Finance opportunities for North of Tyne creative industries

Published: 31 July 2021
Reporter: Peter Lathan

Creative England / North of Tyne Combined Authority

Businesses and freelancers working in the visual arts, performing arts, music, film, TV, media, immersive and video games, advertising & marketing, digital & creative tech, creative software solutions, fashion, architecture, heritage, publishing, museums, libraries and galleries which are based in the North of Tyne (Newcastle, North Tyneside or Northumberland) can now apply for the North of Tyne Combined Authority and Creative England's Culture and Creative Investment Programme.

The UK Creative Industries report by the Creative UK Group (Creative England and the Creative Industries Federation) has revealed the impact of the Creative Industries in the North East. Its research finds that, prior to the pandemic, for every £1 in GVA (Gross Value Added: the measure of the value of goods and services produced in an area, industry or sector) contributed by the North East's creative sector, an additional £2.50 was generated in the wider economy through supply chains. This was the largest supply chain impact in any UK region, alongside that of Wales.

However, new data also shows that the North East's Creative Industries were among the hardest hit by COVID-19, and are estimated to have lost £160m in GVA (14%) and 2,500 jobs (4%) during the pandemic. They are also projected to be slowest to recover to pre-pandemic levels without further investment.

These findings underline the importance of the North of Tyne Culture and Creative Investment Programme, which will see £2.625 million invested, together with a wraparound business support programme for the North of Tyne's creative and cultural industries over the next two years.

There is full information on how companies and individuals can apply on the Creative England web site.

*Some links, including Amazon, Stageplays.com, Bookshop.org, ATG Tickets, LOVEtheatre, BTG Tickets, Ticketmaster, The Ticket Factory, LW Theatres and QuayTickets, are affiliate links for which BTG may earn a small fee at no extra cost to the purchaser.

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