The latest figures for private support in the arts published today by Arts & Business, the national charity dedicated to encouraging and developing effective partnerships between business and the arts, show that the total amount of private support for the arts in Scotland has grown to £24.8 million in 2004/5. Outside London, Scotland is the biggest recipient of private investment, with a 6% share of the UK figure of £452 million.

The Arts & Business Private Investment in the Arts report is the only survey in the world to produce these figures and reports on both business investment and individual giving together. The biggest growth area across the UK has been in individual giving which now stands at £244 million, a figure that is growing steadily by about £20 million every year, and has risen by 18% since 2002/03. Business investment rises slightly to £119 million and investment from trusts and foundations falls to £88.7 million from 2003/04 figures.

Barclay Price, Director of Arts & Business Scotland, comments: “These are very significant figures. There is more money going to the arts from the private sector than ever before. No-one should ever dare write private sector income out of the arts funding script. We will continue to prove the case that the arts are a good cause for additional private sector investment, creating a richer society for us all.”

The individual giving figures show the continuing importance of individual and trust income to the arts, with these income sources, when combined, generating more than twice the amount of business support. These individual figures highlight the continuing need for the Art & Business Maecenas Initiative, which is focusing on developing sustainable income at all levels from individuals for the small to medium size cultural sector outside of London.

Although the latest figures show an increase, Scottish arts organisations report facing strong competition for private investment from other fundraising-savvy charities and organisations.

Barclay Price says: “These figures underline the significant part business and individuals within Scotland play in our thriving and vibrant cultural life. However it is important that we continue to encourage private sector support of the arts as a supplement, not a substitute. It is through partnerships between the public sector, businesses, individuals and communities that Scotland’s artists and arts organisations can deliver the First Minister’s vision for the arts as the most potent force for individual change and social vision.’

Culture Minister, Patricia Ferguson, adds: “These impressive figures demonstrate the importance of sponsorship of the arts by Scotland’s business community.

“It shows that our businesses realise and embrace the benefits of investing in arts and culture”