• Skip to primary navigation
  • Skip to main content
  • Skip to footer

News and entertainment worth sharing – York and North Yorkshire

  • News
  • Things to do
  • Radio
  • Vouchers
  • Categories
    • Business
  • More
    • Comments
    • Advertise
    • Contact us
City Cruises York

Crowdfunding ‘key for York’s creatives’

Tuesday 30 April, 2013 @ 3.01 pm Business YorkMix
Share via...
All for crowd-funding… David Dickson

Crowdfunding is set to provide a much-needed boost to the Yorkshire creative sector, according to a leading York financial specialist.

Accountants Garbutt & Elliott, based at Monks Cross, hailed the formation of the UK Crowdfunding Association as a “crucial move” in providing finance as banks remain reluctant to lend.

Crowdfunding allows small firms and start-ups to raise capital from many small investors, either by selling an equity stake, or in return for “rewards” or discounts related to products and services.

“The creative sector has recently struggled to raise money from the banks, which has been a barrier to growth,” said senior partner David Dickson.

“Crowdfunding can dramatically change this. Whilst it only raised around £11 million for businesses in the UK last year, our predictions indicate this will now become a major source of early stage finance.”

He highlighted the Venturefest York presentation given by Charles Cecil of Revolution Software about their recent success in attracting funding this way.

“There are also a number of other organisations in the city who have successfully raised finance through Crowdfunding operators such as Indiegogo and Kickstarter for creative projects including films, videos, music albums and plays,” Mr Dickson said.

You can download Garbutt & Elliott’s Crowdfunding report (PDF) here. It was written by Adeoluwa Adeniyi, an intern from the University of York who worked at the firm last summer.

“Our experience in seeing crowdfunding operate in the USA supports the view that it should be encouraged, as it will provide one of the UK’s largest growth areas with an appropriate form of funding which is monitored by appropriate legislation,” Mr Dickson added.

Footer

YorkMix
News 01904 848 766
Email YorkMix news »
5-6 King's Court, Shambles, York  YO1 7LD
YorkMix Radio
General enquiries 01904 375 029
Studio/competitions 01904 375 030
Email YorkMix Radio »
Selby Superbowl, Bawtry Road, Selby  YO8 8NA
YorkMix is a trading name of YorkMix Media Ltd
Registered in England
Company number: 07814727
VAT number: 154 0364 34
© York Sound Ltd

Copyright © 2022 YorkMix Media Ltd

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT