TIGA calls on the Government to make TAP funding more accessible
TIGA, the network for games developers and digital publishers, and the trade association representing the video games industry, has called on the Government to improve the video games industry’s access to trade shows around the world.
The Government currently provides Trade Access Programme funding, which supports businesses who can benefit from attending trade shows, which boost links with businesses and consumers in emerging and lucrative markets.
In its submission to the Government’s Export Strategy, TIGA warned that TAP funding is often insufficient or inaccessible to many video games companies. It urged the Government to provide better support to the video games industry.
The UK video games industry, which contributes £1.5 billion a year to the economy, is overwhelmingly export-focused. Almost all TIGA members sell to markets outside the UK, while on average 68 per cent of members’ turnover comes from exports, according to the latest TIGA research. Exports are made easier by the predominance of digital distribution in video games, meaning that even the smallest start-up can export its content with relative ease.
TIGA also called on the Government to:
- Retain and improve Video Games Tax Relief (VTGR), which was introduced in 2014 following a successful campaign lead by TIGA. The VGTR reduces the cost of games development, making our industry competitive against our overseas rivals who benefit from similar schemes.
- Ensure that the industry continues to have access to highly-skilled workers from the EU and EEA with minimum red tape and cost. To compete on a global level, the video games industry needs access to the best and brightest talent.
- Introduce a Games Investment Fund. This would make grants or loans available to games businesses on a matched funding basis, as well as provide entrepreneurs with guidance and advice to ensure that video games exports continue to increase.
Dr Richard Wilson OBE, Chief Executive of TIGA, said:
“We look forward to the publication of the Government’s Export Strategy. It is important that businesses have the support and advice to ensure they can take full advantage of established and emerging markets across the world.
“Increasing exports requires a cross-Government effort. The Home Office needs to look carefully at the future of immigration, while at the same time we will work with the Treasury to improve and retain the VGTR, and continue our campaign to introduce a Games Investment Fund.
“The video games industry is extremely export-focused and we are looking to build upon our strong track record.”