In recent years, constraints on public-sector spending on culture have led to some creative thinking about alternatives to the “conventional”, well-known public and private support from governments, foundations, private donors and sponsors. ‘New’ financial instruments are being explored. These include ethical banks and social finance organisations, which regard social, environmental and cultural objectives as just as important as the financial return. Such organisations may offer loans, not ‘grants’. Some public authorities have also established intermediary agencies that can help cultural operators to access more conventional loans from banks.

Read more in the article of Christopher Gordon on sponsorship and alternative financing