A new £4.4 million funding package is being rolled out across the Derry City and Strabane District area to support local businesses, social enterprises and enterprise partnerships. The money comes from the Department for the Economy’s Regional Balance Fund and is administered through the Derry Strabane Local Economy Partnership, which is hosted by the local council.

The fund is designed to tackle regional economic imbalance, boost productivity, create good jobs and support decarbonisation. Two separate grant streams are now inviting applications.

The Business Transformation Grants programme will offer between £5,000 and £25,000 to micro and small businesses and social enterprises, covering up to 70 per cent of project costs. Its aim is to accelerate growth, raise productivity, sharpen competitiveness and encourage innovation. A second competitive fund, the Enterprise Partnership Fund, provides grants of up to £15,000 for projects that test new models of enterprise support and are delivered in partnership across the local entrepreneurial ecosystem.

Economy Minister Caoimhe Archibald said the investment represented a commitment to inclusive economic growth and strengthening regional prosperity, while creating opportunities for businesses and entrepreneurs. Mayor Grace Uỉ Niallais described the launch as a significant milestone, saying collaborative work across the public, private, education and community sectors was creating meaningful opportunities for innovation.

The Local Economy Partnership includes Derry City and Strabane District Council, Londonderry Chamber of Commerce, Strabane BID, Strabane Enterprise Agency, Enterprise North West, City of Derry Airport, Foyle Port, the Community Wealth Building Partnership, Ulster University, NW Regional College, Catalyst Inc and Visit Derry, with support from Invest NI and the Department for the Economy.

Applications open on Tuesday 9 June and close at noon on Thursday 16 July. Only micro businesses, small businesses and social enterprises based in the Derry City and Strabane District area are eligible. Full details are available at the council’s website.