United Kingdom Financial Access Opinion Poll: Voice Your Thoughts
The Creative UK Access to Finance Survey is now live, offering a unique opportunity for creative businesses and organizations across the UK to share their experiences with finance. The survey, available at https://www.wearecreative.uk/access-to-finance-survey-2024/ aims to understand how creative businesses use finance, the types of financing they employ, and the barriers they encounter in accessing it.
This survey, designed in collaboration with Creative UK and BDRC, is a significant step towards strengthening the evidence base for the creative industries. Access to finance is a common barrier to growth for creative businesses, and this survey aims to shed light on the challenges faced by these enterprises in securing the necessary funds for growth and expansion.
Your response to the survey will help improve understanding of the challenges faced by creative industries businesses in accessing and using finance. The results of the survey will be crucial in shaping our understanding of how creative businesses use finance and will help in understanding how creative businesses can be better served to access the finance they need.
Participation in the survey is anonymous, and it takes only a few minutes to complete. The survey allows the option to share contact details, but this is optional. The economic analysis on the survey results will be conducted by Creative PEC researchers, led by Professor Hasan Bakhshi MBE, the Director of Creative PEC.
The Creative UK Access to Finance Survey is the first major effort to capture new data on this topic in seven years. This survey aligns with broader government and industry efforts to improve access to finance for diverse and underrepresented entrepreneurs, including those in creative industries. The findings from such surveys inform initiatives targeting investment gaps and behavioral barriers to funding within sectors covered by the Department for Digital, Culture, Media and Sport (DCMS), which includes creative industries that contributed an estimated 9.3% of the UK economy in 2023.
Creative businesses can participate in the survey typically through industry bodies like Creative UK or associated government portals that conduct sector-specific research. Engaging in the survey enables businesses to contribute to evidence-based policymaking and improve the availability and design of financial support tailored to creative sector needs.
In summary, the Creative UK Access to Finance Survey is a tool designed to identify and analyze financial barriers faced by UK creative businesses, guiding policy and funding programs to enhance access to finance. Its significance lies in supporting the growth of a vital economic sector by informing interventions that improve investment flows and inclusivity.
[1] Government efforts to improve access to finance for diverse and underrepresented entrepreneurs. (n.d.). Retrieved from https://www.gov.uk/government/publications/improving-access-to-finance-for-diverse-and-underrepresented-entrepreneurs
[2] Creative Industries Council. (2023). Creative industries economic estimates 2023. Retrieved from https://www.gov.uk/government/publications/creative-industries-council-economic-estimates-2023
Dr Josh Siepel, an Associate Professor in the Science Policy Research Unit at the University of Sussex Business School, has contributed to the design of the questionnaire. The results of the survey will be published later this year. Businesses interested in participating should look out for announcements or invitations from Creative UK or DCMS-linked programs and respond to calls for information or survey participation as they arise.
- The Creative UK Access to Finance Survey, live now, aims to strengthen the evidence base for the creative industries by understanding how creative businesses use finance and the barriers they face in accessing it.
- The survey's results, conducted by Creative PEC researchers and led by Professor Hasan Bakhshi MBE, will be crucial in shaping policies to improve access to finance for creative businesses.
- The survey aligns with government and industry efforts to improve access to finance for diverse and underrepresented entrepreneurs, particularly those in creative industries, which contributed an estimated 9.3% of the UK economy in 2023.
- Businesses can participate in the survey through industry bodies like Creative UK or associated government portals, and their contributions will help in designing financial support tailored to the creative sector's needs.
- Engaging in the survey allows businesses to contribute to evidence-based policymaking, helping to ensure that finance is accessible and appropriate for the growth and expansion of creative businesses.
