Increasingly, Arts & Culture Organisations in the UK are actively exploring innovative business models and income generation strategies to assure their long-term sustainability. The museums sector is looking to take a lead in this discussion, facilitated by the Museums, Libraries and Archives (MLA) Council, the government agency providing strategic leadership for the sector.
Many museums possess an enormous amount of relatively untapped potential to develop new revenue streams through improved and smarter use of their cultural assets. However, in an increasingly competitive leisure and education market, museum leaders and policy makers must become more entrepreneurial in their approach so that they can recognise and exploit new business opportunities.
In order to enable the ongoing development of the sector, MLA West Midlands (MLAWM) has commissioned Culture Label to undertake a major research project on how ‘entrepreneurial museums’ should look, function and act. This work is funded by Renaissance and will form the foundation from which the region can begin to develop its museums as viable cultural assets that understand their potential and are enabled to realise it.
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