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Confidence high in creative sector
Confidence in Bristol and Bath’s creative sector is up, with 75 per cent of business people feeling more assured about their business prospects than in 2015 according to the latest Bristol Media annual barometer reports.
62 per cent of respondents had seen profits rise over the last 12 months and one fifth of companies are anticipating a profit increase of 21 per cent or more in 2016.
Employment opportunities are also increasing as over half plan to hire more people in the year ahead, which “indicates plans for growth and underlines the ambitions of creative companies in the region”. 30 per cent of companies are considering international expansion.
However, the report highlighted tension between companies and the growing trend for freelancing, and urged the creative industry to adapt or risk losing talent.
“The 2016 Bristol Media Barometer gives an insightful picture into Bristol & Bath’s creative sector,” says Bristol Media CEO Fraser Bradshaw.
“It shows a sector in good health and poised for further growth and greatness. Reports suggest that big international holding groups may start looking more closely at acquiring agencies in the regions in 2016.
“Speculation abounds that inward investment will continue in the area and that big media and creative companies will expand out to the regions over the next few years, driven by a lower cost base.
“The creative industries have been identified as a national and South West growth priority by the central government. The recent proposed creation of a ‘West of England’ Mayor and a Bristol city-region may well provide further impetus and infrastructure to highlight the successes of our industry and put the Bath and Bristol creative community further in the spotlight.”
That’s in line with the information from another report – TechNation – which found that the gross value added regionally by tech and digital businesses is £1.8bn. Between 2010 and 2014 that figure swelled by 26 per cent.
Read more: Behind the scenes at the Bottle Yard
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