How do I set up an arts company?

Jade asked our panel if they had any advice about setting up and running an arts company.

I am emailing to request any further information you may have to assist with my report in arts business, for setting up and running a arts company. I am currently studying for a degree in performing arts, acting and currently in the process of starting up a 'save the arts' campaign with a peer.
 
This information would be very useful for both puroses and I would be extremely grateful for any support and/or advice you have to offer. 

Emrys Green, Freelance Arts Consultant - When considering setting up an arts company there are many things to consider. Firstly is where to get the right help and support. I would personally point you straight to creative-choices.co.uk where there's some useful articles.

Then the practical steps might include:
 
1. Writing a business plan - identify your mission, your short and longer term objectives, what your services are, you're own strengths, weaknesses, opportunities and threats. You will also need to look at who your market is, who your competitors are and how you're going to market the business.
 
2. Ensure your financial projections are reasonable in the business plan - challenging maybe but also achievable and realistic.
 
3. Do the legal set-up - decide to set-up as a non profit, or a for profit company; or as a sole trader for now. Check your name on google and at www.companieshouse.gov.uk - be unique.
 
4.  Work on your branding, your image, and any promotional materials - get a website sorted and some business cards. Companies like www.mdkwebmedia.co.uk specialise in supporting small arts organisations.
 
5.  Get your product and services out there, make connections and network. If you are non-profit then seek out what funding might be available to help get you off the ground with projects.
 
6. Review where you're at as you go, make the tough decisions and remember what it was that you set out to do.  And most importantly - people. Network, find support and collaborations. You don't have to take everything on yourself. Enlist friends or professionals to help you with anything you struggle doing!

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