Self-generated income (from fundraising, trading activities and admission charges) accounts for 65 per cent of the funding of the 17 non-departmental public body museums and galleries. Over the five years to 2002-03, total fundraising income has declined (to [pound]68 million) but corporate sponsorship has doubled (to [pound]13 million). Trading profit on catering, retailing and the sale of reproduction rights amounted to [pound]22 million (2002-03), an 18 per cent increase in real terms (over 5 years). Museums and galleries are optimistic about the prospects for growing their income but attention needs to be given to profitability of some trading activities; costs of generating income through publishing and venue hire vary from institution to institution, and there are some information gaps. Some activities such as e-commerce and membership schemes, are still at an early stage, and do not necessarily make a profit. There is a need for improved corporate planning, and for development of entrepreneurial skills and sharing of knowledge; the financial targets (set by DCMS) need to be refined.
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