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54-584: Through this advocacy and by leveraging the combined influence of its 1,000+ members across all creative sectors, the Federation further sought to secure the investment required to retain the creative industries' position as the fastest growing sector of the UK economy, as of 2017 worth £91.8bn in Gross Value Added to the UK. On 24 November 2021, Creative Industries Federation and Creative England combined forces under

108-589: A Creative U.K. training program consisting of mentoring and residential lab events. Netflix executives will also provide support and input. Following residential workshops, at least one film will be greenlit with an approximate £1.5m budget and a global launch on Netflix. In April 2023, the first "Breakout" projects were announced. Small and medium-sized enterprises Small and medium-sized enterprises ( SMEs ) or small and medium-sized businesses ( SMBs ) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME"

162-509: A calendar of networking events, international trends analysis and discount offers for members. The Federation represented the interests of the UK creative industries to the UK government, the media and the general public. Policy and research was at the heart of the Federation's work, with its aim being to secure the best possible conditions for growth and continued success for the UK's creative industries, developing policy priorities through consultation with its members. Successes include securing

216-471: A definition is given to explain what constitutes a micro-enterprise or a small enterprise or a medium enterprise. If an enterprise does not fall under the above categories, it would be considered a large-scale enterprise. In June 2020, India updated the definition as follows: Businesses that are declared as MSMEs and within specific sectors and criteria can then apply for "priority sector" lending to help with business expenses; banks have annual targets set by

270-632: A larger share of small and medium-sized enterprises. SMEs are also responsible for driving innovation and competition in many economic sectors . Although they create more new jobs than large firms, SMEs also suffer the majority of job destruction/contraction. According to the World Bank Group 's 2021 FINDEX database, there is a $ 1.7 trillion funding gap for formal, women-owned micro, small, and medium-sized enterprises. Additionally, over 68% of small women-owned firms lack access to finance. SMEs are important for economic and social reasons, given

324-654: A recent European Commission analysis, mid-cap companies (250-3000 people) make up about 17% of total employment and 21% of turnover in the EU27 business sector. Micro firms (with fewer than nine employees) employ 38% of the total workforce, while SMEs with fewer than 250 employees account for 34.4%. Larger (XL) firms with 3,000 or more employees account for 10.1% of overall employment in EU business sectors. According to Eurostat SBS statistics, in 2021, tiny enterprises (0-9 workers) and SMEs (excluding micro firms) employed around 30% and 34.5% of

378-464: A successful application of policies to ease financial limitations for SMEs even when they receive help from the banking sector. The EIB Group contributed more than €16.35 billion to small and medium-sized firms in 2022. SMEs were more quick in altering output during the pandemic, despite the intensity of the shock. In reaction to the crisis, one-third of major enterprises altered their output or services, compared to 37% of SMEs. Large businesses, on

432-494: Is approximately equal to US$ 3.1 million as of April 2024. Despite their significant contribution to GDP and job creation, Indonesian MSMEs confront a number of obstacles. One of the most significant is capital access: 60-70 percent of MSMEs lack access to financial institutions and their funding options. Other restrictions include inadequate infrastructure, difficulties acquiring company licences and permissions, high tax rates, political insecurity, and improving their brand image in

486-466: Is available for all EU member country citizens and organizations. Especially, national and regional authorities, enterprises, business associations or organizations, venture capital providers, research and academic institutions, and individual citizens are expected as the main contributors. EU member states have had individual definitions of what constitutes an SME. For example, the definition in Germany had

540-590: Is between ₦5  million ($ 15,400) to ₦500 million ($ 1,538,000), and a staff strength that is between 11 and 100 employees. In Somalia , the term is SME (for "small, medium, and micro enterprises"); elsewhere in Africa, MSME stands for "micro, small, and medium enterprises". An SME is defined as a small business that has more than 30 employees but less than 250 employees. In the National Small Business Amendment Act 2004, micro-businesses in

594-427: Is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro." In order to prepare for an evaluation and revision of some features of the small and medium-sized enterprises definition European Union established public consultation period from 6 February 2018 to 6 May 2018. Public consultation

