CREATIVE INDUSTRY FINANCE

Project information

Index: 1083R4
Acronym:PLUSTEX
Priority:1: Innovation and the knowledge economy
Sub Theme:Entrepreneurship and SMEs
Location UNITED KINGDOM LONDON Inner London Start/End date of the practice
Start: 29 May 2012
End: Ongoing

Topic of the practice

Increase levels of art, design and creativity into market production

Good Practice Information

CIF – the UK government considers the creative industries a growth area, important in rebalancing the
economy. Policy interventions are needed to bridge the economic and cultural policy sectors. CIF was
launched in May 2012 to provide access to finance for SMEs operating within the cultural or creative
industries. Arts Council England assesses applications against these criteria:
relevance of creative content to
the core business activity, quality of the creative content, potential of the business. The funding is expected
to support around 25 businesses with an average loan value of GBP 8,000 per business. Loans for workingor
fixed-capital expenditure or both can be up to GBP 25,000 repayable over one, two or three years at an
APR of 10%.

Evidence of success

Individuals supported in marketing strategies, with launches at Creative Archives at London and Paris Fashion Week.
Increased online presence, reviews and media coverage for individual businesses.
Online shops and sales through franchises boosted individual revenue streams achieving self-sustainability.
Extension to Yorkshire and Humber demonstrates success in take-up.

Contact details to obtain further information on the practice

Mary Alice Stack

CREATIVE INDUSTRY FINANCE

info@creativeindustryfinance.org.uk

www.creativeindustryfinance.org.uk/

Annex completed on: 03-01-2015

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