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Mapping of Nordic Creative and Cultural Industries

Financial Environment

image of Mapping of Nordic Creative and Cultural Industries

The creative and cultural industries (CCIs) have recently been debated widely, and access to finance has been at the forefront. This KreaNord report, created in 2012, maps the Nordic CCIs’ financial environment, and shows that the environment is facilitating the same access to corporate finance for CCIs as for other sectors. However, the supply of project finance requested by CCIs, is rare/non-existing, and mostly provided as debt. This report concludes the findings as market failure in supply of debt instruments for CCIs, and recommends a development process be initiated.Republished in 2015 following the end of KreaNord, the Nordic Council of Ministers’ initiative on cultural and creative industries (2008–2015).

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European approach

European value adding financial services are also part of Nordic financial environment of CCIs. Recently communicated programme plans and ongoing discussion on future financial instruments, the attention is drawn on following: intention to establish a financial Facility for CCIs and strong emphasis on supply of debt finance for R&I (research and innovation) projects owned and implemented by economic entities of any size and ownership, which are assessed being able to repay the loan.

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