Low awareness of finance schemes

Access to finance remains a problem for music companies, according to a new survey that shows awareness of loan schemes available to the industry is very low.

The UK Music survey shows that the most well known Government-backed scheme for obtaining loans is the Start-Up Loan.

But, still only 36% of the music companies surveyed by the group know of its existence.

The National Loan Guarantee Scheme and Enterprise Finance Guarantee also offer loans, but just 14% of music SMEs are aware of them.

There is slightly better awareness of investment vehicles:  the Enterprise Investment Scheme was known to 39% of those surveyed and just over a quarter knew about the Venture Capital Trust Scheme.

The full report by UK Music’s Director of Government & Public Affairs Tom Kiehl is available here:
UKMusicAccesstoFinance.pdf

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