Funding Opportunities in Derry City and Strabane: Grants & Loans for Startups & Small Businesses

Derry City and Strabane District Council actively support the growth and development of businesses in the region, providing various grants and government-backed loans to help startups and small businesses succeed.

Grant and Loan Programs:

Grants:

Go For It Programme: Provides expert mentoring and support for individuals exploring a business idea or in the early stages of starting a business.
- Go For It Programme
Start Up Grant Programme: Offers up to £500 to cover the costs involved in starting a business. It is open to businesses that are based in the UK, less than 12 months old, and not in receipt of other government funding. The deadline for applications is March 11, 2023.
- Start Up Grant Programme
Go Further Grant Programme: Provides up to £5,000 for growing businesses that have been trading for under 3 years.

Government-Backed Loans:

Start-Up Loans: Provides government-backed personal loans and mentoring for new businesses.
- Start Up Loans

Key Resources:

Go For It Programme: Offers free expert advice and support to aspiring entrepreneurs in Northern Ireland.
- Go For It Programme
Derry City & Strabane District Council - Business Support: The council's website offers details on local business support programs, including funding opportunities.
- Derry City & Strabane District Council - Business Support
Invest Northern Ireland: The regional economic development agency provides information on various funding programs and business support initiatives.
- Invest Northern Ireland

Derry City and Strabane District Council Contact Details:

Phone: 028 7125 3253
Website: Derry City and Strabane District Council

Advice on Applying:

Consult with Go For It or the Council: Reach out to the Go For It programme or the Derry City and Strabane District Council's business support team for personalized guidance on suitable funding options and application procedures.
Eligibility is Crucial: Review the specific criteria for each program carefully to confirm your business meets all requirements before applying.
Prepare a Thorough Application: Include a well-structured business plan, detailed financial projections, and a clear explanation of how the funding will support your business growth and benefit the local economy.
Meet Deadlines: Be mindful of application deadlines and submit your applications promptly.

Frequently Asked Questions (FAQ):

What is the Go For It Programme?
- The Go For It Programme offers free expert advice and support to individuals in Northern Ireland who are considering starting a business, helping them turn their business ideas into reality.
Who is eligible for the Start Up Grant Programme?
- The Start Up Grant Programme is open to businesses based in the UK, less than 12 months old, and not in receipt of other government funding. It offers up to £500 to cover startup costs.
What is the Go Further Grant Programme?
- The Go Further Grant Programme provides up to £5,000 for businesses that have been trading for under 3 years and are looking to grow.
What can Start Up Loans be used for?
- Start-Up Loans can be used for various business purposes, including working capital, purchasing equipment, or marketing, along with mentoring support.
How do I apply for grants through Derry City & Strabane District Council?
- You can apply for grants through the council’s business support webpage, where you can find detailed information on the available grants and their eligibility criteria.
Are there specific deadlines for these funding programs?
- Yes, most funding programs have specific deadlines. It is essential to stay informed about these deadlines and ensure timely submission.
Can I apply for multiple grants or loans at the same time?
- It depends on the terms and conditions of each grant or loan program. Consulting with the council’s business support team or Go For It can provide clarity on this.
What documentation do I need to apply for these funding programs?
- Typically, you will need a detailed business plan, financial projections, and any specific documents requested by the funding program.
Is there support available for both new and existing businesses?
- Yes, there are grants and loans available for both new startups and existing businesses looking to expand.
How can I ensure my application is successful?
- To increase your chances of success, ensure your application is comprehensive, aligns with the grant or loan’s objectives, and is submitted before the deadline.

By leveraging these funding opportunities and resources, entrepreneurs and small business owners in Derry City and Strabane can gain the financial support and expert guidance they need to thrive.

Value AD

CAN BE

ALTERNATIVE

INVESTMENT

What is Value Ad?

Value Ad is an innovative policy designed to foster a mutually beneficial relationship between two key groups: new businesses and service providers. This policy helps startups save significantly on essential services while enabling service providers to gain valuable traction and growth opportunities.

How is it a Win-Win Deal?

For New Businesses:

Cost Savings: Startups can save 50% to 80% on essential services such as website development and marketing. This means they don’t need to invest heavily upfront, making it easier to launch and grow their business.

Alternative Investment: The money saved through these discounts can be reinvested into other critical areas of the business, acting as an alternative investment that fuels further growth and development.

For Service Providers:

Initial Customer Base: Service providers, often tech startups themselves, can attract a significant number of initial customers by offering their services at a discounted rate. This helps them build traction and demonstrate value, which is crucial for attracting venture capital (VC) funding and other opportunities.

Marketing Efficiency: By providing affordable services, service providers do not need to spend heavily on marketing to acquire new customers. The discounted services themselves become a powerful marketing tool, bringing in customers who can spread the word and enhance the provider’s reputation.

Growth and Expansion: Attracting more customers through Value Ad helps service providers expand their client base and build long-term relationships, which can lead to increased revenue and business growth.

Alternative Investment for New Businesses:

For new businesses, the significant cost savings achieved through the Value Ad policy effectively serve as an alternative investment. Instead of spending large amounts on website development and marketing, they can leverage the affordable services provided by service providers. The saved funds can be redirected into other strategic areas of the business, enhancing overall growth and sustainability.

Benefits for Service Providers:

Service providers benefit from the Value Ad policy by gaining access to a ready pool of new customers who are drawn by the discounted rates. This initial customer base is crucial for:

Building Traction: Demonstrating product or service viability to potential investors.

Securing Funding: Enhanced customer traction and a growing user base can make the service provider more attractive to venture capitalists and other funding sources.

Market Penetration: Establishing a presence in the market quickly and efficiently without heavy marketing expenditures.

In Summary:

Value Ad is a strategic policy designed to create a win-win scenario for both new businesses and service providers. By offering significant discounts on essential services, startups can save and reinvest those savings, while service providers gain crucial initial customers and market traction. This mutually beneficial arrangement supports the growth and success of both groups, making Value Ad a powerful tool for business development and investment.

Value AD

CAN BE

ALTERNATIVE INVESTMENT