Investing in the creative industries
Author:
NESTA
Year published:
November 2003
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Investing in the creative industries 495KB
ICM creative industries poll 451 kb
Investors' poll 293 kb
Introduction
The Creative Industries are at the forefront of Britain’s modernisation, bringing innovation, hope and economic resurgence to many regions. As one of the fastest growing areas of the UK economy, they contributed £11.5 billion to the Balance of Trade in 2001 and are a major employer of creative graduates who originate new products and services for global markets.
Despite these positive signs, creative entrepreneurs experience barriers to finance, which limit opportunities for their further growth and the expansion of the sector. At the heart of the problem is a lack of investor awareness of Creative Industries business models, limited access to useful market research, and the perception that creative businesses are lifestyle-directed, rather than goal-focused.
This document is a call to action for organisations and individuals who are in a position to help the Creative Industries become a profitable powerhouse, to do their part to effect change.
As an initial contribution to this process, NESTA has commissioned research into the area of investment in the Creative Industries to inform the launch of its Graduate Pioneer Programme in 2003.