Cultural young entrepreneurs and the firm incentive and income allowances system in UK

Alberto Masetti-Zanetti

Economia della Cultura, 2013, issue 2, 159-174

Abstract: The UK creative and cultural sector offers a unique contribution tothe British economy. British music, films, digital productions, publicationsand creative artefacts not only represent 6.2% of the country'sGDP and drive innovation across a number of related sectors, but areat the heart of the UK's identity on the global stage. This success storyrests on the country's ability over the last few years to usher in a newgeneration of cultural entrepreneurs, who have seized on the opportunityof a changing funding and public policy landscape to drive innovationand change across the creative sector. The public sector,flanked by a number of charitable bodies and quangos such as theBritish Council and Nesta, has successfully set up a number of initiativesto harness and support young entrepreneurial talent, and hasworked hard to reduce the bureaucratic barriers and fiscal burden oncreative start-ups and on the film and digital industries. As a result, theUK cultural sector now dominates, in terms of entrepreneurial drive,innovation and revenues, its European counterparts and London hasbecome one of the global capitals of the cultural economy.

Keywords: creative and cultural start-ups in; new forms of funding and support; public policies and private role; local and global markets (search for similar items in EconPapers)
Date: 2013
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