Creatives spend more on bank charges than on R&D!

MyCake benchmark data of the creative industries shows that firms are spending more on indirect cost items such as pensions, utility bills and bank charges than on R&D. At just 1.1% of turnover, R&D gets half the budget spent on telephone charges, and creatives are spending 1.6% of turnover on bank charges ~ that’s 1.4 times the budget given to R&D!

In the fourth MyCake Benchmark Bulletin we look at the importance of R&D for creative businesses, how to fund it and how to make the best use of your budget.

Turnover & Production Costs

This post is a complement to the analysis undertaken for Artquest in the March – May 2010 newsletters. For more details on our partnership with Artquest click here. One of the things we’ve noticed as we analyse the 2008-9 data is that there is a dramatic difference between the profitability of the product based creative Read the full article…

Financial support for your business

Naturally, most people are interested in any financial support for their business.
Often, their enterprises are receiving financial support – from themselves !

Starting the year by putting your business in good shape

No gym required (though this post might provide food for thought as you pound that treadmill) instead some wise words from the mandarins (sorry still on the Christmas puns). How can you keep your profit high in a tough market whilst improving customer service and managing your cost base? Well there’s a sentence full of Read the full article…