Running a creative company in the digital age

LUCY BAXTER RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE creative essentials Running a Creative co-v2.indd 2/7/17 5:07 PM C Running a Creative co-v2.indd 2/7/17 5:07 PM creative essentials Running a Creative co-v2.indd 2/7/17 5:07 PM First published in 2017 by Kamera Books an imprint of Oldcastle Books, PO Box 394, Harpenden, Herts, AL5 1XJ www.kamerabooks.com Copyright © Lucy Baxter 2017 Series Editor: Hannah Patterson The right of Lucy Baxter to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988 All rights reserved No part of this book may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without the written permission of the publishers Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages A CIP catalogue record for this book is available from the British Library ISBN 978-1-84344-926-3 (Print) 978-1-84344-927-0 (epub) 10 Typeset by Elsa Mathern in Franklin Gothic 9 pt Printed and bound by CPI Group (UK) Ltd, Croydon, CR0 4YY Running a Creative co-v2.indd 2/7/17 5:07 PM CONTENTS Introduction PART ONE: GETTING STARTED 11 ​ Your USP 13 • • Setting Up Your Limited Company; Business Partnerships; Company Legal Structures 35 • HMRC Comes Calling! 64 • Start-up Funding in the Digital Age 92 • Premises, Budgets and Cash flowing 142 PART TWO: HIT THE GROUND RUNNING 159 ​ Publicity and Advertising 161 • • Pitching for Business 175 • Your First Project 214 PART THREE: GROWTH AND MOVING ON 227 ​ Growth Strategies and Funding 229 • • Don’t Be Afraid of Change: Winding Up and Moving On 256 Resources 265 Appendices 271 Index 316 Running a Creative co-v2.indd 2/7/17 5:07 PM Running a Creative co-v2.indd 2/7/17 5:07 PM INTRODUCTION I chose to call this book Running a Creative Company in the Digital Age, rather than Running a Production Company or Running a Digital Agency, because the concept of what a ‘creative’ company is, and what it does, has become much more fluid in the last ten years As the digital age beds in, entirely new ways of working and creating have evolved Traditional models of ideas generation, collaboration, funding, production, distribution and consumption are disappearing or morphing into something else These new ways have been built from a truly digital native foundation, rather than with one foot in the old world of analogue and hard copy This means they are unprecedented, unpredictable and exciting as well as a bit scary for anyone who grew up with more traditional models – which means pretty much anyone over 35 who isn’t involved in digital innovation already The landscape of work is changing, too, with more flexible working cultures and structures emerging, and large corporations hoovering up smaller rivals and promising start-ups in a bid to secure their global content kingdom The focus of the book is primarily on digital visual content, meaning digital video, animation, film and TV and to a lesser extent gaming and creative tech Some of what is covered may also be true across the worlds of publishing, social enterprise, live performance and music I generally use the term ‘content’ rather than referring specifically to TV programmes, films, business promos or campaign videos, because so many of these things overlap in the digital space Running a Creative co-v2.indd 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE My background is in independent film and TV drama initially, then factual content including documentaries, specialist factual, news and current affairs, digital education projects, new talent and promos for brands and businesses, so much of what I talk about will be directly relevant to these areas I have tried to maintain a wider overview when possible, though, precisely because the lines are so blurred these days The digital revolution has created a landscape where collaboration is widespread and innovation so prolific that when starting up a creative company you could find yourself working within the arenas of digital technology development, artificial intelligence, virtual reality, biotech or gaming as part of any wider creative project I also wanted to write a nuts and bolts guide to setting up and running a creative company that can be a one-stop shop for aspiring creative entrepreneurs, because it seems to me that such a guide is sorely needed It’s something I could definitely have used when I was starting out, full of ideas and ambition but blissfully unaware of the potential pitfalls! Although I learned a lot from running my small production company, Mandrake Films, for eight years, it was mostly on the job