Finance

Access to Finance

Accessing finance in the creative industries can be a tricky business.

The Creative Finance Network is specifically designed to help creatives understand the complexities of finance and find the money they need to make their ideas a reality.

It provides glossary fact sheets, run downs of the various sources of finance and sign posting to various funding and finance opportunities that are open to specific sectors.

For more information visit, http://creativefinancenetwork.co.uk/

Sources of creative finance funding

This brief guide sets out some of the sources of funding available to creative enterprises as well as useful contacts and information on tax reliefs.

Challenges funding & open calls

UK industry and research bodies can also apply for funding through the Industrial Strategy Challenge Fund and similar initiatives. You can also find information on funding for technology-driven challenges from Innovate UK here and Digital Catapult also runs open calls and events to foster innovation.

Better business guide

The creative industries collectively comprise the UK’s fastest growing industrial sector - generating jobs quicker and with lower capital investment than any other part of the economy. The ability to access both equity and debt finance is one of the critical roads to growth for creative businesses. The online ‘Better Business Finance’ tool can help creative businesses find out who they can and should approach for funding.

Finance options for the creative sectors and information on managing your Intellectual Property can be found here.

Tax and HMRC

HM Revenue & Customs offers products and tools for small and medium-sized businesses that may be relevant to those in the creative industries.

These include:

• E-learning for small businesses - HMRC - Starting in Business
• HMRC Webinars covering subjects such as business expenses, VAT and capital allowances
• A ready reckoner to help people estimate how much tax they have to pay on earnings.