European survey on access to finance in cultural and creative sectors
Cultural and creative sectors (CCS) are seen as an engine for growth in Europe. However, several studies point out that problems of access to finance limit the growth opportunities of the sector. Especially the large group of micro enterprises and SMEs have difficulties accessing bank loans. The European Commission plans to establish a new European guarantee facility to tackle the problem of access to finance.
The aim of this project was to collect as recent and accurate information as possible about the sector structure and performance, as well as about the needs and barriers to access finance for cultural and creative organizations. The research covers 32 European countries. As part of the study a major online survey to CCS organizations has been organized. The results of the study served to refine the characteristics and conditions of the CCS guarantee facility, that was launched in 2016 as part of the new “Creative Europe” programme.
The full study can be consulted on the website of the European Commission: http://ec.europa.eu/assets/eac/culture/library/studies/access-finance_en.pdf