Cebu creative industry seeks inclusion as funding recipient

CEBU, Philippines - The creative sector in Cebu hopes that the state-owned funding institution SB Corporation, will fast track the implementation of its request to include the sector as one of its beneficiaries in direct lending and in other facilities that it is offering.

The creative sector in Cebu, led by the Creative Council of Cebu submitted a proposal to SB Corporation last year to get funding support.

The Creative Cebu Council, with the help of the Department of Trade and Industry Cebu Provincial Office (DTI-CPO) asked the SB Corporation to include the sector in its priority list for beneficiaries of the state-run funding institution.

DTI-CPO director Nelia F. Navarro expressed confidence that the proposal will be facilitated soon by the SB Corporation, so that the potential of Cebu Creative sector will be harnessed and that players can have opportunity to compete in the global market.

SB Corporation’s available credit facilities are mostly merchandise based—something that is tangible, of which do not usually apply to the different requirements of the creative industry.

Navarro assured that if the proposal will be granted, more creative players in Cebu will be able to avail of the financial assistance, as long as they are members of an organization, or member of the Creative Cebu Council.

Members of the broad creative sector may be able to get financial assistance just like what other sectors’ have been enjoying.

According to Navarro the creative industry in Cebu has unique edge in making its way to compete globally, considering the availability of rich talent here. However, players need to have access to capital in order to expand, and pursue projects especially those that need capital infusion.

A GFI attached to the DTI, SB Corporation provides direct financing for small enterprises in need of additional capital for expansion, equipment acquisition, factory renovation, working capital as well as local and international receivables.

Other financial programs include credit guarantees, wholesale lending for SMEs, wholesale lending for graduating micros and wholesale micro-finance.

Cebu’s creative industry is now led by the Creative Cebu Council, a non-profit group with is an alliance of artists and creative entrepreneurs who have bonded together to promote, develop and champion the creative industries sector in Cebu.

The potential of Cebu’s creative sector was confirmed following the proclamation of British Council as the “Creative City” a couple of years back.

According to Navarro players in this sector, although broad, should be pro-active in pushing Cebu’s creative industry to the world market, and urged players to register with the council in order to get help and avail of technological and other support.

“The creative sector is so broad, we can’t identify them all. I encouraged them to reach out with us, or the Creative Council in order to be counted in,” said Navarro.

There are a lot of support that are up for implementation for the creative sector players, she added.

Navarro mentioned that there is a good creative support model in the United Kingdom that is under study, that can also be applied in the Philippine setting, this will determine the factors on how to effective support the creative industry.

A survey from the Intellectual Property Office (IPO) showed that the creative sector in the Philippines is contributing US$592 million, with 5.2 percent of the country’s entire GDP. This does not include the creations made by non-IPO registered products.

Navarro said Cebu has to lead in the formulation of solid creative industry sector, although she is anticipating a challenging work ahead, considering the very wide scope of industry’s included in the creative sector.

Initially, the Council enlisted nine sub-sectors in the Creative Industry in Cebu, these are;  the Advertising and Design; Animation; Architecture and Landscape; Film and Photography; Literature and Publishing; Multi-Media Arts; Music; Theater and Performing Arts; and the Visual Arts group.

Since the creative industry is so broad, Navarro urged creative players to register with the organization, of present themselves at the DTI-CPO office in order to avail of the support from the government, as well as other international development agencies of which programs are geared towards developing the potential sector.   (FREEMAN)