with a lot of trial and error, and cobbled together from different and frequently baffling sources Wading through the incomprehensible jargon and doublespeak of officialdom and having surreal, contradictory conversations with different government departments was a dominant feature of the early years; perhaps this book will save others that considerable pain and frustration As digital content production becomes cheaper and more accessible, it’s becoming more attractive, and theoretically more possible, to things your own way But many creative endeavours end up stalling because they lack the foundation in business administration, finance, company legals and market awareness needed to give ideas a chance Ambitious, talented creatives often burn out and feel frustrated because they can’t get things off the ground, without realising they need some basic knowledge and training to make a company work and to partner up with others who have the skills and interests they Running a Creative co-v2.indd 2/7/17 5:07 PM INTRODUCTION lack Similarly, those with business, legal or finance training often view creatives as ‘other’ from them, or exclude them from important processes Other industries are aware that such training and structure is essential as a starting point but many of the ‘creative industries’ seem to be somehow exempt from this, as though what we are doing is in the realms of the amateur rather than the professional I think this has often led to casual exploitation of hard-working filmmakers, artists, musicians, ideas generators and writers by those who are gatekeepers and therefore have the power to marginalise them, or simply have the training to control the purse strings and write the contracts Often key creatives are not paid enough to make a living, and that is not acceptable when they contribute so much to our creative economy The three parts cover the life cycle of a company from setting up and kicking off through growth and diversification and finally selling, merging, buying up or moving on For the most part I am referring to a private limited company incorporated by shares, although part one outlines other company structures such as LLPs and non-profit companies, and a lot of the information contained in this book can also be applied to them Part one looks at company identity and structure, executive roles, paying yourself, shareholders and boards, start-up funding and all the nitty-gritty practical things you need to consider in the first year of running your business Part two covers topics such as publicity and advertising, dealing with staff, pitching for business, running your projects and whether or not it’s actually possible to protect your ideas Part three is all about growth, maturity and working out what the best future for you and your company might be Throughout are case studies from a range of creative companies and interviews with media lawyers and accountants, company MDs, the founder of Crowdcube, the CEO of an investment fund, international broadcasters, pioneers in flexible working and the head of the Channel Growth Fund, all of whom have their own take on what being a creative company today is all about Running a Creative co-v2.indd 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE 3.1.6 the Grantor shall not disclose any confidential information concerning the business of the Producer or the contents of this Agreement; 3.1.7 If the television programme/film is commissioned, the Grantor shall indemnify the Producer against all claims, costs (including reasonable legal costs) awards, damages, actions and proceedings incurred by the Producer as a result of any breach by the Grantor of any of the Grantor’s obligations contained in or implied under this Agreement NO OBLIGATION TO EXPLOIT Nothing in this Agreement shall impose upon the Producer any obligation to exercise the Option or to produce or exploit the Production The Producer shall not be liable to the Grantor in respect of any loss of publicity or reputation arising from this Further the Producer warrants that they are a member of PACT 4.1 Governing Law This Agreement shall be governed by and construed in accordance with the Laws of England whose courts shall have exclusive jurisdiction Signed by or on behalf of the Parties on the date appearing at the beginning of this Agreement Signed on behalf of the Producer Signed by the Grantor 306 Running a Creative co-v2.indd 306 2/7/17 5:07 PM APPENDIX DEED OF ASSIGNMENT Date: DEED OF ASSIGNMENT THIS DEED OF ASSIGNMENT hereby confirms that X (herein after known as the ‘Grantor’), of X