Challenges of Public-Private Partnership in the Cultural Sector

The purpose of this business research project is to identify the challenges of public-private partnership in New Zealand, particularly in the cultural sector. With the baseline funding remaining static over the last few years, there is a need for the cultural sector to engage with private sectors as an alternative source of funding to enable it to safeguard New Zealand’s cultural assets which incorporates maintaining cultural site and delivering cultural activities. Accordingly, the objective of this business research project is to gain a better insight and understanding regarding the challenges of public-private partnership in the context of New Zealand’s cultural sector, particularly through the experience and views of the research participants. This research will highlight the key challenges and the impact these challenges have in determining the success or failure of public-private partnership projects. Analysis on the data generated from the interviews with the research participants revealed similar and dissimilar challenges of public-private partnership. However, it was evident from the interviews with the research participants and the current literature that there were benefits and opportunities in public-private partnership in the New Zealand cultural sector. The recommendations, specifically focused on stakeholder management were provided to assist the cultural sector mitigate the challenges of public-private partnership. The recommendations were also aimed at assisting the cultural sector maintain a successful long-term partnership with their private financiers. Ultimately, a successful public-private partnership will provide the New Zealand cultural sector with an alternative strategy to source finances to bridge the gap in funding required to preserve New Zealand’s cultural assets which incorporates maintaining cultural sites and delivering cultural activities. The structure of this business research report is as follows: Section 1 to Section 5 provides the purpose and objective of this research; an introduction on the definition and value of culture to New Zealanders; background information on public-private funding and why it is an alternative source of funding; and discusses the findings in the current literature. Section 6 consists of the research design which includes the research methodology; research method; planning and resourcing for this research. Section 7 to Section 9 provides the findings from this research; a discussion comparing and contrasting the finding with those in the current literature; and recommendations to mitigate the challenges of public-private partnership, particularly in the context of the New Zealand cultural sector