Create Growth Programme strengthens foundations for creative businesses

The UK government’s Create Growth Programme (CGP) has delivered clear benefits for creative businesses across England

The CGP was a £43m initiative funded by the Department for Culture, Media and Sport (DCMS) to support businesses in the creative industries through a bespoke package of finance, business support and investor engagement, in twelve regions across England.

Our independent evaluation points to the programme boosting investment readiness, improving business practices and leading to higher levels of innovation. These gains are expected to support growth over time.

The CGP has boosted confidence and financial knowledge among participating businesses. Around four in five supported businesses said the programme increased their confidence in their business offer and growth potential, while around two-thirds reported a better understanding of the investment landscape. Many businesses were also more likely to have a formal business plan and an intellectual property strategy after taking part, both of which can strengthen their appeal to investors.

The evaluation finds little evidence that these improvements have translated into any meaningful increase in demand for equity finance, which was an ambition of the programme.

The findings on growth are more encouraging. The programme appears to have increased innovation, improved business management and helped firms build new partnerships and collaborations. While longer-term evidence will still be needed to confirm lasting effects on turnover, employment and finance outcomes, the overall picture is that the programme has helped lay firmer foundations for growth going forwards.

The CGP has also strengthened local capacity to support creative industries in the twelve areas of England that participated in the programme. Increased coordination between local actors, improved understanding of business needs, and the development of data and resources are all expected to be local legacy benefits of the programme. These benefits are being directly built on in the areas that are receiving funding from the Creative Places Growth Fund going forward. 

Click here to read the full report, Evaluation of the Create Growth Programme.