The Manx Government has announced a package of financial support for local seafood businesses to help protect their future during the COVID-19 pandemic.
Action is required to protect the industry infrastructure, such as vessels and processing factories which, due to the immediate and devastating impacts on markets, are under threat, with many local businesses facing an uncertain future.
The seafood sector, including processing, is worth an estimated £20m a year on the Isle of Man and the grant scheme will make more than £370,000 available over a 12 week period, with all existing support schemes continuing as normal.
Based on a proportion of normal trading, grants will be available to eligible seafood businesses which meet the scheme criteria relating to the scale and nature of their business in buying fish and fish products in the last financial year and to the owners of appropriately licensed Manx registered vessels. Under the scheme registered owners of fishing vessels which are 12 metres or longer could receive £500 a week and those under 12 metres, £150 a week, to help pay for basic operational and maintenance costs.