United Kingdom Assessment on Financing Resources: Express Your Opinions
In an effort to improve the financial landscape for creators and smaller businesses within the UK's burgeoning creative industries, a new initiative called the Creative UK Access to Finance Survey has been launched. Led by Professor Hasan Bakhshi MBE and Dr. Josh Siepel, Associate Professor at the University of Sussex Business School, this survey aims to shed light on the investment barriers that creative businesses often face.
The survey, currently live and running until 13th September 2024, can be found at https://www.wearecreative.uk/access-to-finance-survey-2024/. It collects sector-specific data on behavioural and structural barriers to investment in creative businesses, including micro, small, and medium-sized enterprises within the DCMS (Department for Culture, Media and Sport) sectors, which account for around 9.3% of the UK economy.
One of the key objectives of the survey is to enhance access to finance for creative entrepreneurs and creators. By understanding the challenges these businesses face, the survey's insights can be used to design better programs and communication strategies that improve the visibility, accessibility, and suitability of financial support.
The research aligns with broader government initiatives, such as the £500 million investment to support underrepresented entrepreneurs, with a particular focus on addressing gender and diversity gaps in venture capital and funding ecosystems. This survey supports efforts to reduce inequality in access to finance and economic opportunities in the creative sector.
The findings from the survey, set to be published later this year, will shape the understanding of how creative businesses use finance. They will also provide insights into the differences in access to finance across the UK's nations and regions. Furthermore, the survey results will offer valuable insights into how creative businesses can be better served to access finance, including different types and methods.
The economic analysis on the survey results will be conducted by Creative PEC, with contributions from both Professor Hasan Bakhshi MBE, the Director of Creative PEC, and Dr. Josh Siepel. Creative PEC researchers have also contributed to the design of the questionnaire, ensuring its relevance and effectiveness.
Access to finance is often identified as a barrier to growth for creative industries, but there is a lack of evidence in this area, which slows down policy responses. The Creative UK Access to Finance Survey aims to help address this problem by providing more evidence about creative industries' access to finance, which can inform effective policy and support interventions.
In conclusion, the Creative UK Access to Finance Survey is significant because it provides sector-specific evidence that helps shape fairer and more effective access to finance policies and programs for the creative industries. This, in turn, supports their economic growth, inclusivity, and sustainability. If you are a part of the creative sector, your participation in this survey can help make a difference. Take the survey today at https://www.wearecreative.uk/access-to-finance-survey-2024/.
- The Creative UK Access to Finance Survey, led by Professor Hasan Bakhshi MBE and Dr. Josh Siepel, aims to gather data on investment barriers faced by creative businesses across various sectors, including those within the DCMS, to improve access to finance for creators and smaller businesses in the UK's creative industries.
- The insights gained from this survey will help design better programs and communication strategies that enhance the visibility, accessibility, and suitability of financial support for creative entrepreneurs and creators aligned with broader government initiatives like the £500 million investment to support underrepresented entrepreneurs.
- The economic analysis on the survey results will offer valuable insights into how creative businesses can be better served to access finance, including different types and methods, while addressing the lack of evidence in this area that slows down policy responses.
- The survey findings, set to be published later this year, will provide a comprehensive analysis of how creative businesses utilize finance, showcasing differences in access to finance across the UK's nations and regions, which can inform effective policy and support interventions.
- By participating in the Creative UK Access to Finance Survey, members of the creative sector can contribute to shaping fairer and more effective access to finance policies and programs that support the growth, inclusivity, and sustainability of their industries.
