Derry is the fifth best area in Northern Ireland to launch a business

Derry City and Strabane is the fifth-best area in Northern Ireland to launch a business, according to new data.

The Office for National Statistics (ONS) has analysed data between 2022 and 2024, looking at the opening and closure of businesses in local areas across Northern Ireland. 

With a ratio of openings to closures of 0.809, Derry City is on the list in fifth, as 870 businesses opened in this period while 1,075 closed.

Belfast topped the list as the only area in Northern Ireland to have more openings than closures. 

The capital city had 2,395 businesses open while 2,370 closed, giving Belfast a ratio of 1.011.

Second and third on the list is Mid and East Antrim (0.837) and Antrim and Newtownabbey (0.825), respectively.

Mid Ulster entered the list one place above Derry in fourth with 1,150 openings and 1,415 closures, resulting in a ratio of 0.813. 

Ards and North Down (0.792) and Lisburn and Castlereagh (0.785) enter the list in sixth and seventh, respectively.

While the area of Armagh City, Banbridge, and Craigavon had 1,450 openings with a total of 1,875 businesses closing, giving a ratio of 0.773, placing the area eighth on the list. 

And Newry, Mourne, and Down is also in eighth place on the list with a ratio of 0.773, after there were 1,915 closures to only 1,480 openings.

Rounding off the top 10 is Causeway Coast and Glens, with 770 new businesses opening in this period but a closure rate of 1,065, giving a ratio of 0.723 for openings to closures.

Finishing at the at the bottom of the list with a ratio of 0.663, with 945 businesses opening in this period and 1,425 closing, was Fermanagh and Omagh.