"The Government must consider further support for advice services like the BIPC network alongside bespoke finance options that help businesses to access finance and growth advice."
In response to research from Creative UK and the Creative Industries Policy & Evidence Centre into the barriers to finance and funding in the creative industries, Cllr Liz Green, Chair of the Local Government Association’s Culture, Tourism and Sport Board, said:
“Councils strongly support this call for bespoke finance support for smaller creative industries which can in turn drive local growth. The Business and Intellectual Property Centre (BICP) Network, run by the British Library and delivered through council library services, has a proven track record in supporting growth and development for small creative businesses and improving their access to finance.
“However, this work has shown that barriers still exist for small and medium sized businesses accessing finance. The Government must consider further support for advice services like the BIPC network alongside bespoke finance options that help businesses to access finance and growth advice.”
Notes for Editors
- Get Ready for Business Growth, an innovative business growth programme aimed at the creative industries and funded by Arts Council England and the British Library, delivers a benefit cost ratio of £16.84 for every £1 of public money spent.
- The LGA’s guide on the role and future skills of economic development teams outlined that a core function includes signposting employers to business support so they can access support at a national, regional and/or local level. This may include supporting local businesses to access finance.
ENDS