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648-497: Is part of Egypt's 2012/13 economic census on establishments ranging from small stalls to big enterprises. Economic activity outside the establishments – like street vendors and farmers, for example – were excluded from the census. The results show that Egypt is greatly lacking in medium-sized businesses. Seventy percent of the country's 24 million businesses have only one or two employees. But less than 0.1 percent – only 784 businesses – employ between 45 and 49 people. In Kenya ,

702-629: Is used by many national agencies and international organizations such as the World Bank , the OECD , European Union , the United Nations , and the World Trade Organization (WTO). In any given national economy, SMEs outnumber large companies by a wide margin and also employ many more people. On a global scale, SMEs make up 90% of all companies and more than 50% of all employment. For example, in

756-548: The 43 countries assessed in 2017. According to the World Bank, women own 58% of all MSMEs in Africa. The European Investment Bank 's Banking in Africa survey, 2021 suggests that most of the responding banks had a non-performing loan (NPL) ratio of at least 5%. NPLs account for at least 10% of the SME portfolio in approximately one-third of African banks. Furthermore, 50% of the banks had at least 5% of their SME portfolio under

810-742: The European Commission , SMEs are enterprises which meet the following definition of staff headcount and either the turnover or balance sheet total definitions: In July 2011, the European Commission said it would open a consultation on the definition of SMEs in 2012. A consultation document was issued on 6 February 2018 and the consultation period closed on 6 May 2018. As of November 2019 , no conclusions or responses have yet emerged. In Europe , there are three broad parameters that define SMEs: The European definition of SME follows: "The category of micro, small and medium-sized enterprises (SMEs)

864-550: The European Commission . The organisation aimed to "support original storytellers, driving diversity, collaboration and growth in the creative screen industries". Creative England and Microsoft launched Greenshoots in 2013, a game development competition which provides funding and market advice from industry experts to the winners. In 2015, Creative England launched a £1m fund, used to support entrepreneurs in film, television, games and digital media in English cities and regions beyond

918-535: The moratorium , and 40% had at least 5% of SME loans under some type of restructuring. Most of Egypt 's businesses are small-sized, with 97 percent employing fewer than 10 workers, according to census data released by state-run statistics body CAPMAS (Central Agency for Public Mobilization and Statistics). Medium-sized enterprises with 10 to 50 employees account for around 2.7 percent of total businesses. However, big businesses with over 50 employees account for 0.4 percent of all enterprises nationwide. The data

972-688: The Creative UK Group. The launch coincided with updated branding across the organisation and a new tag line; Here for those who dare to imagine. Within Creative UK's launch statement on the same day, CEO Caroline Norbury MBE stated "By coalescing the collective capabilities of Creative England and the Creative Industries Federation, and drawing on the insights and experience of our growing membership, we are perfectly positioned to have visible impact and drive real change." The Federation

1026-544: The Dark Half . Shortflix (stylised as 'shortFLIX') is an initiative for new filmmakers aged 18–25 to make short films for broadcast on Sky Arts , its focus being those who have had fewer opportunities to get started in filmmaking, including those who are currently underrepresented in the industry. Partnered with the BFI and National Youth Theatre , shortFLIX launched in May 2017 with

1080-574: The EU, 99% of all businesses are SMEs. Australian SMEs makeup 98% of all Australian businesses, produce one-third of the total GDP (gross domestic product) and employ 4.7 million people. In Chile , in the commercial year 2014, 98.5% of the firms were classified as SMEs. In Tunisia , the self-employed workers alone account for about 28% of the total non-farm employment, and firms with fewer than 100 employees account for about 62% of total employment. United States' SMEs generate half of all U.S. jobs, but only 40% of GDP. Developing countries tend to have

1134-515: The EU, the Federation continued to canvas its members and produce a series of events and reports to help inform UK government policy with regards to Brexit and its potential impact on the creative industries. In February 2017, Creative Industries Federation former CEO, John Kampfner , was invited to present evidence on this issue to a DCMS Select Committee, alongside Sir Peter Bazalgette , then chair of Arts Council England , and Nicola Mendelsohn , Vice President EMEA for Facebook . In March 2017,

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1188-624: The European Union (EU) and employ two-thirds of the workforce in the EU. The majority of European firms are small and medium-sized enterprises (SMEs), employing over 100 million people. Due to the COVID-19 pandemic , a large majority of SMEs saw a decline in revenue during 2020-2021. Medium-sized businesses (or mid-caps) play an important role in the European economy, accounting for a considerable part of employment and wealth production. According to

