Survey Finds UK Companies Prioritise Creativity but Lack Financial Know-How

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4th September 2012 16:24 - Voluntary

A study by charity organisation Nesta, which provides investments, grants, networks and mentoring resources to businesses, has found that many ambitious creative companies are being held back by a lack of business and planning skills.

The ‘Opinion Matters’ survey interviewed 100 creative industry executives from the advertising, digital, film, gaming and TV sectors.

A total of 59% of these respondents claimed that their business excels in generating ideas, however only 20% felt their organisation has the equivalent level of expertise when it comes to business and financial forecasting.

The market research indicated that ‘creativity over bottom-line’ is hampering businesses, backed up by only 28% of respondents saying they excel in new business development.

In addition to creativity taking the forefront at the cost of practical administration, client servicing was also held to be more important, with 58% of surveyants saying they excel in dealing with clients.

Furthermore, when it comes to asking the right question to a mentor, a mere 10% of executives would want to know how they can improve their financial planning as top priority. Instead, leadership and team development were top on the list of need-to-know advice.

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