hereby grants and assigns the following rights as outlined in this deed over to X, (hereinafter known as the ‘Producers’), X, under the following terms and conditions:1 Upon receiving payment, as herein agreed under clause 6, the Grantor hereby sells, grants, conveys and assigns the Producers, their successors, licensees and assigns, exclusively and forever, all documentary and drama documentary film rights, and including all television documentary and drama documentary film rights, and all video distribution, rental and sales rights, DVD distribution, rental and sales rights, internet rights, interactive and game rights, remakes, sequels and subsidiary, derivative and ancillary rights throughout the world, in and to the Property and in and to the copyright of it and all renewals and extensions of copyright of the Property This extends to include copyright in the US The Producers hereunder (without in any way limiting the grant of rights hereinabove stated) are granted the following exclusive rights throughout the world: (i) to make, produce, adapt and copyright one or more documentary or drama documentary films, adaptations, whether fixed on film, 307 Running a Creative co-v2.indd 307 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE tape, disk, cassette or through any other technical process whether now known or from now on devised, based in whole or in part on the Property, including remakes and sequels to any documentary feature film produced hereunder; (ii) and to record and reproduce and license spoken words taken from or based upon the Property and any kinds of music, musical accompaniments and/or lyric to be performed or sung by the performers in any such film; (iii) to exhibit, perform, rent, lease and generally deal in and with any documentary drama documentary film produced hereunder; by all means or technical processes whatsoever, whether now known or from now on devised including, film, tape, disc, cassette, television or otherwise; and anywhere whatsoever, including homes, theatre or elsewhere, and whether a fee is charged, directly or indirectly, of viewing of such a film; (iv) to broadcast, transmit or reproduce the Property (including without limitations any film produced hereunder and/or any script or other material based on or using the Property), by means of television and any process analogue or digital thereto whether now known or from now on devised; and the exclusive right to exercise for television purposes all rights granted the Producers hereunder for film purposes (v) to use and exploit any merchandise and recordings of any sort and nature arising out of or connected with the Rights of the Property (vi) to use and exploit the rights for any purpose of advertising and/ or publicity in any manner whatsoever RIGHTS TO MAKE CHANGES The Writer agrees that the Producers shall have the unlimited right to vary, change, alter, modify, add to and/or delete from the Property, and to rearrange and/or transpose the Property and change the sequence of it and the characters and descriptions of the characters contained in the Property, and to use a portion or portions of the property or the characters, plots, or theme of it with any other literary, dramatic, or other material within the documentary or drama documentary The Writer hereby waives the benefit of any provisions of moral rights (droit moral) anywhere in the world and agrees not to permit or 308 Running a Creative co-v2.indd 308 2/7/17 5:07 PM APPENDICES prosecute any action of lawsuit on the ground that the documentary or drama documentary feature Film or other version of the Property produced or exhibited by the Producers, their assignees or licensees, in any way constitutes an infringement of any of the Writer’s moral rights or is in any way a defamation or mutilation of the Property or any part of it or contains unauthorised variations, alternations, modifications, changes or translations DURATION AND EXTENT OF RIGHTS GRANTED The Producers shall enjoy, solely and exclusively, all the rights, licences, privileges and property granted hereunder throughout the world, in perpetuity, as long as any rights in the Property are recognised in law or equity, except as far as such period of perpetuity may be shortened due to any now existing or future copyright by the Writer of the Property anywhere in the world, in which case the Producers shall enjoy its sole and exclusive rights, licences, privileges and property hereunder to the fullest extent permissible under and for the full duration of such copyright or copyrights, and any renewals