Launchpad to success

It has been said that I take a maverick approach to funding, subsidy and survival. When I joined Cockpit Arts in 2002, I brought with me a desire to see change in the craft sector. I felt strongly that whilst this country was at the forefront of creativity, little had been done to develop the capacity of talented designer-makers to make a proper living from their practice. I therefore proposed that we transform Cockpit from a managed workspace into a ‘creative business incubator’ – a tailored programme designed to accelerate development of businesses through support resources and services.
At the outset, the idea was to develop a social enterprise model to reduce reliance on unstable funding sources; widen the fundraising mix and develop more stable earned income. The vision was to support the most creative contemporary craft talent by incubating start-ups and helping established designer-makers take their businesses to the next stage of growth. The business incubator strategy was critical in developing the capacity of designer-makers to pay us higher fees (although still below commercial rates), which in turn would enable Cockpit to achieve financial self-sufficiency.
 

Eight years on and Cockpit is a fully fledged social enterprise, and the UK’s only creative business incubator for designer-makers. Last year our clients reported an average 158% increase in profit. We have been able to close our funding gap, not only via incubator fees but also through earned income from consultancy and other fee-paying services. Fundraising targets have reduced year on year, from 40% (£250,000) of our income to 5% currently, with surpluses forecast in a year’s time. We aim to use this surplus to broaden our offer to disadvantaged groups, without recourse to the public purse. Our pilot ‘Creative Careers’ programme with Head for Business CIC has helped ten young people not in education, employment or training (NEETs) to get their first foothold on the crafts career ladder.
We believe that the ability to raise a large proportion of our income internally has helped us enormously in our search for investment. Not only do funders feel they are investing in a sustainable business model and an organisation that is contributing to society, but we are also able to enter into a discussion about how social and business objectives can be met through social enterprise. Key to the success of the strategy has been clear vision; a long-term approach to implementing change management to effect positive culture change; a development plan for funders providing constant additionality; close involvement of the board at a practical level; focus on core competences; commercialisation of core competences; and clear outcomes and impact measurement.
Our activity has not only enabled Cockpit to achieve growth in our clients’ businesses and financial independence for the organisation, but also enhanced our profile. We are now working with other arts organisations helping them to take an entrepreneurial approach to generating income, and believe that in doing so they may be better able to achieve their mission.