Promoting entrepreneurship and access to finance in the Cultural and Creative Sector

<< Background >>It is a well-recognised fact at EU level that the Cultural and Creative Sector (CCS) is amongst the fastest growing sectors of the economy. Nevertheless, the challenges in accessing finance is one of the most critical obstacles to its growth and, as stated in the “EENC- Opportunities for CCSs to Access Finance in the EU”, access to finance is prevented by specific characteristics of CCS organisations. Among them: ● Characteristics of CCS activities: lack of tangible assets, high uncertainty of market demand, generation of value over long and uncertain periods of time, lack of knowledge of funding opportunities; ● Characteristics of CCS organisations and entrepreneurs: perceived lack of business skills, CCS entrepreneurs’ fear of losing control of their business, etc. ● Specific market conditions: lack of good market intelligence, pressure on existing business models (due to digital shift, among others), etc. For these reasons, it's crucial for the entire CCS to bridge the skills gap of professionals in the sector and facilitate access to credit by creating dedicated channels and providing solid information on the economic potential of the CCS to financial intermediaries.<< Objectives >>ProCCS has aimed to support the overall Cultural and Creative Sector by reinforcing the competences of professionals active in the CCS and connecting them with the business and microfinance sector, supporting cultural entrepreneurs in the implementation and financing of their business ideas. Furtheremore, the project paid special attention to the strengthening of digital skills as a tool to promote professional activities and to exploit new learning opportunities. Specific Objectives (SO) of the project are: SO1 - To create a European community of Tutor who are specialized in providing complete online training and mentoring to professionals active in the Cultural and Creative Sector;SO2 - To support the development of sense of initiative, managerial and entrepreneurial skills of CCS professionals;SO3 - To support the development of microbusiness ideas in the CCS by easing the access to credit and funding opportunities;SO4 - To support financial intermediaries in better understanding of specificity and peculiarity of the CCS and to reininforce their awareness on the economic potential of the sector itself. << Implementation >>The project activities are structured in different Work Packages, each with its own set of activities and expected results. Some results are particularly relevant to the achievement of each specific objective. In particular, the achievement of SO1 is closely linked to the development of the first result of the project (R1) and depends on the success of the implementation of the dissemination activities, including multiplier events as key moments to engage independent professionals and external stakeholders. It was realized also a joint staff training event, wich represents an important preliminary step to establish an international community of mentors, characterized by high skills related to digital learning environments, who are promoting a professional training model for CCS professionals to promote access to credit and microfinance. The achievement of SO2 is closely linked to the development of both R1 and R2 as an international group of highly qualified and trained mentors are able to train and support the small business idea of the CCS professionals involved during the pilot phase to test and validate the online course (R2). The achievement of SO3 is closely connected with the provision of pilot courses and subsequent validation of the online course (R2), as well as the creation of a receptive environment ready to provide financial advice and support CCS professionals. Finally, the achievement of SO4 were been fulfilled by the creation of the toolkit addressed to financial intermediaries to support business start-up in the CCS (R3).<< Results >>The main tangible results are 3. For each of them, the main intermediate actions undertaken for their realisation, outcomes and deliverables are described belowR1. Training course for tutors: a preliminary survey on learning needs was carried out by partners at national level to identify the learning needs of tutors. Pilot courses were held at local level by ENM and Innogrowth to test the effectiveness of the methodology and training tools and contents, involving 15 participants per countries. Their feedback and the learning materials were validated by partners and collected in a Handbook, translated in partners’ languages and disseminated in all countries. A Joint Staff Training Event (C1) was hosted by ENM in Rome, with 10 foreign participants selected from trainers and tutors involved throughout the pilot phase to share methodological guidelines and establish common ground for the delivery of training activities R2. Distance training course addressed to professionals of the CCS: a preliminary survey on learning needs was carried out by partners at national level to identify the learning needs of CCS professionals leading to the creation of guidelines, a research report and a set of key teaching and training key competences. The research phase was followed by an online pilot course and involved at least 10-15 CCS professionals per country. An evaluation report with participants’ feedback and a Handbook containing the methodology for a training course addressing CCS professionals was designed. R3. Toolkit addressed to financial intermediaries to support business start-up in the CCS: a research of best practices was conductued , collecting innovative methodologies in the financial intermediaries training, related to CCS enterprises. On this bases, a Toolkit addressed to the financial intermediarie was designed and translated in partners’ languages. Finally, round tables was run to assess the designed training course and methodology and ensure it answers to the final beneficiaries needs.The 3 results are available even after the end of the project to keep supporting the growth of the CCS. All project results were been disseminated at European level, taking advantage of the huge potentials of the partnership in terms of communication and belonging to extended EU networks of relevant stakeholders. 5 multiplier events, including a final event in Brussels, were been organized in all countries involved, in order to support the whole process and promote the project’s results among the widest possible audience.