and/or extensions of it All rights, licences, privileges and property granted herein to the Producers are irrevocable and not subject to rescission, restraint or injunction under any circumstances CONSIDERATION FOR THE RIGHTS As consideration for all rights granted and assigned to the Producers and for the Grantor’s representation and warranties, the Producers agree to pay the Grantor, and the Grantor agrees to accept the sum of X The payment of this sum shall be made as soon as sufficient development funds have been raised by the Producers, unless the Producers shall fail to exercise the Option before the expiration date in which case the rights herein shall revert immediately to the Grantor The Grantor shall receive payment of this sum by a cheque made out in his name and sent to his home address 6.1 As consideration for all rights granted and assigned to the Producers and for the Grantor’s representation and warranties, the Producers agree to pay (or procure the payment of) four per cent (4%) of one hundred per cent (100%) of the total net profits received from the distribution, exhibition and exploitation of the Film and any remakes or sequels of the Film, to the Grantor and ‘net profits’ and the entitlements 309 Running a Creative co-v2.indd 309 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE thereto shall be defined, calculated, reported and payable to Grantor on terms at such times and on a basis no less favourable than any other participant in net profits of the Film CREDIT OBLIGATION The Producers shall have the right to publish, advertise, announce and use in any manner or medium, the name, biography and likeness of the Grantor in connection with any exercise by the Producers of its rights hereunder, provided such use shall not constitute an endorsement of any product or service The Grantor shall be accorded the following credit on screen and in paid ads controlled by the Producers in which the producers and/or Film director is accorded the credit: Based on the Novel by Roderic Knowles Additionally, if the Producers exploit any other rights in and to the Property, then the Producers agree to give appropriate source material credit to the Property, to the extent that such source material credits are customarily given in connection with the exploitation of such rights ASSIGNMENT 10 This Agreement and the rights herein stated and benefits thereof may be assigned by the Producers to any other person, association, firm or corporation, upon mutual agreement with the Grantor while the film is in development and pre-production 10.1 The finished film may be assigned by the producers to any other person, firm or corporation 11 The Grantor represents and warrants to the Producers that the Grantor is the sole and exclusive proprietor, throughout the world, of the original literary material written by Roderic Knowles entitled X (the ‘Property’) 12 The Grantor represents and warrants to the Producers that:i The Grantor is the sole author of the Property ii The Property was first published in x under the title of X, and was registered for copyright under the name of Roderic Knowles 310 Running a Creative co-v2.indd 310 2/7/17 5:07 PM APPENDICES iii No documentary film of the Property has been manufactured, produced, presented or authorised, no radio or television development, presentation, or programme based on the Property, or any part of it, has been manufactured, produced, presented, broadcast or authorised 13 The Grantor represents and warrants to the Producers that:i The Writer has not adapted the Property from any other literary, dramatic, or other material, nor, excepting for material which is in the public domain, has the Writer copied or used in the Property the plot, scenes, sequences or story of any other literary, dramatic or other material; ii The Property does not infringe upon any common law or statutory rights in any other literary, dramatic, or other material; iii As far as the Writer/Grantor has knowledge, no material in the Property is libellous, defamatory, or violates the rights of privacy of any person and the full use of the rights in the Property which are covered by and within the Option would not violate any rights of any person, association, firm or corporation; iv The Publishers of the Property have no interest or claim in the rights; v The Property is not under public domain in any country in the world where copyright protection is available 14 The Grantor represents and warrants to the producers that:i The Grantor is the exclusive proprietor, throughout the world, of the rights