Sugar has arrived, several years in the making and our mission is to fill a huge void in the world of games. Financing for the games industry, no equity, pain free, all done just the way that studios want it. Our main focus here is to talk about the five key challenges we hear about from the studios we speak to.
Statistics released today by the British Film Institute show that 132 video games received final certification for VGTR in the first three quarters of 2018. These games had a combined UK / EEA spend of £94m, out of a total budget of £108m.
The BFI has published a major report on the economic impact of the screen sector tax relief incentives, its first since 2015.
The report, entitled 'Screen Business', demonstrates the scale of the UK games industry, as a key part of the screen industries, with overall workforce and development spend significantly incentivised by VGTR, stimulating growth in the UK economy.
We have today launched our new Access to Finance Guide for games businesses. You can find the full guide here.
Accessing finance is a challenge facing many games businesses in the UK. The new Ukie Access to Finance guide, written by Ukie Partner members Harbottle & Lewis, tells UK games businesses where to look for sources of funding and how best to make use of them.
The government published its plans yesterday for reform of the BBC. Although not as sweeping as had been predicted beforehand, they are planning significant changes to the oversight structure - abolishing the BBC Trust and replacing it with a new unitary board. The composition of this board, and how many of its directors will be appointed by the government rather than the BBC, has been the greatest point of contention so far.
Tax Reliefs and Access to Finance come under scrutiny
Two new consultations have been announced to run into the New Year, on the issues of tax reliefs and access to finance. If you would like more information on either issue, email Andy.
Labour review of Tax Reliefs
New £40m fund and guide to finance for creative industries launched
A new £40 million private equity fund focused on the creative industries has been launched, with support from the government's British Business Bank.
Games in Scotland: your views to Parliament
We have submitted evidence to an inquiry by the Scottish Affairs Committee in the UK Parliament. The Committee are examining the Creative Industries in Scotland, and asked for views on what more should be done to strengthen the sector.
The Chancellor delivered his Autumn Statement today – a mini-budget that is one of the big occasions each year when the government makes major spending announcements. We listened live and tweeted any good news.