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New Creative Toolkit added to Better Business Finance
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 will help creative businesses find out who they can and should approach for funding.
The banking industry has worked with Creative England and the Creative Industries Council to prepare the new creative sector toolkit which details the funding options available to creative firms from banks, angel investors and other specialist players.
For your reference, we have included a small amount of information and useful links from the toolkit below;
Finance options for the creative sectors including help managing your IP
Angel investing involves wealthy individuals offering finance directly to businesses in return for a share of equity. They normally provide advice and expertise in addition to funds. Business Angels in the UK that can help businesses in the creative sector are listed on the:
Banks in the UK that can help businesses in the creative sector are:
- Close Brothers
- Clydesdale & Yorkshire
- Lloyds Bank
- RBS Group (including RBS, Natwest and Lombard)
Specialist finance for creative industries
Other finance providers who specialise in the creative sector:
Community Development Finance provide loans and support to people who find it difficult to access finance from mainstream sources. CDFIs that specialise in the creative sector are:
- Coop & Community Finance
- East London Small Business Centre
- Key Fund
- Social Investment Scotland
- Ulster Community Investment Trust
Crowdfunding or Peer to Peer (P2P) lending. It involves individuals lending money directly to unrelated people and businesses without using a bank or financial institution as an intermediary and allows individuals and organisations to lend money directly to unrelated businesses via specialist websites, without involving a bank or other financial institution. Crowdfunders and Peer to Peer lenders that specialise in the creativer sector are listed on the:
Invoice finance can give your business a useful cash injection by releasing money tied up in outstanding invoices, providing an ongoing supply of capital linked to company sales.
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