image for Creative England boosts creative sector with 1m of interest free loans

Creative England boosts creative sector with 1m of interest free loans

Published on Wednesday, 31st July 2013
Creative England continues its programme of investment for creative and digital businesses in the English regions with the launch of a new Business Investment Fund of £1 million.

Creative England continues its programme of investment for creative and digital businesses in the English regions with the launch of a new Business Investment Fund of £1million.

Supported by the Government’s Regional Growth Fund, the £1million is available in the form of interest free loans of between £60,000 and £100,000. It is open to SMEs who are looking to develop new software, applications and content for the following expanding markets:

  • Cross Platform TV development
  • Healthcare
  • Feature film production
  • Government Services
  • Games and Interactive Entertainment
  • Business To Business
  • Feature film production
  • E-Learning
  • Mobile applications

Business Minister Michael Fallon said: "Creative England’s new investment fund from the Regional Growth Fund is fantastic news for the creative industry. The funding will be vital for giving those SMEs in the sector better access to finance and maintaining the UK’s reputation for innovation and creative ideas.”

"The Regional Growth Fund is helping to kickstart British business and is the Government's commitment to encourage long-term employment, boost private sector growth and lead to a more balanced economy.”

Creative England’s Director of Business Development, Jim Farmery, said:

"Creative businesses bring energy, enterprise & innovation to cities and regions across England. Our funds support companies with innovative ideas for content development that have commercial potential but are struggling to get off the ground.

“Our first Business Investment Fund is already helping to develop pioneering projects as well as create and safeguard jobs in the regions from Newcastle to Newquay. This is another great opportunity for SMEs to benefit from investment as well as our business support service and we look forward to hearing from them.”

Creative England’s first business investment fund is helping SMEs in a variety of sectors all across the UK. In Birmingham, this ranges from Portal Entertainment creating thrillers for the digital age to Soshi developing a Facebook based virtual music festival game. The Floow, in Sheffield, are creating a smart phone application to capture and analyse location information and driver performance data for third party organisations for use by third parties, primarily insurance companies and car manufacturers.

Creative England’s Business Investment Fund 2 is open to SMEs based in the North, West Midlands and far South West (Cornwall, Devon, Dorset, Somerset, Bristol and Bath).  It can offer companies very preferable terms - interest free loans and deferred repayments as well as working with successful applicants to ensure the business gets everything it needs in terms of advice and support to make the project work.

Application is a simple two stage process: applicants are required to complete a simple on-line expression of Interest at http://www.creativeengland.co.uk/index.php/portfolio/funding/

Once eligibility has been confirmed, you will be invited to submit a full application outlining your proposal and business case.  The deadline for registrations of interest is: 21st August 2013. Email questions or requests for further info to: business@creativeengland.co.uk

Recognising the importance of the creative industries outside London as key drivers of economic growth and innovation in core cities and regions across England, Creative England aims to ensure a dynamic, thriving and economically successful future for the sector.