in the property which are covered within the option; ii The Grantor has not assigned, licensed nor in any manner encumbered, diminished, or impaired any of the rights herein granted; iii There is no outstanding claim or litigation pending against or involving the title, ownership and/or copyright in the Property, or in any part of it, or in the rights which are covered by the Option 15 The Grantor further represents and warrants that no attempts hereafter will be made to encumber, diminish or impair any of the rights herein 311 Running a Creative co-v2.indd 311 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE granted and that all appropriate protection of such rights will continue to be maintained by the Grantor 16 The Grantor agrees that the Grantor will not, at any time during the Option Period, exercise or authorise or permit the exercise by others of any of the rights covered by the Option 17 None of the rights herein granted and assigned to the Producers have been granted and/or assigned to any person, association, firm or corporation other than the Producers By signing in the spaces provided below the Grantor and the Producers accept and agree to all of the terms and conditions of this Agreement Signed by on behalf of X: Signature Name (printed) Signed by the Grantor: Signature Name (printed) Date 312 Running a Creative co-v2.indd 312 2/7/17 5:07 PM APPENDIX STANDARD COLLABORATION AGREEMENT COLLABORATION AGREEMENT This collaboration agreement (the ‘Agreement’) is made and entered into as of DATE, by and between COMPANY NAME and/or its designees and/ or licensees (‘X’), on the one hand, and *****, on the other hand, with respect to the development, production, and the grant of exclusive rights in a documentary-style programme to be developed for short-form electronic transmission (Internet, mobile, etc.), a broadcast and/or cable television series, one or more feature films and any and all other means of commercial exploitation of a show revolving around **** For good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), X and **hereby agree as follows: X and ** shall collaborate in the development of a television pilot and/ or series based on the Concept (‘Pilot’ and ‘Series’, each a ‘Project’) with the working title X The parties agree that X shall exclusively control the Concept with respect to any sale, option, license and/or other disposition of any and all rights in and to the Concept (the ‘Disposition’) and shall have the exclusive right to pitch/shop the Concept to potential Financiers (as defined below) and to negotiate any and all deals relating to the Concept and/or any program based thereon, subject to the terms hereof In the event that X accepts a firm written commitment from 313 Running a Creative co-v2.indd 313 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE any third party network, studio, or other buyer or licensee (collectively, ‘Financier’) for the development or production of a Pilot and/or Series within the period commencing as of the date of full execution hereof and continuing for one (1) year (‘Development/Pitch Period’), then the terms of this Agreement shall apply In the event of a Disposition hereunder, the Development/Pitch Period shall be extended for the length of the Financier’s development period not to exceed six (6) months, plus ninety (90) days to set the Project up elsewhere if such development period expires without a production order If a Disposition is not made within the Development/Pitch Period (as it may be extended), then the parties shall have no further obligation to each other hereunder, but shall nonetheless retain their respective rights in the Concept and any of the material contributed to the development thereof The parties agree that in the event of a Disposition of the Concept within the Development/Pitch Period, X (or its authorized designee) shall be attached as the production company and copyright owner of the Concept and any Project(s) The parties agree that in the event of a Disposition of the Concept within the Development/Pitch Period, X shall be shall be attached as executive producer and accorded credit as executive producer, X will be attached as co-director and X …… as Associate Producer X will negotiate all agreements with third parties X shall not have the right to proceed with the further development, production, distribution and/ or other exploitation of the Concept and/or Project until ** gives his full and complete approval to the terms of its agreement(s) In the event X produces the Pilot and/or Series, all executive producer