In the Industrial Strategy White Paper, the government committed to making the most of the UK’s strengths so that we can be at the forefront of emerging technologies and industries in future.
The creative industries - including film, TV, music, fashion and design, arts, architecture, publishing, advertising, video games and crafts - are of great important to our economy and has a critical role in future as the UK exits the European Union.
In recognition of the sector’s importance and potential the Government identified creative industries as a priority for an early sector deal – a package of initiatives to unlock growth.
A copy of the sector deal can be found here.
Access to Finance is vital for this fast growing industrial sector and the ability to access both equity and debt finance is one of the critical roads to growth for creative businesses. This online ‘Better Business Finance’ tool is designed to help creative businesses find out who they can and should approach for funding.
The British Business Bank is a UK government owned business development bank increasing the supply of finance available to growing smaller and medium sized businesses.
The British Business Bank Information Hub has been built to help businesses understand and discover the various finance options available to businesses.
The Hub can be accessed here.
The Institute of Chartered Accountants England and Wales (ICAEW) have produced a free guide for Creative Industries seeking finance covering practical approaches to financial preparation, professional advice, public investment, philanthropic support and private capital.
Finance options for the creative sector
A selection of links to information on finance sources Creative Industries listed below:
Angel investing involves wealthy individuals offering finance directly to businesses in return for a share of equity. They normally provide advice and expertise in addition to funds. Business Angels in the UK that can help businesses in the creative sector are listed on the:
The Business Growth Fund helps Britain’s growing, smaller and medium sized businesses. Growth potential is the key criterion. BGF will invest between £2m and £10m per business in return for a minority equity stake.
- BFI FILM FUND
- British Fashion Council
- Creative England
- Crescent Capital III Limited Partnership
- techstart NI
- Creative Industry Finance
- Creative Finance Network
- Innovation Loans
Responsible Finance providers offer loans and support to people who find it difficult to access finance from mainstream sources.
Responsible Finance providers that specialise in the creative sector are:
- Coop & Community Finance
- East London Small Business Centre
- Key Fund
- Social Investment Scotland
- Ulster Community Investment Trust
Information on managing your Intellectual Property can be found below