Creative Industries business growth and access to finance discovery report
Research by TPXImpact exploring how growing creative businesses navigate their investment options, with the aim of creating a clearer pathway through the business growth journey.
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Creative businesses face a complex, fragmented finance landscape with inconsistent, lengthy processes and a lack of clear criteria for accessing finance. The industry-led ‘Single Front Door’ initiative in the Creative Industries Sector Plan aims to support creative businesses to access investment across this challenging landscape. The Single Front Door (SFD) must be designed to act as a holistic umbrella and navigator.
DCMS commissioned TPXImpact to deliver an 11-week qualitative study mapping how creative founders navigate investment options through their business growth journey. The report makes recommendations on how creative founders can better discover, understand and access finance options, which will inform the design of the SFD.
These reports provide recommendations on industry’s work to develop the ‘Single Front Door’ to help creative businesses navigate their investment options with confidence. The government is also improving its finance signposting for SMEs through the Business Growth Service and the British Business Bank’s Finance Hub. A key recommendation of these reports is for the government to provide a coherent pathway for businesses through its scale-up support. It is working with funding agencies, Mayoral Strategic Authorities and public finance institutions on a joined-up process.