The cultural nonprofit young entrepreneurs: new evidence

Alessandro Leon

Economia della Cultura, 2013, issue 2, 129-140

Abstract: Cultural nonprofit firms run by young entrepreneurs score a rate ofeconomic independence (the ratio of government grants on total revenues)among the highest in the industry, although there is a small andessential share of government grants. These firms, because they have todeal with a difficult and hostile environment, have a strict control oforganization costs and balance sheets in order to maintain the firmeconomic and financial sustainability in the long term. The culturalnonprofit youth firms are «creative» in many senses: some are intrinsiccreative (the artistic ones), while others are only partially creative (theeducation ones). All firms, in one way or another, have a role in thedissemination of creative products. Despite these advantages, nonprofitbusinesses are weak in terms of organization, are financially fragile, andare at risk of bankruptcy or closure.

Keywords: cultural and creative sector; nonprofit and cooperative organizations; economic and financial sustainability (search for similar items in EconPapers)
Date: 2013
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