The Topical Talks panel was engaged in a lively discussion about help and mentoring for start-ups and investors.

Paragon’s Debbie Scrimshaw said it was about resilience and being able to continually push yourself, your people and your business forward.

She said the Isle of Man can provide global networking opportunities together with localised collaborative support, beneficial to business growth.

She said the collaborative support for start-ups such as the Eagle Lab, The Engine House and the Mountain View Innovation Centre were providing high quality supportive environments, great facilities and access to mentors, investors and advisors.

Minister Geoffrey Boot said the SPARK initiative involving the government had not worked well.

[The SPARK company was taken on to help manage aspects of the controversial Enterprise Development Scheme then had its contract cut short.]

Chairman Richard Butt asked if there were schemes out there that could help people tap in for help.

David Butterworth, chief executive Manninvest, said that is something his company is involved in.

He said the Bridge Angel investor network was closing down because the rules had changed slightly.

He said: ‘It is for Bridge to talk about that but I suppose that is another case where things are becoming more difficult.

‘Manninvest provides mentoring advice, training, office space, start up office space and helps in raising funding.

‘There are other organisations in the island that do similar things.

‘It was hugely disappointing that SPARK did not work.

‘This sounds like I’m government bashing, but I’m not.

‘There was a pot of £50m to spend on businesses but it was only ever £10m a year and even then it was incredibly difficult.

‘It’s one of those things that is difficult to get – funding for businesses in the island and outside the normal business network.’

‘We are quite niche in what we do at Manninvest.

‘Bridge was very much at the start, the angel investment type of thing.

ButMr Butterworth said angel investment was very difficult to attract.

‘That’s not just the Isle of Man, it is the same in the UK.

‘America is more suited to this sort of thing and the ‘‘let’s have a punt’’ attitude involved in angel investing.’

Mr Boot said: ‘Offshore entities used to operate on the basis that they did not pay capital gains tax on residential and property investments. This has changed recently .

‘Certain holdings in the UK are subject to inheritance tax even though they are held through offshore entities, part of the new beneficial ownership regime.’

Gillian Christian from Keystone Law said: ‘We had clients that instructed us to help with a SPARK application and that says it all really.’

But Gary Lamb of Manx Telecom suggested there are places where similar schemes do work.

He said Guernsey set up a special fund where they had managed to use all the money allocated to go to businesses that had settled in the Channel island. He said: ‘You can get it to work.’

Mr Boot said Jersey has a successful Locate programme.

‘They go out looking for high net worth individuals.

Dr Bell said it was proving so difficult to get medical staff and professional people here.

She suggested it was ‘survival of the fittest’.

Dr Bell said newly qualified dentists would start around £40,000.

She has also explained how back in 1994 as a newly qualified dentist, she was welcomed back, provided an NHS provider number – and simply allowed to open a dental practice.

This encouraged her to be good and at the top of her ‘game’.

As the patient you had the choice of healthcare professionals but unfortunately this has now all changed, but the health authority is looking at a new dental strategy.

Dr Bell said there was a need for what she calls ‘street rats or long tails’ – people who know their business, infrastructure and what happens within their profession.

‘They are people that know what happens within their industry.

‘You have to be a street rat, wet fingered and able to understand the business, implement and predict change.

‘It got to be a case of that and if you’re going to run an IT company I’m going to to go to him.

‘If I’m going to run a press or a law firm or whatever, I’m going to go to someone with the right experience.

‘That’s what I find extremely frustrating – I’m not a political I just say it how it is.

‘Find the best person for the job and encourage them to lead.’

Steve Locking said there was a theme developing and in his view it all comes down to infrastructure.

The island was making noises about wanting to expand and attract people but ‘underneath it all there is not the infrastructure to do it.’

Tracey Bell explained health to her was the fundamental area where cuts could not be made and that epidemiology, strategy and implementation were the key to any successful health care delivery.

Geoffrey Boot said the trams were part of the cultural heritage of the island.

David Butterworth said he was certain heritage railways would attract more people but suggested would it not be better if more was spent on health and education.