Committee for Economic Development launches Guernsey Enterprise Investment Scheme
The Committee for Economic Development is pleased to announce the new Guernsey Enterprise Investment Scheme (GEIS). The scheme aims to encourage angel investment into high-growth, early-stage businesses in Guernsey by providing an investment-linked payment to individuals investing in eligible start-ups and developing businesses.
Qualifying companies will be able to use GEIS to attract local investment by promoting the benefits of the scheme. For investors, GEIS enables them to apply for a payment of up to 30% of their investment value.
The launch of GEIS follows a 2023 consultation concerning the scheme and takes inspiration from the successful Enterprise and Seed Enterprise Investment Schemes (EIS and SEIS) provided in the UK. Through the provision of investor incentives, GEIS aims to encourage an estimated £2.2m of investment into Guernsey businesses during the trial.
The initial round of applications for GEIS will open on the 1st of October 2024. Businesses and investors are encouraged to visit gov.gg/geis in advance to learn more about the scheme and how to apply.
Deputy Sasha Kazantseva-Miller, Economic Development's Lead for Digital, Skills and Enterprise said,
"I am very pleased to announce the launch of the Guernsey Enterprise Investment Scheme on a trial basis. This is a completely new idea developed by the Committee for Economic Development this political term with the objective of helping stimulate private investment into startups and early-stage businesses. Access to funding is key for businesses and well-established schemes operate elsewhere, making it easier to attract private capital. We are launching the scheme on a trial basis to be able to learn, adapt quickly and react to feedback from industry. The first round of applications for the GEIS will open soon and in the meantime, we hope this gives businesses and investors a heads-up which can help in their fundraising and decision-making process on investment."
GEIS is a workstream identified within and funded through the Government Work Plan. It will initially operate as a limited trial with the aim of a wider application of GEIS if it is determined to be successful.