1242-570: The Federation announced the appointment of its new chair, Rick Haythornthwaite , who succeeded founding chair Sir John Sorrell in April 2017. In July 2018, Alan Bishop, former CEO of the Southbank Centre , succeeded John Kampfner as CEO of the Creative Industries Federation. On 24 November 2021, Creative Industries Federation and Creative England combined forces under the newly formed Creative UK , having previously worked together since 2019 under

1296-492: The Federation forged working relations with the UK government and political parties of all hues, working closely with eight Whitehall departments as well as devolved and city administrations and local authorities. Its work helped secure a better-than-expected settlement for the arts in the November 2015 spending review. After the Federation's survey prior to the 2016 EU Referendum revealed that 96% of its members backed remaining in

1350-503: The Prime Minister's Task Force on MSMEs for year-on-year increases of lending to various categories of MSMEs. MSME is considered a key contributor to India's growth and contributes 48% to India's total export . In Indonesia , the government defines micro, small, and medium enterprises ( Indonesian : usaha mikro kecil menengah , UMKM) based on their assets and revenues according to Law No. 20/2008: An annual revenue of Rp 50 billion

1404-411: The SME or the prime reason for the business failing. At the employee level, Petrakis and Kostis (2012) explore the role of interpersonal trust and knowledge in the number of small and medium enterprises. They conclude that knowledge positively affects the number of SMEs, which in turn positively affects interpersonal trust. Note that the empirical results indicate that interpersonal trust does not affect

1458-491: The capital city of Indonesia, 529 MSMEs with the potential to be funded have been identified by Bank Indonesia . According to the Department of Trade and Industry 's 2020 List of Establishments report, there are 957,620 registered business enterprises operating in the country, composed of 99.51% MSMEs and 0.49% large firms. The MSMEs consist of 88.77% microenterprises, 10.25% small enterprises, and 0.49% medium enterprises. Among

1512-555: The capital. Launched in Bristol in 2010, supported by the BBC and South West Screen , iFeatures began as a way to nurture the cities "most outstanding creative talent" as well as attract up-and-coming filmmakers from across the UK and Europe. The following year, it was launched nationwide. Since its creation, iFeatures has gone on to help fund 20 feature films , including Lady Macbeth , The Levelling , The Goob , and, flagship film, In

1566-440: The catering, accommodations and other trade sectors as well as in the manufacturing sector, with a maximum of R32 million ($ 2,214,800) in the wholesale trade sector. Medium-sized businesses usually employ up to 200 people (100 in the agricultural sector), and the maximum turnover varies from R5 million ($ 346,100) in the agricultural sector to R51 ($ 3,529,800) million in the manufacturing sector and R64 ($ 4,429,600) million in

1620-494: The contribution of a smaller business. Multilateral organizations have been criticized for using one measure for all. The legal boundary of SMEs around the world vary, and below is a list of the upper limits of SMEs in some countries. African small businesses frequently struggle to get the cash they require to thrive. According to the SME Finance Forum, the formal financing gap for African SMEs averaged 17% of GDP across

1674-468: The country's total employment with a 29.38% share from micro-enterprises followed by 25.78% and 7.50% for small and medium enterprises. With effect from 1 April 2011, the definition of SMEs is businesses with annual sales turnover of not more than $ 100 million or employing no more than 200 staff. Small companies are important to the European economy as they account for 99.8% of non-financial enterprises in

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1728-569: The creative industries in the United Kingdom. The business promotes the development of creative companies, which in turn support business across games, film, creative and digital media as well as production services. The company works in partnership with the BFI , has offices in Bristol and Salford , and operates predominantly outside of the city of London . On 24 November 2021, Creative England and Creative Industries Federation combined forces under

1782-440: The different sectors, varying from the manufacturing to the retail sectors, are defined as businesses with five or fewer employees and a turnover of up to R100,000 ZAR ($ 6,900). Very small businesses employ between 6 and 20 employees, while small businesses employ between 21 and 50 employees. The upper limit for turnover in a small business varies from R1 million ($ 69,200) in the agricultural sector to R13 million ($ 899,800) in

