The research was published by the Department for Business, Innovation and Skills and the Department for Culture, Media and Sport. The statistical analysis was independently undertaken by Dr Stuart Fraser of Warwick Business School and the qualitative fieldwork was undertaken by IFF Research.
Dr Richard Wilson, CEO of TIGA, said:
“TIGA represents many start-up and small developers and so we have long been aware of the difficulties that they face when trying to access finance. It is excellent that this Government published report recognises this fact.
“On average, creative industry businesses such as games developers are younger than other businesses and have fewer tangible assets. This makes accessing finance more difficult. TIGA's most recent business opinion survey confirmed that access to bank finance remains problematic. Over two fifths of 104 games businesses reported that there was no difference in their business's ability to borrow from the bank when compared to six months ago, and 14 per cent said that it was now even more difficult.
“The Government must now work with the games industry and other creative sectors to develop a coherent strategy to improve access to finance for our industries.
Jason Kingsley, TIGA Chairman and CEO and Creative Director of Rebellion, said:
“I am pleased that this Government published report recognises that video games developers and other creative sectors find it relatively more difficult to access finance than comparable businesses in other sectors.
“TIGA intends to encourage the Government to adopt policies including Games Tax Relief, enhanced R&D tax credits, prototype funding and the establishment of a Creative Content Fund. These measures will enable the UK video games industry to grow, which in turn will help the wider UK economy.”
About the research:
The Government published research can be accessed at: http://www.berr.gov.uk/assets/biscore/enterprise/d...es.pdf
Link to appendices and other BIS SME research: http://www.bis.gov.uk/policies/enterprise-and-business-support/analytical-unit/research-and-evaluation/globally-competitive-business-environment
Dr Richard Wilson, CEO of TIGA, said:
“TIGA represents many start-up and small developers and so we have long been aware of the difficulties that they face when trying to access finance. It is excellent that this Government published report recognises this fact.
“On average, creative industry businesses such as games developers are younger than other businesses and have fewer tangible assets. This makes accessing finance more difficult. TIGA's most recent business opinion survey confirmed that access to bank finance remains problematic. Over two fifths of 104 games businesses reported that there was no difference in their business's ability to borrow from the bank when compared to six months ago, and 14 per cent said that it was now even more difficult.
“The Government must now work with the games industry and other creative sectors to develop a coherent strategy to improve access to finance for our industries.
Jason Kingsley, TIGA Chairman and CEO and Creative Director of Rebellion, said:
“I am pleased that this Government published report recognises that video games developers and other creative sectors find it relatively more difficult to access finance than comparable businesses in other sectors.
“TIGA intends to encourage the Government to adopt policies including Games Tax Relief, enhanced R&D tax credits, prototype funding and the establishment of a Creative Content Fund. These measures will enable the UK video games industry to grow, which in turn will help the wider UK economy.”
About the research:
The Government published research can be accessed at: http://www.berr.gov.uk/assets/biscore/enterprise/d...es.pdf
Link to appendices and other BIS SME research: http://www.bis.gov.uk/policies/enterprise-and-business-support/analytical-unit/research-and-evaluation/globally-competitive-business-environment
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Keywords: GamesIndustry, TIGA
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