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Business News Labels & Publishers
UKTI announces new grants scheme for independent music
By Chris Cooke | Published on Friday 13 September 2013
Following yesterday’s little breakfast bash for music business bosses at Number 10 Downing Street, the government’s UK Trade & Investment department announced a new Music Export Growth Scheme which will allocate millions in grants to help British independent music companies seek new business opportunities abroad.
Business Secretary Vince Cable launched the new initiative by bigging up British music, saying: “The British music industry is a real success story. We are world leaders in creative talent and our music has been exported all over the world. It’s not just about enjoying the music. This worldwide success means jobs and economic growth back in the UK, so the government must do all we can to back our winning sectors and ensure their future success. Today’s money will do just that by helping hundreds of small and medium sized businesses to export more”.
The new scheme is backed by both record label trade bodies, the BPI and indie labels group AIM. The boss of the former, Geoff Taylor, told CMU: “Independent labels are an important part of what makes British music so special. With global interest in UK artists at such high levels, we want to ensure that indie artists and labels have the best possible chance to achieve success overseas. We are delighted that government has listened to calls from BPI and AIM for export support that will help British music do even better around the world”.