1836-559: The digital era. 21st-century businesses strategically use both their websites and social media in order to advertise their products and control their branding . Quality content on both information streams will positively affect branding and attract customers. The People's Business Credit (Kredit Usaha Rakyat, or KUR [ id ] ) was established in 2007 by President Yudhoyono to extend credit to businesses that were considered "feasible but not bankable". Bank Rakyat Indonesia conducts more than half of KUR lending nationwide. In Jakarta ,

1890-420: The entire workforce in EU27 business sectors, while bigger firms (250+ employees) contributed for 36.4% of overall employment. The pandemic has had a greater impact on SMEs than on large businesses, with an average sales loss of 26% versus 23% for large businesses. Government assistance appears to have benefited SMEs more than large corporations among the companies that do have overdraft facilities, indicating

1944-860: The first five short films exploring subjects including black gay dancehall culture in London, homophobia in an Afro-Caribbean hair salon in Sheffield and a suicidal young man in Bath. In an interview with Game of Thrones actress , Ellie Kendrick , Norbury explains that the organisation was set up "to combat the challenge that whilst talent might be everywhere, opportunity is not" adding that shortFLIX enables "talented new filmmakers from diverse backgrounds to tell their story about their community and identity". The films were produced by Manchester-based production company Delaval Film. In 2020, Carrie Battram, Johnny Massahi, Danny Seymour, John Akinde, and Isabella Culver were announced as

1998-486: The inclusion of the creative industries in plans for the UK government's industrial strategy, to include an independent review of the sector by Sir Peter Bazalgette to inform an early sector deal. Focuses included the impact of Brexit on the creative industries, development of a skilled workforce through creative education in schools, measures to diversify the workforce, improved support for working internationally, access to finance through both public and private funding and

2052-423: The name 'Creative UK Group', in November 2021, Creative England and Creative Industries Federation decided to merge and create 'Creative UK'. In 2022, Creative UK's Head of Film, Paul Ashton, announced a partnership with Netflix UK for first-time feature film directors called "Breakout". Participants will be made up of six teams, each of which will receive £30,000 ($ 40,000) worth of development funding in addition to

2106-437: The necessary infrastructure such as fast broadband and intellectual property rights protection. The UK Council met three times a year to inform the Federation's policy work. Council members were selected from the Federation membership to give representation to all the arts and creative industries across the commercial, public and education sectors as well as broad representation of the country at large. The International Council

2160-532: The newly formed Creative UK . The Federation was the brainchild of Sir John Sorrell , the designer and UK business ambassador, and a team of creative leaders including Sir Peter Bazalgette , Sir Nicholas Serota , Tim Davie of BBC Worldwide , Caroline Rush of the British Fashion Council , Amanda Nevill of the British Film Institute and Darren Henley . The ambition of the Federation

2214-493: The newly formed Creative UK, having previously worked together since 2019 under the Creative UK Group. The launch coincided with updated branding across the organisation and a new tag line; Here for those who dare to imagine. Creative UK currently supports filmmaking opportunities shortFLIX , in collaboration with Sky Arts , iFeatures with the BFI and BBC Films , and Breakout with Netflix . These provide mentoring and funding to emerging film makers. Creative England

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2268-471: The next recipients of the scheme which also received a boost in funding from ScreenSkills, a London-based non-profit specialising in the promotion of new talent. The Creative Industries Federation was a national organisation for all the UK's creative industries, cultural education and arts. It advocated for the sector, aiming to ensure that the creative industries are central to political, economic and social decision-making. Having worked together under

2322-420: The number of SMEs. Therefore, although knowledge development can reinforce SMEs, trust becomes widespread in a society when the number of SMEs is greater. Medium- or mid-sized enterprises which have grown beyond the scale of a "small business" may have different support needs from those of small businesses, and their contribution to the local and national economy where they operate may also be quite distinct from

2376-544: The other hand, embraced digitization to a greater extent than small businesses, with 26% boosting their online distribution of products and services, compared to 22% for SMEs. The most significant difference in adaption measures was shown in the chance of expanding remote work, which increased by 25% among SMEs but 50% among large businesses. The criteria for defining the size of a business differ from country to country, with many countries having programs of business rate reduction and financial subsidy for SMEs. According to

