The film business has an impressive history, even during the height of the last financial crisis film still stood strong. Despite the on-going recession the UK film industry is thriving. An Independent report recently published by Oxford Economics highlights the contribution that the film industry makes to long-term economic growth in the UK.
Success at the BAFTA’s and the Academy Awards shows the creative talent the UK has, but the film industry isn’t just about talent and awards. It plays a crucial part to the economy not just through film sales but also through job creation, tourism, exports and investments.
Overall the UK film industry contributes substantially to the culture of the UK and independent UK films help to promote Great Britain as a whole. Six British films premiered at the Festival de Cannes 2014, showing how important British films are. The Festival de Cannes celebrates all things cinematic and offers a chance for film professionals from around the world to network, show off their talent and attract new business. It runs from the 14th May – 24th May in Cannes city, France, attendance is invitation only.
The world of film is very important to the UK, the big studios have access to large budgets but Independent films provide an investment opportunity with compelling returns. Whilst investing in film is a high risk investment, it is also a high reward proposition. A film investment can produce revenue in ways which stretch far beyond the box office and independent films are in a great position to deliver returns to investors, especially when the film investment is supported by a government scheme, providing tax benefits for investors.
The Film Tax relief scheme certainly promotes the UK as a more attractive investment for film production, providing investors with a range of tax benefits and reliefs when they chose to invest in a UK film investment which is supported by the Enterprise Investment Scheme (EIS), or the Seed Enterprise Investment Scheme (SEIS).
The British Film Institute (BFI) support the UK film industry by awarding lottery funding each year to film production, distribution, education, audience development and market intelligence and research.
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