Accelerating Artistic Success: How Artists Can Benefit from Small Business Accelerators

With UK artists earning less than 36% of their incomes from their art practice¹ it’s time to change the conversation around creative business. As artists we often find ourselves financially propping up our art practice with a range of part-time or freelance employment opportunities.

What if you could make all of your money from your art practice?

The very first step on the road to generating more from your art is to start thinking of your creative practice as a small business.

Small business accelerators are typically associated with startups or tech, but they are really geared towards all entrepreneurs, including artists. This post explores way artists can leverage small business accelerators to their advantage.

We’ll cover what an Accelerator Programme typically entails, where your business needs to be before you apply and also touch on my own experience over the past six months with the NatWest Accelerator.

black quote text on purple and white background The lowest-paid workers in the UK’s public art sector are often those who create the art.Scott Reyburn, The Art Newspaper, 16 May 2023

The lowest-paid workers in the UK’s public art sector are often those who create the art.
Scott Reyburn, The Art Newspaper, 16 May 2023

Without an income no artist can continue. Let that sink in.

Why do it?

When you take the decision to invest in upskilling yourself and treating your art practice as a business you open yourself up to new opportunities to collaborate, learn and ultimately increase your income.

Here are some of the reasons to join a small business accelerator:

Access to Resources:
Working on your own can leave you feeling under resourced and overwhelmed. Accelerators provide resources from mentorship, networking and access to funding and workspace. It puts you into an ecosystem with experts, business advisors and potential collaborators.

Something I found helpful was the office space access, it meant that I dedicated a full day a week to all the business parts of being an artist, without the distractions of the studio.

2. Business Development Skills:

Times are changing yet the stereotype of an artist who spends all day in the studio creating can still shape our collective subconscious. Creating work is addictive, to the point where you might feel yourself shying away from gaining the business skills necessary to succeed as an artist.

Accelerators come with workshops, tailored programs and business upskilling opportunities. Whether you need to start marketing your artwork, manage the finances better or plan more strategically an accelerator will give you those tools to build your business.

You’re making creative decisions every day on how to move your art practice forward, the business development side allows you to also move your business forward.

3. Exposure and Visibility:

Some accelerator programs culminate in showcase events and presentations. They offer pitching experiences to investors and open doors to new opportunities. Imagine being able to pitch confidently to investors and get funding to cover that large project you’ve always dreamed of.

https://youtube.com/watch?v=95qpOpEL_rw%3Fsi%3Db_87Zajuh-1evxWa

Sculptor Guy Portelli pitching to Dragon’s Den in 2009 and receiving more than he asked for to create sculptures for a Mall Galleries exhibition.

4. Collaborative Environment:

This cannot be emphasised enough. Collaborate, create Collaborate.
Small business accelerators foster a collaborative environment where artists can connect with peers from diverse backgrounds and disciplines. Collaborating with other entrepreneurs within the accelerator can lead to innovative ideas, cross-disciplinary projects, and mutually beneficial partnerships.

As an artist we gravitate towards other artistic types. Joining a business minded cohort gives you a fresh perspective, insights and enriches your artistic practice as it grows your business.

5. Long-Term Sustainability:
You don’t want to be an artist just for a while right? This is your long term dream. Maybe you’ve spent years working full time to get to the stage of making part-time. Wherever you’re at, focusing on long-term sustainability in your art practice is key.

Once you learn how to manage your finances, market your work and build a resilient business you’re giving yourself permission to succeed in an everchanging, often challenging world.

Moreover, the relationships you make with other businesses will provide you with ongoing support and opportunities to grow and succeed, long after the accelerator ends.

artist on purple background with easel thinking about what to do next

What stage do I need to be at to optimise the Accelerator Experience?

Before you apply for an Accelerator Programme it’s important to make sure you’re ready to take this step and commit to the process.

Ask yourself:

Do I make regular sales (either products or services) in my art practice?
Am I ready to expand my reach and take on more clients / projects?
What do I want to achieve? It could be scaling up the business in order to take on employees, accessing new markets or attracting investment. Be clear on what you want out of the process before you start it.

The businesses that seemed to flourish the most during the NatWest Accelerator Programme I joined were ones that went in with an existing client base, proven sales records and time to invest in actioning the programme learnings.

My Experience with NatWest Accelerator

The past six months have massively changed my mindset with regards my art business. Joining the Accelerator has connected me with other local businesses, entrepreneurs and skilled people.

My key take aways are:

Talk to as many people as possible, everyone has something to teach you
Collaboration opportunities are there even with non-arts businesses, for example I’m collaborating with health and finesses businesses from the cohort on the Sudden Cardiac Art project.
Focus on figures, much as I resent having to even open Excel the numbers don’t lie. They tell you where the business is sitting, how much cash there is to invest in new areas and whether a marketing campaign has worked or not.
Put yourself out there. People don’t know who you are or what your art business does until you tell them! Being open about what you create and why is hard, I keep reminding myself why I create and why those stories need to be told.

We’ve covered what an Accelerator Programme typically entrails, some things to consider before applying and the most useful parts from my perspective having finished a six month programme.

Have you taken courses, joined an Accelerator or business hub to expand your art business? If so drop me an email or DM me on Instagram. I love hearing your stories.

REFERENCE LINKS

Entrepreneur Accelerator | NatWest