Tired of Being a Starving Artist?

Well, join the club! There are millions of starving artist around the world who are fed up with the state of the global arts economy. Too many theaters are closing. Too many galleries and festivals are shutting their doors. The opportunities to showcase work and make money in the arts is dwindling everyday. The reason why opportunities are becoming few and far between is because of artist's, government and private industries' failure to view “The Arts” as a professional global industry.

“The Arts” refers to the sum total of all artistic and economic activities across all artistic disciplines,; one unified group of artist who collaborate with each other for creative and economic benefits. Every artist should strive to identify areas in which they can unify and collaborate with other artists in order to generate revenue and enhance the global arts economy.

Artist and Finance

Millions of artist each year are told by their professors and mentors that perseverance alone will bring success in their chosen artistic discipline. Many are also encouraged to independently study business principles that will help artist, but are seldom told specifically what parts of business to study. Should every artist study all the ins and outs of business administration in its entirety? Absolutely, not.

The most important aspect of business an artist can learn is finance. Learning the principles of finance will give artist the opportunity to learn ways in which to generate capital, save money and value their artistic products and services. Financial literacy also will give artist the knowledge of tax credits and deductions that millions of artist fail to take advantage of each year. Financial literacy will also give artist the knowledge of available markets for artistic investment.

There isn't a college on the planet that provides artist with this much needed information at a high level. Artist should not have to double major in business or minor in a business discipline in order to receive financial education. Fine and performing arts programs around the world should create arts classes centered on finance and career preparation, and make them mandatory for each student. Three credit hour capstone courses are fine, but there needs to be several credit hours of financial literacy artist through a student's college career.

Since there are no perfect programs for artistic finances, it is the artist's responsibility to get the necessary knowledge and apply the principles.

How ARTbracket can Help

ARTbracket will provide artist with useful information about areas in which artist can collaborate for economic benefits. The website will contain articles and applications that encourage artist around the world to collaborate with each, and outline the specific benefit each artist will gain in the process.

For example, two artists who collaborate on a piece of art for a charity can use the value of the art work as a tax deduction at the end of the year, and in certain parts of the world, may even receive a tax credit for donating a piece of art to a non-profit organization. While the two artist did not make a traditional sale, there is still an economic benefit in collaborating with another artist.

Another example would be that two artist from separate mediums could collaborate on a piece of artwork that becomes popular, potentially leading to a new trends in the arts industry or even new genres and mediums of art. Such collaborations could give the artist the opportunity to generate revenue by marketing a new brand of art, selling original prints, or educating other artist how to create a piece with similar style.

Specific Financial Instruments

Every artist needs a basic checking and savings account from an accredited financial institution. If you do not have these accounts, stop reading this article, go to your local bank or credit union and open them today!

Every artist should learn about certificate of deposits and how these accounts can be used to draw interest on savings, and how these accounts can be useful for the purchase of supplies, rental space and other necessities an artist might need.

Every artist should know how to use their lines of credit to boost their credit scores to increase the possibility of receiving equity from a private financial firm, bank or other institution or angel investor.

Taxes, taxes, taxes. All artist must learn how to properly file their taxes complete with credits and deductions. Too many artist miss the opportunity to enhance their financial situations during tax season and the buck must stop with you!

Your Collaborative Ideas

If you have collaborative ideas that will lead to economic benefits for artist please click and submit them here