Sector sponsorship of cultural activities, investing over £7.5 million to help more than 500 creative projects throughout Scotland get off the ground.
On 3rd April 2017, the new Culture & Business Fund Scotland (CBFS) was launched by Cabinet Secretary for Culture, Tourism and External Affairs, Fiona Hyslop. Evolving from the renowned NASG programme, the CBFS will continue to offer match funding for arts projects across Scotland, is bolstered with a new dedicated heritage strand and will allow projects to continue to receive funding during their second and third years.
In the current economic climate, rising costs and shrinking budgets are putting pressure on arts and heritage organisations’ finances, making private sector sponsorship more important than ever. Programmes such as this have the important benefit of encouraging private investors to give generously to the cultural sector with the reassurance that the value of their investment will be matched by government support. As well as doubling the financial stimulus to qualifying cultural projects, allowing larger and more complex projects to get off the ground, this approach also amplifies the positive impact on business from being associated with these projects.
Over the years, I have spoken to many organisations that have enjoyed fruitful partnerships with the cultural sector as a result of our NASG programme. Common to all is their insistence of the huge benefits to their own business as a result of getting involved. A public opinion poll commissioned by Arts & Business Scotland to coincide with the launch of the new fund demonstrates the extent of these benefits to business. A majority of Scots say they would be more likely to buy goods and services from businesses that support arts and heritage projects in their local area. 69% agree it is important for businesses to support such projects in their local community while more than three in four Scots agree that supporting local cultural and heritage projects reflects well on businesses.
As many participating businesses will testify, supporting cultural projects isn’t just an act of selfless philanthropy. There are lots of good, hard-headed business reasons for doing it. With its new wider scope and longer term focus, I look forward to seeing the Culture & Business Fund Scotland deliver many more successful partnerships between business, heritage and the arts over the next year and beyond.
