Artists, if they sell their art, are entrepreneurs. All the business terms like "startup" and "sole proprietorship" apply to them. The Community Arts Council (CAC) is helping artists see the business bones within the creative body.
Unlike a storefront retailer or industrial wholesaler, however, they are a special sort of venture.
An artist makes something concentrated out of collected materials, so they are industrial.
They sell their wares as individual units or mass produced, depending on the item, so they are commerical.
They are responsible for all inventory, client services, marketing, procurement of supplies and services, research and development, education and professional capacity-building, you take all the financial risk, you invest all the work, and you cross your fingers that the time and money will somehow pay off.
What complicates matters for artrepreneurs is they are in business because of the art they make, not the other way around. The art skills dominate their mentality and daily functions and the business skills come somewhere between second place and not at all.
"We wanted to offer some knowledge to artists about how to understand the basic financial rhythms of your business," said CAC board member Marnie Hamagami. "When you get a feel for that, it makes it easier to find the balance between the practicalities of business and your creative side. At the CAC we are very big on emphasizing to the public and to artists themselves that art is work. It is a valuable and valued set of professions. So this is a tool that can help bring that concept to life for our Prince George artists."
The course will be taught in one evening session at Studio 2880 (upstairs at the CAC Gift Shop) by Matt Hutcheon, a tax and small business financial planning consultant who recently moved to Prince George from his position as CEO of the Kingston Chamber of Commerce. In Ontario, he was a strong supporter of local arts and culture, and saw the opportunity to do the same in his new hometown.
Hutcheon delivered a similar workshop to artists last month specifically on how to approach taxes.
"This session is going to focus on planning and managing cash flow. Cash flow is critical in any business,and this session will include tools and advice on how to properly plan and monitor cash flow so there are no unpleasant surprises in your art business," he said.
There are many first-time and part-time entrepreneurs in most corners of society, not just the arts, he explained, and the basic principles of business are generally the same. If they are not applied or mishandled, it can cost you time, opportunities, and/or money.
"It is important for any business owner to have strong financial management, and so artists and artisans are no different," Hutcheon said. "If they get a good handle on that, they are better able to focus on the part of their business they love: the actual creation or performance of their art."
Hamagami said the CAC has been a longtime provider of places and events for artists to develop their skills and public profile, but this speaker series adds a new dimension to their broader mandate. After the success of the tax seminar, it was a quick conversation with Hutcheon and other business-focused people like him who appreciate the arts and want to see ours thrive.
"I am always in awe of creative people, and I want Prince George to have a vibrant arts community," Hutcheon said. "I'm happy to have the chance to conduct these seminars and contribute a bit of my knowledge to help the artists who add so much to the city."
This session in the newly created series The Business Of Art will take place on at 7 p.m. on April 20. It is free of charge.
