3.3b What are the most common sources of finance sought by creative businesses and what are the barriers they face in obtaining finance? How do these vary across the business lifecycle? What are businesses across the lifecycle doing to overcome the barriers?

Background

Supporting creative businesses to grow is a central part of DCMS policy. We know there are a range of challenges as creative enterprises scale up, innovate new products and services, and find new audiences. Creative industries also face highly dynamic and competitive markets, and thus we welcome research on how businesses increase resilience to economic shocks.

Next steps

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Related UKRI funded projects

  • Improving Investment Readiness for SMEs in the Creative Industries

    Creare Capital is a funding-finding platform for creative and digital businesses, where we are dedicated to improving access to finance for the creative industries. Through this project, we will develop a financial readi...

    Funded by: Innovate UK

    Lead research organisation: CREATOR CAPITAL LIMITED

    Why might this be relevant?

    This project specifically focuses on improving access to finance for creative SMEs and developing a financial readiness toolkit tailored to the creative industries.

  • Levelling-up the business reach of UK SME creative agencies through a one-stop new business generation solution

    Kaffeen's mission is to kickstart growth for ambitious design businesses by providing a range of design industry specific, highly actionable, affordable marketing solutions all designed to generate new business opportuni...

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    Why might this be relevant?

    While this project focuses on generating new business opportunities for creative agencies, it does not directly address the sources of finance sought by creative businesses or the barriers they face.

  • Developing a resilience framework and toolkit for UK creative micro-businesses as a route to recovery from the Covid 19 pandemic.

    A 2020 survey of creative and cultural organisations across the South West of England, led by Dr. Tarek Virani and funded by the AHRC's Bristol and Bath Creative R + D Clusters programme, showed that between 18% and 22% ...

    Funded by: COVID

    Lead research organisation: University of the West of England

    Why might this be relevant?

    This project focuses on developing a resilience framework and toolkit for creative micro-businesses, which is related to overcoming barriers and increasing resilience in the creative industries, but does not directly address the sources of finance sought by creative businesses.

  • Supporting creative business: the Cultural Enterprise Office and its clients

    The Cultural Enterprise Office (CEO) was established in 2002. It is supported by Creative Scotland, Aberdeen City Council, Dundee City Council, The City of Edinburgh Council and Glasgow City Council and its services are ...

    Funded by: AHRC

    Lead research organisation: University of Glasgow

  • Creative Industries Policy and Evidence Centre

    In recognition of the growing availability of data in key areas of policy, the PEC will introduce set piece UK-wide 'State of the Nation' reporting in each of four high-level priority thematic areas led by the four organ...

    Funded by: AHRC

    Lead research organisation: Newcastle University

  • Centre of Excellence for Policy and Evidence in the Creative Industries

    The UK's creative industries are a national economic strength. Since the turn of the decade, employment, exports and output growth has easily outstripped that in the rest of the economy. Yet, behind this rapid growth lie...

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  • New Research Processes and Business Models for the Creative Industries

    The UK is world-renowned for its creative industries in areas as diverse as music, animation, and the performing and visual arts. However, the emergence of a new generation of social, pervasive and affective ICT promises...

    Funded by: EPSRC

    Lead research organisation: University of Nottingham

  • The Value of Creative Growth: making growth work for creative enterprise

    This early-career leadership fellowship intends to advance the support and evaluation of the creative economy through exploring and testing more holistic measures of economic growth that are more resonant with the wider ...

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  • The Artery More Business, Creativity and Culture

    Innovate Educate Ltd (IE Ltd) is developing a new way of working. The Artery supports the business, creative and cultural sectors to think differently, work to their strengths, to share, collaborate and sell to each othe...

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  • MVP Plan of Creative Production Micro-Economy

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    Funded by: Innovate UK

    Lead research organisation: CREATIVE RESET LTD