United Kingdom Financial Access Opinion Poll: Express Your Perspectives
UK Survey Reveals Financial Challenges Faced by Creative Industries
A significant survey, led by Professor Hasan Bakhshi MBE and Dr Josh Siepel of the Creative PEC, is currently underway to understand the financial struggles faced by UK-based creative businesses. The survey, titled the Creative UK Access to Finance Survey, aims to gather crucial data and insights to inform policy and support initiatives that can foster financial inclusion and business development within the creative industries.
The creative industries contribute a substantial portion to the UK's economy, accounting for nearly 6% of GDP (around £125 billion annually). However, a substantial number of creative businesses report difficulties in obtaining finance, with as many as 48% experiencing significant finance access problems. This survey is essential in identifying and understanding these barriers to growth.
The survey is open to all creative businesses and organisations across the UK, and it seeks to understand the types of finance different companies use, the ways in which they utilise finance, and the obstacles they face in accessing the finance they need to grow. The findings will help policymakers design better financial instruments, reduce behavioural barriers to investment, and improve the visibility and accessibility of support programs tailored for the creative sector's needs.
The Creative PEC, in collaboration with Creative UK and BDRC, has designed the online, anonymous questionnaire, which only takes a few minutes to complete. The survey closes on 13 September, and you can find the link to participate here.
The survey results will strengthen the evidence base for the creative industries, providing vital data that has been lacking in this area. The Creative PEC's economic analysis of the survey results will shape our understanding of how creative businesses use finance and help in finding ways to better serve those with finance needs.
Dr Josh Siepel, an Associate Professor in the Science Policy Research Unit at the University of Sussex Business School, is also involved in the survey. This survey marks the first major effort to capture new data on creative industries firms' ability to access finance in seven years.
The survey results, analysed by the Creative PEC, will be published later this year. This valuable information will undoubtedly contribute to academic and policy discussions about fostering innovation, supporting business sustainability, and addressing regional disparities in creative sector growth across the UK.
- The Creative UK Access to Finance Survey, led by Professor Hasan Bakhshi MBE and Dr Josh Siepel, aims to gather data and insights to inform policy and support the financial inclusion of creative industries.
- The survey seeks to understand the types of finance creative businesses use, how they utilize it, and the obstacles they face in accessing the finance necessary for growth.
- The survey results will strengthen the evidence base for the creative industries, providing vital data that has been lacking in this area, and will contribute to academic and policy discussions about fostering innovation.
- The findings from the survey will help policymakers design better financial instruments, reduce behavioral barriers to investment, and improve the visibility and accessibility of support programs tailored for the creative sector's needs.
- The survey, which closes on 13 September, is open to all creative businesses and organizations across the UK and can be found by following the link here.
