The Cultural Development Fund (CDF) unveiled today its latest non-financial services “vouchers”, in an effort to support businesses and entrepreneurs in the cultural sector in the Kingdom.
Through this service, CDF aims to develop business management practices in the sector and alleviate financial burdens associated with establishing and operating cultural businesses. The service will allow entrepreneurs to focus on their creative endeavors, providing them with the necessary support through leveraging external financial, legal, technical, and technology-based expertise to transform their creative potential into successful business models, which ultimately helps enhance their eligibility for funding.
The launch of “vouchers”, which comes as part of the strategic partnership between CDF and the General Authority for Small and Medium Enterprises (Monsha’at), is geared towards entrepreneurs in the cultural sector to minimize startup and operational costs and enhance the growth and sustainability of their businesses.
The “vouchers” offers a variety of services including conducting feasibility studies, preparing certified financial statements, reserving office spaces, having legal support, creating a brand identity guide, and developing website. The service can be accessed through the CDF’s official website.
Notably, CDF launched its inaugural non-financial service, the “consultation” service, in late December. This was followed by “training” services at the outset of this year, which featured workshops and panel discussions led by international and local cultural sector entrepreneurs to stimulate knowledge sharing between successful business owners and creatives, which can ultimately result in enhancing the quality of cultural outputs.