fees, royalties, payments for rights, and related contingent compensation payable to the parties shall be allocated as follows: X ** -% -% Any and all costs incurred by X and ** in connection with the Concept and/or Project shall be recouped ‘off the top’ prior to any payments to the parties pursuant to the above allocation All creative and business decisions, including, without limitation, any and all agreements (other than as set forth in paragraph 3) with the Financiers, shall be made by X following consultation with ** X and ** shall have mutual approval over the creative decisions, however, X final decision shall control 314 Running a Creative co-v2.indd 314 2/7/17 5:07 PM APPENDICES ** hereby makes all customary representations and warranties with respect to their contributions to the Concept and/or Project X hereby makes all customary representations and warranties with respect to their contribution to the Concept and/or Project All disputes which may arise between X and ** under or with respect to this Agreement shall be determined solely by arbitration in accordance with the rules of the American Arbitration Association, applying California law The arbitration shall be held in Los Angeles, California, and the cost thereof, including reasonable attorneys’ fees, shall be borne by the party which does not prevail therein Such determination by the arbitrators or by the sole arbitrator, whatever the case may be, shall be final, binding, and conclusive upon the parties hereto, and shall be rendered in such form that it may be judicially confirmed under the laws of XXX ** agrees to execute and deliver to X all documents or any acts which X reasonably deems necessary and which are consistent with this Agreement (subject to a reasonable period for review and good faith negotiation) 10 This Agreement shall be construed, interpreted and governed by the laws of XXX IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above X By: Authorized Officer X X *************** 315 Running a Creative co-v2.indd 315 2/7/17 5:07 PM A accelerators and incubators, 92, 98, 107–112, 131, 135, 139, 141 accountants, 9, 28, 46, 60–1, 64, 66, 71–3, 75, 78, 80–1, 84, 87, 101, 125, 236–7, 241, 243, 246, 256–7 administration, 262 apprenticeships, 217 artificial intelligence, 8, 109, 167, 173 B bank overdrafts and loans, 28–9, 54, 78–9, 82–3, 132, 155, 243, 261, 263 blogging, 164–5 board of directors roles, 37–42, 44, 236, 238, 244 bookkeeping, 46, 64, 72–3, 75, 78, 80, 85, 87, 154, 238, 256 Brexit, 10, 45, 70, 83, 90, 124–6, 239, 268 broadcasters, 9, 14, 16, 22, 25, 62, 85–6, 91, 104, 122, 126, 132, 167, 175–6, 179, 182–5, 190–1, 193–5, 198–9, 202, 204–6, 209–11, 221, 231, 251, 254 budget drawdown, 82, 182, 215 budgets, 32, 39, 71–4, 82, 86, 95, 99, 115, 118, 142–3, 150, 156–7, 168, 177, 181–5, 191, 193, 197–9, 200, 214–5, 223 business angels, 92, 97, 110, 120, 138–9, 235–6, 240–1 business plan, 94–5, 104, 113, 116, 121, 123, 131, 139, 236, 238, 241, 246, 252 buying a business, 87–90, 230, 232, 242–4 buying/setting up a company, 9, 35–53 C cash flow, 68, 71, 83, 85, 90, 102, 136, 142–3, 154–6, 183, 222, 233, 238, 248, 252, 256 childcare, 24, 25, 77, 150, 267 cloud storage, 215, 218 Companies Act, 43, 45, 50, 52 company consolidation, 179, 231 compulsory liquidation, 263 consolidation – production companies and digital agencies, 179, 230–2, 255, 270 corporate partnerships, 115 corporate voluntary arrangements, 261 316 Running a Creative co-v2.indd 316 2/7/17 5:07 PM INDEX criminal activity, 48, 52 crowdfunding, 92–3, 96–7, 106, 113, 116–9, 120–4, 184, 202, 209, 230, 240, 267 D digital agencies, 7, 14, 24, 40, 86, 157, 178–80, 210–12, 230–1, 255 digital native, 7, 14, 96–7, 161, 165, 168 digital PR, 167 digital revolution, beginnings, 8, 176–9 digital switchover, 177 directors, how they are affected (liability), 39, 46–7, 54, 60, 83 distribution, 7, 85, 104, 106, 125, 135–6, 155, 163, 172, 178, 179–86, 188, 199–200, 202, 207–8, 210, 238 diversity, 22–5, 107, 198, 217, 238, 251 dividend tax credit, 68–9 dividends, 55, 66–9, 71–2, 75, 99, 237, 266 Dubbins, Jake, Media Bounty – Interview, 28 duties, 38, 42–5, 48, 265–6 E education, 8, 15, 19, 21–2, 53, 110, 163, 179–81, 193, 195, 205, 223, 264–5 employment status, 69–71, 74, 76, 217 EU funding, 103–5, 114, 124–5 experience level, 13–14 F festivals, 16, 162, 171–3, 180, 201–3, 206 flexible working, 7, 9, 70, 142, 149, 152–3, 268 founding principles, 13, 17–20 Franses, Laura, C4 Growth Fund – Interview, 231, 240 freelance or permanent staff, 14, 20–2, 25, 60, 69, 70–1, 73–4, 76, 118, 129, 