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Entrepreneurship in the Creative Industry

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Entrepreneurship in the Creative Industry

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  • July 12, 2012
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ENTREPRENEURSHIP IN THE CREATIVE INDUSTRY

Branko Ćirić MBA[1] and Marko Trmčić[2]MA, Asst/Prof Snežana Trmčić PhD[3]

Abstract

Economies of developed countries rely heavily on small and medium enterprises, characterized by a high level of entrepreneurship. For that reason, governmental economic planners focus on creating an economic environment within all industries which will allow SMEs to develop easily and freely. However, entrepreneurship in Serbia and in most Western Balkan countries primarily refers to production and service activities of the real sector and much less to creative industries. It faces insufficient knowledge of the potential of these industries which achieved the highest continual growth rates both in revenue and in number of employees in developed western countries and are always looking for additional qualified staff. Furthermore, creative industries' products and services from these countries are becoming very important export items. The impact of creative industry is visible not only in the results achieved, but also in the attention of the most important global institutions such as UNDP, UNCTAD, World Bank - that it attracts. Statistical indicators from the United States, used in this paper clearly show the type of results which can be achieved by the creative industry if the government is willing to help its development. Entrepreneurship has a particularly important place in the creative industry given that it is a largely based on the creativity and initiative of individuals. Along with the film and music industries, which - due to their very nature and the number of consumers - reach huge incomes, creative industries include specific vertical segments that will peak in the coming years. They are primarily related to the development of computer animation and interactive television. This is why economic planners of the Western Balkan countries should dedicate far greater attention to the creative industry which should also...