Clusters for creativity
A new strategic approach to the creative industries sector could generate gross value added of £128.4 billion by 2025 and help create jobs, with a higher-than-average growth rate implying roughly one million new creative jobs by 2030. That’s according t0 the Independent Review of the Creative Industries Review led by Peter Bazalgette, chair of ITV, for the Department for Digital, Culture, Media & Sport.
The report advocates the deployment of a creative clusters strategy along with £500 million Creative Clusters Fund in the belief that it will deliver a model that also solves problems for other major parts of the economy.
“For instance, the wider tech sector shares many of the same features as large parts of the creative industries – highly mobile, with a large percentage of SMEs and [micro-enterprises] and highly innovative,” the study says.
The report recommends a bottom-up process enabling localities, which often have a firmer grasp of sector growth potential and needs than central government, to direct policy development, a move that would solve the problem government has engaging with fragmented sectors.
The report finds that current direct investment into creative industries R&D projects is too low and proposes that industry and government work together to ensure that the contribution of creative disciplines to R&D is properly valued.
It also points out that some creative micro-enterprises and SMEs are disadvantaged compared to small businesses in other sectors when seeking growth capital, and suggests this be addressed through a ‘ladder of growth’ working for businesses of different sizes.
Image: Department for Digital, Culture, Media & Sport