How to Fund Your Art in 2024 | ArtConnect Magazine

Creating art is a fulfilling and rewarding pursuit, but it can also be financially challenging. Many artists struggle to make a living from their work and often have to rely on other sources of income to support themselves. At ArtConnect, we envision a world where artists are able to thrive both creatively and financially.

Fortunately, there are several ways for artists to earn money for their art. Here are five of the best ways to fund your art in 2024.

1. Sell Your Art Online

The internet has revolutionized the way artists can sell their work. Building an online shop can be the perfect way to allow people who are interested in your work to purchase something of their own. If you don’t have your own website, it might be a good idea to create one in order to sell your work online. Once everything is set up, link your online shop from all of your social media accounts in order for it to gain the largest reach. Alternatively, there are numerous online marketplaces, such as Etsy or Saatchi Art, where artists can showcase and sell their art to a global audience.

By selling your work online, funding your art can be as easy as just a few clicks. However, sales can be a lot to manage, especially if you will take care of mailing your art yourself. Also, not everyone’s work is suitable for online sales. Thankfully, there are other avenues to consider and explore that may lead to funding for your art.

2. Offer Commissions

One of the most reliable ways for artists to earn money is through commissions. By offering to create custom art pieces for clients, you can earn a steady income while also expanding your portfolio. Many businesses and individuals are willing to pay for personalized art, whether it's a portrait, a mural, or a logo design. Offering commissions also allows you to work on projects that align with your artistic vision and style. If you would like to be open for commissions, make sure it is clearly mentioned on your social media platforms as well as your website.

Getting your first commission can be the hardest part, but don’t give up! Once you build a portfolio of commissions and network of clients, it won’t take long for new gigs to come your way.

3. Artist Grants

Grants may be awarded to artists from foundations, institutions, companies and nonprofits to support various costs associated with art-making. For example, a grant might help you pay your rent while you are working on a project, hire an assistant to produce a large-scale installation, or buy supplies for a sculpture. Grants can be awarded to individuals as well as groups and organizations.

In order to receive grant funding, you must apply and be selected by the judging committee. You can learn more about how to apply .

Grants can be for small or large projects. They can provide funding for special needs, ongoing general operations, and anything in between. Grants might be awarded for set amounts of money and to a fixed number of applicants, or they could represent fractions of the total amount available. This will depend on the institution or organization that is offering them.

How Do I Get a Grant as an Artist?

In order to get a grant as an artist, you have to find the right grants for you, and apply for them in clear and compelling ways. It can take a lot of time—researching what types exist (there are hundreds) and then figuring out which ones might be best suited to your project or concept.

That's why platforms like ArtConnect exist—to save artists hundreds of hours in the pursuit of opportunities such as art grants, stipends and awards. New grant opportunities are published every day. You can visit our opportunities page to stay updated on new grants or subscribe to the opportunities plan so that we email you whenever a grant opportunity that matches your profile becomes available. Though it's competitive to win grants, you can increase your chances of getting funding by applying for a range of them.

While the attraction of grants is that they provide a lump sum of funding to carry out a project, there are some setbacks to consider. Preparing grant applications is a lot of work and most applications are not accepted. This means that funding your art through grants is an inconsistent process. Thankfully, there are other opportunities to fund your art practice.

4. Fully Funded Residencies

Paid residencies offer artists valuable time and space to work on their art, as well as the funding to match it. There are many artist residencies out there - from production residencies to research residencies, from programs that expect resident artists to exhibit at the end, to self-directed residencies that just give space for reflection. In any case, a fully funded residency can give you the opportunity to focus on that next project that you’ve been dying to flesh out, but haven’t yet found the means to. Artists looking for funding can learn about artist residency programs via this link.

Planning for artist residencies can be tricky, because even if they offer artists payment, it may be difficult to take the time off from work or family obligations. If you want to take your family with you, check out our top 10 list of the most family-friendly residencies!

The artists who need dedicated time and resources for their practice are often the ones who can't afford to leave their jobs, since they don’t have savings or other sources of income. If you’re in this situation, don't despair. Although many residencies take artists to faraway locales and into the wilderness, there are probably nearby opportunities that offer studio space and resources for local artists. You can discover residencies around you here.

5. Use a Crowdfunding Platform

Do not be discouraged if you have been unsuccessful in applying for grants or artist residencies, or if selling your work online or offering commissions just isn’t for you. It can be difficult for emerging artists to get the recognition that they deserve at first, especially when the projects being proposed are particularly expensive. For personal projects that require specific equipment or travel, you may need some financial support to get started. Crowdfunding might be the answer that you’re looking for!

If you have a good idea and are willing to invest the time necessary, crowdfunding can help make it happen. Crowdfunding allows you to raise money for a project by appealing directly to your community. This can take the form of a video explaining what the funding will support, why it is important, and how individuals in your community and beyond can donate in order to help you accomplish this goal. Small donations can add up to large sums, making it possible for you to pursue small-scale projects.

In order to attract a successful crowdfunding campaign, artists should consider offering extra incentives. For example, a donation of $100 might entitle the donor to receive one print from an edition of 20; for larger donations you can offer bigger prints. A donation is more akin to trade than charity, when you look at crowdfunding as a reciprocal system rather than one-way giving. In exchange for helping you realize your artistic pursuit, the donor can receive something memorable in return.

There are many ways for artists to earn money for their art in 2024. By selling your art online, offering commissions, applying to grants or funded artist residencies, and crowdfunding, you can create a sustainable income stream while pursuing your passion for art. Remember, building a successful art career takes time and dedication, but with persistence and hard work, you can achieve your goals and make a living doing what you love.