2.2 executive summary With our small and dedicated team, this report shows that throughout the year in review Creative United continued to deliver high quality and impactful programmes that benefit the diverse communities we serve across the UK. The Creative Industry Finance (CIF) programme supported 185 creative enterprises and enabled 22 of these to successfully secure a business development loan from one of our lending partners. As well as the clear economic benefit this has for these specific businesses, social impacts were also measured across all those that received the one-to-one business support – from improved confidence in business skills to job creation. Independent analysis of our data shows that for every £1 invested in business support, over £5 was generated in Social Return on Investment. We were also delighted to have the opportunity to extend the value of our CIF programme beyond the UK by working in partnership with the HEVA Fund in Nairobi (Kenya) on a Creative Enterprise Skills Exchange, funded and supported by the British Council. This provided a unique and enriching professional development opportunity and promoted cross-cultural knowledge sharing and collaboration. Own Art continued its mission to enable more people to purchase contemporary arts and crafts, removing the financial barriers and generating incremental income for galleries, strengthening the overall arts economy. Showing consistency from the previous year, 83% of Own Art customers told us they would not have been able to make their art purchase without the scheme. That equates to around £3.5m of sales that wouldn’t have happened without us. Furthermore, we have increased the new and younger (35 and under) customer base using Own Art from 26% to 30%.
The introduction of two new products to the Own Art family (Own Art Plus and Own Art Twenty) has begun to provide more sustainable income into our business, and further stimulate the market for high quality contemporary art and craft. Take it away generated an increase in the total value of loans for musical instruments for children and young people by £200k to £4.5m. Another increase from last year is in the percentage of people using the scheme to purchase instruments for children, up from 54% to 65%. We have also seen more of our customers pursue music as performers, with 73% saying they’re more likely to play to an audience with their new instrument. The scheme has also proved invaluable to music retailers with an increase from 34% to 41% who have reported incremental sales income of at least £11k, delivering impacts for the high street as well as access to affordable musical instruments. In addition to this, and inspired by the individual and social benefits of participating in arts and culture, we are proud to have innovated a brand new product within the employee benefits market. ArtsCard, the UK’s first employee benefits programme for focus exclusively on arts, culture and creativity, successfully launched in pilot phase in December 2015 in London and the South East. Early indications show significant potential for the further development of this programme which we hope to achieve in partnership with others.
Mary-Alice Stack Chief Executive “…inspired by the individual and social benefits of participating in arts and culture…” Creative United Annual IMPACT Report 2015/2016
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