A Bennett School report into one of the Government\u2019s eight key Industrial Strategy sectors, the creative industries, explores better understanding of how value is measured, how firms access finance, where creative capacity exists, and who is able to take part.<\/p>\n\n\n\n\n\n\n\n
Bennett School writes:<\/p>\n\n\n\n
Despite being one of the Government\u2019s eight key Industrial Strategy sectors, the creative industries in the United Kingdom (UK) remain one of the least well appreciated segments of our economy. In 2023, the sector generated \u00a3124 billion in Gross Value Added (GVA), amounting to 5.2% of UK GVA, driving innovation and exports. At the same time the sector\u2019s reliance on intangible assets and short term, project-based work means that many potentially high growth firms struggle to access the finance required for scaling up. A problem for many UK start-ups, this is all the harder for creative sector firms.<\/p>\n\n\n\n
This report proposes that better data and targeted investment are essential to unlocking the sector\u2019s full potential. It examines the dynamics and geography of growth. By combining offi cial statistics with a granular analysis of Creative UK\u2019s Creative Growth Finance (CGF) portfolio, we provide evidence that targeted finance could bridge market gaps. What\u2019s more, such investment would be particularly effective in supporting fi rms outside London and the South East, fostering more geographically inclusive growth at the same time as leveraging private capital.<\/p>\n\n\n\n
The report also explores the transformative pressures of artificial intelligence (AI) and digitalisation. While these tools offer immense opportunities for content enhancement, they also demand a robust policy response to protect intellectual property and address labour precarity \u2013 as we argued in a previous policy report on copyright and the creative industries\u2026.<\/p>\n\n\n\n
All previous UK governments that introduced an industrial strategy recognised the sector\u2019s economic as well as cultural and civic importance. As the UK implements its current Modern Industrial Strategy (2025), this report offers a useful evidence base for policymakers. It makes the case for a coordinated approach aligning finance, skills development, and a place-based intelligence. By treating the creative industries as a strategic driver of systemic innovation, with spillovers for other parts of the economy, policymakers can ensure the UK remains at the forefront of the global creative economy, and that this economically important sector continues to contribute to national economic growth.<\/p>\n\n\n\n