133, 150, 157, 169, 214, 222, 258 G government funding and lending schemes, 92, 101, 103, 107, 119, 138, 243 growth funding, 9, 88, 91, 104, 193, 204, 231, 240, 246, 253–5 H Halperin, Clive, media lawyer – Interview, 54 holiday pay, 77 hot–desking, 143, 144, 148 I independent production company (indies), 180, 193, 197, 200, 204, 208, 211–2, 231 Initial Public Offering (IPO), 88, 230, 244 insurance, 148, 155, 216, 238 introverts, 162, 173–4, 268 J job shares, 152 317 Running a Creative co-v2.indd 317 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE L legal structures, 35, 65, 122 Leith, Steve, Grant Thornton Accountants – Interview, 84 liabilities, 39, 40, 44, 57, 66, 81, 266 limited liability partnerships, 9, 36, 51, 54, 81, 125, 266 liquidator, 260–1, 263 M market norms, salary, 223 maternity and paternity pay, 45, 70, 76, 267 Memorandum and Articles (of Association), 35, 41, 43–5, 48–50, 58, 266 merging, 9, 50, 211, 230, 232–3, 235, 239–40 Mini Screen Pictures – Interview, 126 monetising online, 61–2, 128, 186–7 N names and trademarks, 35–7, 47, 50, 52, 165, 208, 265 networking, 20, 24, 27, 98, 105–6, 112, 130, 162, 168–74, 206, 239, 242, 248, 257, 264, 269 non-profit structures, 9, 46, 51–2, 94, 178, 264 O office premises, 142–8, 151, 157, 176, 216, 234, 237, 243, 248, 257–8, 268 online presence, 36, 56, 162, 164, 168 open–plan – problems, 143, 147, 216 organisational structure, 7, 21, 23, 26–7, 35–6, 43, 266 P partnerships, 20, 22, 35, 43–4, 51, 122–3 PAYE, 39, 46, 51, 64, 66–7, 70–4, 76, 88, 214, 222, 258 paying yourself, 9, 67, 69, 72, 259 pensions, 47, 59, 88, 217, 223 platforms, 14, 19, 28, 33, 42, 86, 91–3, 96–7, 101–2, 106–7, 112–3, 116, 118–21, 123, 125, 127–30, 132, 135–6, 161–3, 168, 173, 175, 176–81, 184–7, 195, 190, 192, 194–5, 197–9, 201–3, 206, 215, 218, 229, 231, 240, 254–5, 267 private investors, 21, 39, 98,156, 176, 199, 230, 242, 247 private limited company (PLC), 9, 36–7, 265 project management, 14, 80, 216, 219–20, 238 protecting your idea, 9, 54, 63, 186, 208–9 public funding, 92, 155, 175–6 R Real Time Information (RTI), 67, 72, 74–5 registering your business, 35, 37, 65–7 318 Running a Creative co-v2.indd 318 2/7/17 5:07 PM INDEX returns (on investment), 89, 91, 121, 247 S salary, expenses and benefits, 17, 20, 45, 52, 55, 66–7, 69–74, 76–7, 80, 82, 105, 153–5, 216, 222–3, 238, 258–9 second screen functionality, 62 Self Assessment, 46, 51, 65, 74, 81 selling your company, 9, 59, 87, 230, 233, 238, 243 service agreements, 44 shareholders, 9, 37–8, 43–4, 46–50, 54–9, 67–9, 72, 78–9, 99, 133, 230, 236–7, 257–8, 260, 263, 266 sick pay, 70, 77 skills needed, 8, 14, 19, 31, 52, 106, 110, 133, 141, 232, 236, 256, 264 social influencers, 164–5 Spindler, John, Capital Enterprise and London Co–Investment Fund – Interview, 134 strike–off, 257–8, 261, 270 T taking money out of a company, 66, 69 talent, 14, 88, 90, 165, 179, 209, 222–4, 229, 254 tax, 39, 46, 51–4, 59, 64–9, 71–2, 74–5, 77, 79–81, 84–6, 88, 98–101, 115, 155–6, 176, 188, 242, 245, 258, 266 U university innovation funds, 108, 114, 134 USP, 13, 20–22, 161–4 V VAT, 39, 64–5, 78, 88, 155–6, 239, 258–9, 267 venture capital, venture philanthropy, 53, 97–8, 107, 112, 120, 124, 139, 231–3, 235–6, 240 virtual reality, 8, 96, 106, 117, 166, 167, 168, 173, 178 voluntary liquidation, 257, 259, 270 W warehousing, 209, 230, 233–4 when clients won't pay, 221–2 when to set up, 14, 22–3 workflow, 20, 144, 151, 217 working hubs, 142, 147–8, 268 319 Running a Creative co-v2.indd 319 2/7/17 5:07 PM About Us In addition to Creative Essentials, Oldcastle Books has a number of other imprints, including No Exit Press, Kamera Books, Pulp! The Classics, Pocket Essentials and High Stakes Publishing > oldcastlebooks.co.uk Checkout the kamera film salon for independent, arthouse and world cinema > kamera.co.uk For more information, media enquiries and review copies please contact Clare > marketing@oldcastlebooks.com Running a Creative co-v2.indd 320 2/7/17 5:07 PM ... of these things overlap in the digital space Running a Creative co-v2.indd 2/7/17 5:07 PM RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE My background is in independent film and TV drama initially,... Running a Creative co-v2.indd 2/7/17 5:07 PM INTRODUCTION I chose to call this book Running a Creative Company in the Digital Age, rather than Running a Production Company or Running a Digital. .. BAXTER RUNNING A CREATIVE COMPANY IN THE DIGITAL AGE creative essentials Running a Creative co-v2.indd 2/7/17 5:07 PM C Running a Creative co-v2.indd 2/7/17 5:07 PM creative essentials Running