17.04.2013: 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: