New report from the Federation: Growing the UK’s Creative Industries
The creative industries are the fastest growing part of the UK economy. They contribute £101.5 billion in gross value added (GVA) - greater than automotive, aerospace, life sciences and oil and gas sectors combined.
The potential for future growth is clear, and must now be unlocked. Despite the success story to date, creative enterprises - which make up one in eight of all enterprises in the UK - face major challenges that prevent them from growing.
This report gets to the heart of the issue: what do creative enterprises understand by growth, how fast are they growing, and what prevents them from growing more? It is based on a survey of over 1,000 creative enterprises, a series of focus groups undertaken throughout the UK, and one-to-one interviews with trade bodies, government, and support intermediaries.
Alan Bishop, Chief Executive of the Creative Industries Federation, said: "The creative industries are one of the UK's most impressive success stories. Now worth more than £100bn in GVA, the sector is the fastest growing part of the UK economy, and yet our research shows that offering the right sort of support could unlock even more significant growth.
“To get this support right requires accurate understanding of what creative enterprises actually need in order to grow. This is what this report provides, and it will inform a more impactful support structure for the future.
“The quality and diversity of talent working in our creative industries has been central to its rapid growth and world-leading success. There is also a major, justified concern that Brexit on the one hand and the devaluing of creative education by government on the other will severely impact the sector's ability to thrive. Further, we fear that if these challenges are not addressed, the UK will fail to prepare the next generation for the future of work, where a blend of creative and technical skills will be crucial across all industries."
Margot James, Minister for the Creative Industries, said: “Our creative industries are at the heart of our economy, contributing a record £101 billion in 2017. Through our modern Industrial Strategy we are working with industry, academia and local authorities to back the sector across the UK and help creative businesses reach their full potential.”