2430-535: The sector's role in employment. Due to their size, SMEs are heavily influenced by their Chief Executive Officer , a.k.a. CEOs. The CEOs of SMEs are often the founders, owners, and managers of the SMEs. The duties of the CEO in a SME mirror those of the CEO of a large company: the CEO needs to strategically allocate their time, energy, and assets to direct the SMEs. Typically, the CEO is the strategist, champion and leader for developing

2484-482: The term changed to MSME, which stands for "micro, small, and medium-sized enterprises". For micro-enterprises, the minimum number of employees is up to 10 employees. For small enterprises, it is from 10 to 50. For medium enterprises, it is from 50 to 100. The Central Bank of Nigeria defines small and medium enterprises in Nigeria according to asset base and a number of staff employed. The criteria are an asset base that

2538-450: The top industry sectors include (1) wholesale and retail trade; repair of motor vehicles and motorcycles (445,386); (2) accommodation and food service activities (134,046); (3) manufacturing (110,916); (4) other service activities (62,376); and (5) financial and insurance activities (45,558) which accounted for about 83.77% of the total number of MSME establishments. Prior to the pandemic, MSMEs generated more than 5.38 million jobs or 62.66% of

2592-1438: The wholesale trade, commercial agents and allied services sector. A comprehensive definition of an SME in South Africa is, therefore, an enterprise with one or more of the following characteristics: SMEs account for nearly 90% of all company entities in developing Asian countries and are the principal private sector employers, supplying 50-80% of all jobs. SMEs cover 97-99% of all firms in South-east Asia , contributing considerably to each country's GDP—for example, 46% in Singapore, 57% in Indonesia, and over 40% in other nations. In Bangladesh , Bangladesh Bank defines Small and medium enterprises based on fixed assets , employed manpower and yearly turn over, and they are definitely not Public Limited Co. and requires these characteristics: Key: SE = Small enterprises; ME = Medium enterprises; N/A = Not Applicable; Tk lakhs= × 100,000 Bangladeshi takas Hong Kong defines Small and Medium Enterprises (SMEs) as any manufacturing business that employs less than 100 people or any non-manufacturing business that employs less than 50 people. 98% of business establishments in Hong Kong are defined as SMEs and employed 45% of

2646-675: The work force. India defines Micro, Small and Medium Enterprises based on dual criteria of investment and turnover. This definition is provided in Section 7 of Micro, Small & Medium Enterprises Development Act, 2006 (MSMED Act) and was notified in September 2006. The Act provides for the classification of enterprises based on their investment size and the nature of the activity undertaken by that enterprise. As per MSMED Act, enterprises are classified into two categories - manufacturing enterprises and service enterprises. For each of these categories,

2700-521: Was founded in 2010, formed by the consolidation of a number of regional screen agencies into one body after the UK government dismantled the UK Film Council in 2011. It was funded by both public and private investment and developed partnerships and collaborations with companies including Google , Facebook and KPMG , as well as local authorities, cultural bodies and universities, national government, and

2754-696: Was funded through a membership scheme through which it represented more than 1000 organisations drawn from across sectors including advertising and media, animation, architecture, broadcasting, crafts, creative education, creative tech, design, fashion, film, heritage, museums, galleries and libraries, music, performing arts, photography, publishing, video games, visual arts and visual effects. Members included FTSE 100 companies, multinationals, privately owned businesses, SMEs , charities and non-profit organisations, trade associations, universities and further education colleges, and individual practitioners. The Federation provided members' benefits including research reports,

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2808-484: Was launched in July 2016, featuring creative industries leaders from around the world. It identified emergent opportunities for the sector and examples of innovation and best practice from around the world. These findings inform the Federation's biannual international magazine, C.International. Creative England Creative UK (known as Creative England from 2010 to 2021) is a not-for-profit organisation that supports

2862-461: Was officially launched in November 2014 with an event at Central Saint Martins College of Art and Design . This event was attended by more than 500 people from across the creative industries and featured keynote speeches by George Osborne , Martha Lane Fox and UK President of Warner Bros , Josh Berger. The Federation's membership scheme commenced in January 2015. During its first year of operation,

2916-503: Was to give political clout to a sector that had been the fastest growing part of the UK economy over the previous decade, but had never punched above its weight with government. Operations commenced in March 2014, with early development of the organisation led by the Federation's founding CEO, John Kampfner , and originally funded by more than 200 founder supporters prior to the launch of its membership scheme. The Creative Industries Federation

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