"It's just the way of the world now": Manx businesses face dilemma amidst rising costs and online competitors

'Multiple factors' seeing businesses close or change hands

Concerns have been raised about the state of business confidence on the Island amidst rising overhead costs.

This week alone some businesses have announced they're taking a step back while others are closing their premises altogether.

Station Garage in Castletown will close for a refit later this month, as the family who've run the forecourt for more than 30 years hand over the reins to new management.

See more HERE.

Owner, Michael Owen, says it's symptomatic of the state of the Island:

When local food wholesaler KC Foods announced its pending closure last month after 55 years, owner Amanda Bowie told Manx Radio rising costs and market conditions have forced the decision. The company will cease trading at the end of this month.

She said: “There's continued increases in business costs, rates, utilities, wages, freight. I could go on for a while. Buyers in the UK are constantly increasing their minimum orders and it's quite hard for an island of this size.

"I think since COVID the whole marketplace has changed, and a lot of companies have looked at efficiencies and obviously on the island there's a lot of businesses are closing or moving and just changing hands quite a lot.”

See more HERE.

Meanwhile, on Wednesday, Vino on Douglas's North Quay also announced it's pending closure amidst what it described as 'ongoing challenges across the trade' - see HERE.

Manx Radio has invited the Department for Enterprise and the Department of Environment, Food and Agriculture to respond to the concerns raised by these businesses.