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HomeEx-ante evaluation of new financial instruments for SMEs, mid-caps and organisations from the cultural and creative sectors
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Metadados da publicação
The Cultural and Creative Sectors (CCS) span a wide range of activities, including audiovisual and broadcasting, print, music, visual and performing arts, heritage, design and architecture. CCS collectively accounts for 4.5% of EU’s GDP, is growing across Europe at above average rates, and is a significant source and user of innovation. New starts, SMEs, mid-caps and notfor- profit organisations play key roles in creating and maintaining cultural identities and diversity. However, the sector faces specific challenges in funding new activities and enabling growth; these constraints are linked to market failures at local, pan-European and global levels. The issues are being addressed through the EU’s €1.46bn Creative Europe Programme (CEP), set up in 2014. CEP also facilitates access to debt finance for CCS SMEs through the Guarantee Facility that provides credit risk protection as well as capacity building to financial intermediaries. This study found that funding gaps and barriers persisted across Europe, both for loan and equity finance, and recommends that these are addressed through a mix of financial instruments and technical assistance under InvestEU. Alongside continuation/expansion of the CCS Guarantee Facility, these instruments could include co-investment with business angels through a fund structure (below €2m), and coinvestment with venture capitalists (above €2m), complemented by equity crowdfunding.
- Publicado em:
- Autor(es) institucional(ais): Direção-Geral das Redes de Comunicação, Conteúdos e Tecnologias (Comissão Europeia) , SQW
- Temas: Cultura
- Tema: criação artística , financiamento , indústria cultural , inovação , instrumento financeiro , pequenas e médias empresas , pluralismo cultural , política cultural , política da UE , programa da UE , promoção cultural , relações culturais
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| ISSN | ISBN 978-92-79-97467-0 | DOI 10.2759/02092 | Número de catálogo KK-03-18-482-EN-N |
- Released on EU publications website:
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