Category: Finance and Accounts

Don’t discount prices!

Thanks to Natalie Bolton from Lion Eyes Television for telling me about this amusing video. It’s fun to watch – and it raises some important issues about pricing and customers for creative businesses and cultural enterprises. If customers believe you will discount prices, it’s because they think they can go elsewhere and get the same …

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The Creative Business: 12 Modules

The Creative Business is a series of 12 modules of information about developing creative enterprises, written especially for people running businesses in the creative industries. The information is particularly relevant to creative businesses and cultural enterprises in the fields of Advertising, Literature and Publishing, Visual Arts, Performing Arts, Music, Design, Cultural Heritage, and Crafts. Written …

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Raising Finance from Fans

Raising finance from loans or investments can be a major challenge for all types of businesses, and it’s especially difficult when credit is scarce and investors are feeling the pinch. So any alternative ways of raising funds are worth exploring. Enterprises in the creative, cultural and digital sector have creativity at the centre of their …

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Raising finance the AEV way in the cultural sector

Steve Messam is a talented artist – and a shrewd creative entrepreneur. Steve was approached by Cumbria Tourism in the UK to create an art installation to help publicise the launch of their campaign for cultural tourism. The budget offered was modest, so Steve put together a business case for a bigger budget. He knew …

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‘Crowd Financing’ to fund a film

How do you raise finance for a feature film? (Or any other creative enterprise, for that matter.) It’s an expensive business, but some creative entrepreneurs think imaginatively about raising money, including raising small amounts from lots of people. Like ‘crowd-sourcing’, ‘crowd financing’ allows many people to participate in a small way to have a great …

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Creative Business Guide

A useful and readable ‘Creative, Cultural and Digital Industries Guide’ has been published by Business Link West Midlands It is available in hardcopy from Business Link West Midlands and downloadable as a free eBook in PDF format below. This creative business guide was written by David Parrish, author of the book ‘T-Shirts and Suits: A …

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Winning in Hard Times

How will creative businesses cope in the economic downturn? That’s a question that I have been asked many times recently, both in the UK and overseas. In response, I make the following points: Though the general economic situation is difficult, the recession will not affect all businesses equally. It is not inevitable that all businesses …

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Film funding through eBay…

Financing a feature film can be a complex and expensive business, and most talented film directors never get a chance to make a full-length feature film because of lack of finance. But with her ‘can-do’ attitude, resourcefulness and determination, Fiona Maher has made a film on a micro-budget, raising cash from a variety of sources, …

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The Price of a Bed

Would you pay 50,620 Euros for a bed? (That’s over £40,000 GBP, about $78,000 USD) Probably not. But apparently some people do. Why? What’s going on here? I’m fascinated by pricing strategies and run workshops for creative businesses on the subject. There are different ways to decide on your pricing strategy and I’ll be writing …

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Managing Cash Flow and Fixed Costs

One of the biggest challenges for creative businesses, especially fast-growing enterprises, is the management of cash flow. When businesses fail, it’s frequently because of a cash flow crisis rather than lack of profitability. The gap between cash outflows and cash inflows becomes too big and they run out of cash. An unprofitable business will inevitably …

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