Cultural Businesses

Cultural organisations are surprisingly complex for their size. Everyone has an interest. Audiences, funding bodies, politicians, members, donors, trading companies, governing bodies and the media all make for a complicated and challenging environment.

Mike Woodward, ACMA has more than 20 years successful experience as Chief Operating Officer and Finance Director of major independent heritage and arts institutions.  He understands the sector and combines great analytical skills with an open and practical approach to finance and business issues.

Business Planning

Arts and heritage organisations should focus their efforts on creating great cultural experiences for current and future audiences.  That means they need to be resilient and sustainable, and that means having a sound business plan. We can:

  • Help you reassess your organisation’s current financial position
  • Work with staff and the governing body to generate ideas
  • Recommend options and strategies
  • Assess the risks you face and how to deal with them
  • Help you to communicate the results through business plans, reports and presentations

Understanding Finance

Even the most senior people in cultural organisations can feel out of their depth with finance and be mystified by accounts. We offer support and training for the senior team and governing body, that:

  • Explains the jargon, without over-simplifying
  • Debunks some of the myths & raises the right questions to ask
  • Focuses attention on the important facts and figures
  • Locates your cultural business in the wider business and political worlds

…all tailored to an analysis of your organisation’s current situation.

Resilience Health Check

Why not start with a quick, high-level, independent health check? It might avoid a lot of trouble later.  The check is based on Arts Council monitoring prompts and includes:

  • Review of your organisation’s current overall financial position
  • Review of key trends and risks
  • Review of key systems and controls
  • Governance good practice check-list
  • Summary report and recommendations

Troubleshooting

Many organisations these days are facing difficult, sometimes urgent, financial circumstances. We can help by providing:

  • An independent high-level assessment of the situation
  • Analysis of future cash-flows and associated risks
  • A time-tabled plan of action and communications
  • Reassurance to funders and creditors
  • Dedicated attention to the problem, without other daily distractions