The arts industry is often overlooked when it comes to strategic financial planning. In part that’s due to its non-traditional business model, one where income fluctuates dramatically from year to year and a “steady paycheck” is rarely the norm. One year may require taking on debt to work on a project, the next year may bring a successful sale netting upwards of $300,000 or more.
It’s success that can catch many artists or art dealers off guard—often with a hefty and unexpected tax bill. And because most of these individuals work as independent freelancers or sole proprietors, with little time to properly organize their finances, they are often unprepared to face the challenges of becoming a successful and profitable player in the art world.
Creative Business Inc. is uniquely positioned to help these emerging artists succeed not only as artists, but also as entrepreneurs. Tipping Point, our new emerging artists program, is a tailored service targeted at up-and-coming artists, galleries, art advisors, and artistic nonprofits in need of financial mentoring and simple strategic planning.
- Financial and tax planning
- Review and setup of financial systems
- Quarterly bookkeeping services
- Connection to a network of advisors, attorneys, and CPAs
- Recommendation and review of insurance policies
- Assessment of administrative team
- Assistance with reducing debt responsibly
Tipping Point is open to artists, galleries, and other art industry businesses making an annual gross revenue of $400,000. A nominal monthly fee for services applies. To inquire, please contact firstname.lastname@example.org with the subject “Tipping Point.”
About Creative Business
With a background in fine arts combined with an astute business acumen, Jeanne Hardy established Creative Business Inc. in 2005 after realizing the growing need for financial literacy in the art world. She has since helped countless artists, galleries and art dealers to successfully grow and achieve long-term financial sustainability.
Learn more about Creative Business Inc.'s areas of expertise and specialties.