Derry Chamber led discussions with Finance Minister Dr. Caoimhe Archibald during her visit to the North West on Wednesday, August 7th. The focus of their engagement was on how Derry and the broader North West region can leverage the newly relaunched Back to Business rates support scheme to revitalise the area’s town centres and high streets.

The Department of Finance’s rate support scheme offers businesses a 50% rates discount for up to two years if they move into vacant premises that were previously used for retail purposes that have been unoccupied for 12 months or more. This incentive for businesses to set up shop provides a brilliant opportunity to unleash the potential of our entrepreneurs and tap into the entrepreneurial spirit of Derry.

Derry Chamber officers warmly welcomed both the initiative and Finance Minister Dr. Caoimhe Archibald at the City Hotel. Minister Archibald first met with Chamber officers before participating in a constructive question-and-answer session with Chamber members.

Chamber CEO Anna Doherty, Chamber Vice President Andrew Fleming, Minister of Finance Dr. Caoimhe Archibald, Chamber President Greg McCann and Former Chamber President Dawn McLaughlin.

Chamber members were able to raise an array of pressing concerns that were addressed by the Minister, including questions around rates, corporation tax, and perceived barriers to development such as planning.

Welcoming the positive engagement from Minister Archibald on both the Back to Business Scheme and productive forum held with Chamber members, Chief Executive of Derry Chamber, Anna Doherty said:

“Derry Chamber was happy to host the Minister of Finance Dr Caoimhe Archibald during her visit to Derry today. The visit of the Minister is yet another example of the positive engagement with the North West from the Executive since its resumption at the beginning of this year, which has been cause for great optimism among North West businesses.

“Derry Chamber are fully supportive of the Minister’s Back to Business initiative and believe that similar initiatives that can decrease the cost of doing business are essential to unlocking the economic potential of the region and achieving the regional balance to which the Executive has committed.

“As evidence of her intention to engage extensively with businesses in the North West, the Minister met with Derry Chamber members today and answered robust questions on what more can be done to ease the cost of doing business, and perceived barriers towards business development such as planning. We thank the Minister for her time and engagement and look forward to hosting her on her return to Derry.”