Art And Business

Although companies rarely divulge the precise sums they spend on art, the not-for-profit consultancy Arts & Business, a matchmaker for these often conflicting worlds, estimates that from March 2005 to March 2006, British companies invested about ₤153.4m directly in the arts, for both public and corporate uses. (In the previous tax year the figure was even higher – ₤155m.) Colin Tweedy, chief executive of A&B, says: “More companies than ever before are building an art collection. They’re constantly buying and commissioning. While public interest in art grows, museum acquisition budgets shrink. Companies are using deep pockets to become big players in the art world - many now have museum-quality collections.” (For full source and article click the Headline) Irish Art