Opportunities for CCSs to Access Finance in the EU – Short Analytical Report

The short analytical report focusing on the financial environment for the Cultural and Creative Sectors (CCSs) in EU Member States has been requested to the European Expert Network on Culture (EENC) by the Directorate General for Education and Culture of the European Commission (DG EAC). The request also involved providing a mapping of funding mechanisms and of regulatory incentives for the CCSs across the EU as well as identifying examples of innovative and most effective practices.

This report is set against the following framework. First, the European Commission, under the framework of ‘Creative Europe’, its new framework program for 2014-2020, wishes to contribute in concrete ways to the promotion of competitiveness of the CCSs in Europe. Second, there is an increasing engagement of the European Commission in the promotion of Small- and Medium-Sized Enterprises (SMEs), also as regards the CCSs. Finally, there is a growing interest of both EU Member States and regional and local authorities in identifying solutions to the “access to finance” issue which is known as one of the biggest challenges for micro and small entrepreneurs in the CCSs throughout Europe.

In the last years several research reports have been published on the issue of accessing finance by the CCSs. Still, a study which attempts summarizing and updating relevant information on existing financing schemes for the CCSs in EU Member States was lacking. The present study also presents hands-on information for professionals in the sector on such funding instruments and examples of innovative practices, including financial schemes or relevant public regulatory incentives. It also includes a set of practices that can be considered as efficient and which are widely used to support the CCSs, including subsidies which have a long-term sustainability effect.

The report was carried out by Cornelia Dümcke, Zora Jaurová and Péter Inkei on behalf of the EENC.