About one in eight UK businesses is in the creative industries, which before the pandemic were growing faster than the rest of the UK economy. Research by the creative industries Policy & Evidence Centre has identified the barriers to investing in research and development across the creative industries and the policy changes that could encourage more R&D funding in this area.
Based on evidence, the Creative Industries Policy and Evidence Centre (PEC) recommends that:
● The creative industries receive an increased investment from UKRI R&D funding in recognition of their size, growth and future growth potential.
● An R&D tax relief that works better for the UK’s creative industries, and in particular the use of an R&D definition which doesn’t disadvantage the creative industries.
● A strong focus on R&D in the UK Government’s upcoming Creative Industries Sector Vision.
The PEC has published research that looks at the barriers to achieving R&D funding, and case studies of specific creative sub-sectors, such as museums and galleries.
Find out more on the PEC site
Image source: PEC site