The Association of Independent Music (AIM) is entering a strategic partnership with professional services firm EY, which is designed to accelerate growth in the UK’s independent music sector.
The alliance, developed over the past 12 months, is the first of its kind between EY and the independent music community. It will enable independent music leaders to expand their businesses through access to expertise, connections and skills.
To mark the beginning of this partnership, EY and AIM will host an interactive session on October 25. The session, AIM Presents: EY 7 Drivers of Growth, is set to be attended by a number of AIM’s key stakeholders, which represent some of the world’s biggest names in independent music.
The event will harness EY’s strategic growth framework to assist AIM members in identifying key factors to help deliver a sustainable growth strategy. It will be hosted at the London office of legal and commercial law firm Simkins.
Simkins recently partnered with AIM as part of the Friend of AIM scheme, as part of their commitment to providing expertise and guidance to independent talent, rights-holders and entrepreneurs, and contributing to the sector's growth.
The partnership with EY follows recent AIM initiatives to foster growth and investment in the independent community including its Angel Investment Syndicate. Launched in partnership with the UK Business Angels Association (UKBAA), the Syndicate creates access to capital for music entrepreneurs looking to scale their businesses, including an investment readiness programme, to which EY will now contribute training resources.
Other planned events include an AIM x EY: Finance Breakfast Session for AIM member CEOs and finance teams to network and brainstorm ideas to foster growth in the UK’s independent space. There will also be an AIM x EY: Digital Bootcamp event series, with the first instalment set to discuss opportunities and challenges posed by AI to the sector.
Details of further events will follow over the coming months, as the partnership continues to develop.
We remain steadfast in our commitment to equipping the community with the essential tools for triumph
Ben Wynter, director of business development & partnerships at AIM, said: “The independent music community is set to hit a projected sixth consecutive year of growth in 2023. Through initiatives like the AIM Angel Investment Syndicate and strategic partnerships like the one forged with EY, we remain steadfast in our commitment to equipping the community with the essential tools for triumph. Addressing the challenges outlined by the British Business Bank – access to capital, knowledge, and networks – AIM continues to innovate, fostering fresh partnerships and opportunities that dismantle these obstacles, opening doors to sustained success within our vibrant creative entrepreneurial ecosystem. The new alliance between AIM and EY promises to lay the groundwork for meaningful collaborations and the exchange of transformative ideas, poised to orchestrate lasting success and expedite the growth of the independent sector."
Callum Johnson, head of partnerships at AIM, said: “We’re really looking forward to working with EY to help AIM’s members to take their businesses to the next level and are excited to launch what will be a first-of-its-kind resource for the UK independent sector. We’re also grateful to Simkins for their continuing support in AIM’s mission to foster entrepreneurship, growth and connections to the sector.”
Joe Cannon, tax partner at EY, said: “We’re really pleased to be entering into this exciting partnership with the Association of Independent Music, as part of our long-term support of the UK’s arts sector. Our goal is to empower AIM’s membership of creative entrepreneurs to fulfil their potential, via a structured programme that provides access to our expertise, exceptional people, and technology. We have worked closely with AIM over the last 12 months to develop this initiative and look forward to launching our first event later this month.”