Let’s talk about money!!! (arts funding)

We all know that arts is a common topic that comes out year after year for the A levels. Should you choose to specialize in this topic, you would need to understand the issues and complexity that come along with state funding of the arts. Of course, funding does come with tangible and intangible benefits and let’s have a look at some of these.

Monetary benefits of funding: the arts put people to work; it attracts tourism revenue; creates a distinctive brand identity; it helps to develop rural development and infrastructure by allowing small businesses to be created through small handicraft sales; ability to attract the much needed foreign direct investment (FDI) into the state to improve the arts sector; link up with the overseas arts production houses for a collaboration.

Educational and work benefits of funding: arts students are apparently more critical and analytical; have better social and interpersonal skills that is needed for the new workforce, the arts industry also helps to address a shortage of creative workers; the arts help to keep students in schools by giving them a platform to express themselves etc.

Money

Civic benefits of funding: the arts foster civic participation and a strong democracy; brings public spaces to life; contribute to community vitality etc.

As we can see there are various benefits that could be reaped through state funding of the arts. Next, this would beg the question of whether one would be overly dependent on state funding that it cripples the flourishing of the whole industry? Should states fund the arts when they are not doing well economically? Well to put things into perspective, most state funding for the arts take up around 2.8% of the total revenue of the state. So that is really up to you to decide right? 🙂

If you have any queries or comments that you would like to raise, let us know regarding this topic. We would be happy to engage.

 

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