Working towards a highly successful, diverse and sustainable economy for the Falkland Islands